Is There A Link Between Increasing The Degree Of Economic Freedom And Energy Consumption?

The four main factors of financial development, EF, GDP, and gasoline pricing on the effect of gasoline demand, are investigated in the countries with the highest economic freedom (EF). Panel data from 1996 to 2017 were tested using the ARDL panel method. This study found some interesting results by testing four assumptions. According to the results, the price of gasoline and financial development have an important influence in reducing gasoline use. Moreover, EF and GDP are directly related to increased energy use. Whereas the financial crises (dummy variable) have an important original association with energy use. Finally, the Dumitrescu and Hurlin causality test was used to generate the results, which can aid policymakers in making better decisions.