Details

Autor(en) / Beteiligte

• Alharbi, Samar S.
• Al Mamun, Md
• Boubaker, Sabri
• Rizvi, Syed Kumail Abbas

Titel

Green finance and renewable energy: A worldwide evidence

Ist Teil von

• Energy economics, 2023-02, Vol.118, p.106499, Article 106499

Ort / Verlag

Elsevier B.V

Erscheinungsjahr

2023

Link zum Volltext

Quelle

Alma/SFX Local Collection

Beschreibungen/Notizen

• Using a large sample of 44 countries for 2007–2020, we provide evidence that green finance (green bonds) significantly fosters renewable energy production. Our results are robust to addressing cross-sectional dependence concerns, allowing structural breaks, and using several alternative specifications and estimation methods. Compared to our baseline findings, the effect is higher for green bonds issued to finance alternative energy. We also find that the existing stock of technological capacity significantly fosters the impact of green finance on renewable energy production, particularly in the long run. The long-run impact of green finance is significant in countries with higher emissions per dollar GDP, higher levels of climate change exposure to the economy and human life, and better-developed credit markets. The effect is more pronounced in countries with low or net zero emission targets and following the post-Paris 2015 agreements. •Examined green finance's role in renewable energy production.•Green finance significantly foster renewable energy in the short and long-run.•Innovation is a key channel linking green finance and renewable energy.•Impact is more pronounced in countries with higher emissions & climate exposure.