Financial development and renewable energy adoption in EU and ASEAN countries

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F24%3A43924775" target="_blank" >RIV/62156489:43110/24:43924775 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1016/j.eneco.2024.107368" target="_blank" >https://doi.org/10.1016/j.eneco.2024.107368</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.eneco.2024.107368" target="_blank" >10.1016/j.eneco.2024.107368</a>

Result language
angličtina
Original language name
Financial development and renewable energy adoption in EU and ASEAN countries
Original language description
The shift from carbon-based to green energy is pivotal in addressing climate change. However, this transition is expensive, and the availability of financing sources is a necessary precondition for the green transformation of the economy. We therefore examine the role of financial institutions and capital markets in facilitating this change, focusing on a heterogeneous sample of 32 EU and ASEAN countries covering the years 2000 to 2020. Our findings reveal a persistent preference by financial institutions and banks for carbon-intensive energy production, negatively impacting renewable energy consumption. Contrarily, developed capital markets demonstrate a positive influence on green energy initiatives, especially pronounced in EU countries. The results highlight a dichotomy in financial support for green energy transition. While traditional financial institutions lag in supporting renewable energy, developed capital markets show a positive effect for green energy production. Concluding, we advocate for an increasing financialization of renewable energy markets and enhanced regulatory support for banks and financial institutions in supporting renewable energy business models.
Czech name
—
Czech description
—

Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50202 - Applied Economics, Econometrics

Project
<a href="/en/project/GA23-07983S" target="_blank" >GA23-07983S: Corporate social behavior and responses to CSR policies, institutions, and economic distress</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Similar results(10)