Regional aspects of financial development and renewable energy: A cross-sectional study in 214 countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F23%3A63562058" target="_blank" >RIV/70883521:28120/23:63562058 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S0313592623000942" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0313592623000942</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.eap.2023.05.006" target="_blank" >10.1016/j.eap.2023.05.006</a>
Alternative languages
Result language
angličtina
Original language name
Regional aspects of financial development and renewable energy: A cross-sectional study in 214 countries
Original language description
Renewable energy is one of the most promising technologies for developing sustainable energy systems. This paper presents empirical evidence on the finance-green energy nexus. We use an extensive database on financial development (depth, access, efficiency, stability) from 1960 to 2017 for 214 countries, providing the first, to our knowledge, comprehensive empirical investigation on all four dimensions. We show macroeconomic and energy development conditions (public/social awareness and willingness, policy and legal framework, fossil fuels orientation, energy sector competition) are crucial to leverage financing and improve financing conditions for renewable energy entrepreneurs. Our empirical findings show that the financial system in East Asia and the Pacific is a significant constraint for investments in sustainable technologies. The cost of capital and debt, as well as the cost of equity and assets, for green investors, is commonly 30% higher than for non-green investors. Our findings support the crowding-in effect for South Asia. Here we supply empirical knowledge on the policymakers’ and investors (governments, institutions, markets) goals, policies, and instruments targeting green financing and sustainable development.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Economic Analysis and Policy
ISSN
0313-5926
e-ISSN
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Volume of the periodical
78
Issue of the periodical within the volume
neuvedeno
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
16
Pages from-to
1142-1157
UT code for WoS article
001001366800001
EID of the result in the Scopus database
2-s2.0-85159593478