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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

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    50201 - Economic Theory

Result continuities

  • Project

  • 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

  • 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