Financial development and renewable energy adoption in EU and ASEAN countries

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Financial development and renewable energy adoption in EU and ASEAN countries

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Financial development and renewable energy adoption in EU and ASEAN countries

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

<a href="/cs/project/GA23-07983S" target="_blank" >GA23-07983S: Sociální chování firem v reakci na CSR politiky, instituce a ekonomické problémy</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Energy Economics

ISSN

0140-9883

e-ISSN

1873-6181

Svazek periodika

131

Číslo periodika v rámci svazku

March

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

16

Strana od-do

107368

Kód UT WoS článku

001185889500001

EID výsledku v databázi Scopus

2-s2.0-85184842109