Do renewable energy investment and financial development mitigate climate change?

Xia Chen, Huimin Zhang, Xin Xin Zhao, Qiang Gong and Chun-Ping Chang

Journal of Asian Economics, 2024, vol. 93, issue C

Abstract: This research explores how renewable energy investment and financial development affect climate change using panel data of 26 OECD countries and 18 non-OECD countries from 1996 to 2019. Several conclusions are drawn from empirical analysis. First, there exist cointegration relationships among renewable energy investment, financial development, and climate change. Second, the effects of renewable energy investment and financial development on climate change exhibit heterogeneity. In the full sample and for OECD countries, renewable energy investment and financial development have a negative impact on climate change, while for non-OECD countries, renewable energy investment has a positive impact on climate change.

Keywords: Renewable energy investment; Financial development; Climate change (search for similar items in EconPapers)
JEL-codes: Q20 Q54 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:93:y:2024:i:c:s1049007824000447

DOI: 10.1016/j.asieco.2024.101749

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