Financial development and deployment of renewable energy technologies
Jeayoon Kim and
Energy Economics, 2016, vol. 59, issue C, 238-250
Using a unique panel data set of 30 countries for the 2000–2013 period, we examine whether financial market development promotes the deployment of renewable energy on a global scale. In particular, we conjecture that countries with well-developed financial markets experience growth in the renewable energy sector due to easier access to external financing. We find that renewable sectors that are relatively more dependent on debt and equity financing grow disproportionately faster in countries with developed financial markets. Our results support the view that financial development leads to a reduction in CO2 emissions by addressing the role of financial markets in deploying renewable energy.
Keywords: Financial development; External financing; Deployment of renewable energy technologies (search for similar items in EconPapers)
JEL-codes: G15 O16 Q43 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:59:y:2016:i:c:p:238-250
Access Statistics for this article
Energy Economics is currently edited by R. S. J. Tol and J. P. Weyant
More articles in Energy Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().