How does economic recovery impact green finance and renewable energy in Asian economies

Ying Liu

Renewable Energy, 2023, vol. 208, issue C, 538-545

Abstract: Recent years a surge is noted in renewable energy (RE) and energy efficiency domain as academics and corporate leaders grapple with the sustainable development. Thus, the aim of study is to test the relationship among green financing, renewable energy development and green economic recovery in Asian context. Empirical research on Asia shown a connection between economic recovery, RE growth, and green finance growth for 1995–2018 by applying the Quantile Regression technique. Therefore, this study analyzes the link between green financing, investment in RE projects, economic development, and sustainability practices in Asian nations. The multiple robustness and sensitivity assessments indicate the detrimental impact of RE on environmental deterioration and the trade-off between unemployment and environmental degradation. The causality test shows that economic recovery, RE, and green finance contribute to a larger ecological footprint. The reduction in unemployment and the environmental impact may be attributed mainly to technological advancement that encourages sustainable production and consumption. This study also provides implications for future policy actions.

Keywords: Renewable energy; Green finance; Economic recovery; Quantile-on-quantile; Asian economies (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0960148123000939
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:208:y:2023:i:c:p:538-545

DOI: 10.1016/j.renene.2023.01.084

Access Statistics for this article

Renewable Energy is currently edited by Soteris A. Kalogirou and Paul Christodoulides

More articles in Renewable Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().