Green investments and development of renewable energy projects: Evidence from 15 RCEP member countries

Yonglong Wang and Aidi Xu

Renewable Energy, 2023, vol. 211, issue C, 1045-1050

Abstract: This paper investigates the potential of 15 RCEP (The Regional Comprehensive Economic Partnership) member countries to advance green investments from 2000 to 2021. Based on the results from the Panel Pooled Mean Group (PMG) technique, the investment potential has positive short- and long-term coefficients. The EKC (Environmental Kuznets Curve) hypothesis exists, indicating that gross domestic product per capita in the short term is the factor that inhibits the growth of renewable energy consumption. The financial development index has a non-significant coefficient in the short term. However, it has a positive coefficient in the long term. The climate policy uncertainty negatively impacts renewable energy deployment in the short- and long-term. The conclusions provide some policy implications, such as the support of green SMEs, the establishment of a digital green financing market, and the creation of green multilateralism through the establishment of a green investment network.

Keywords: Green investment; Renewable energy consumption; Green finance (search for similar items in EconPapers)
JEL-codes: C23 G01 G11 Q27 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:211:y:2023:i:c:p:1045-1050

DOI: 10.1016/j.renene.2023.05.034

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