Time and frequency domain connectedness analysis of the energy transformation under climate policy

Chi-Wei Su, Xi Yuan, Ran Tao and Xuefeng Shao

Technological Forecasting and Social Change, 2022, vol. 184, issue C

Abstract: On the issue of promoting energy structure transformation and response to climate changes, the development of clean energy has also received more attention. Under the insufficient dilemma of high oil prices and clean energy supply, the increasing proposition of crude oil supply brings concerns about the climate policy. This study analyses the energy transformation under climate policy using a technique from the time and frequency domains. We find the spillover effect of climate policy and energy structure is significant, and the risk transmission mainly occurs in the short term. From the frequency domain, spillover-level fluctuations in a short time are more violent in most markets. The connectedness is dynamic, and the energy revolution, climate policy and significant events will enhance the linkage between renewable energy and other sources and improve their spillover levels. In addition, climate policy mainly accepts the spillover of renewable energy production and consumption in the short and long terms. The climate policy's influence is still limited, and there is still a long way to take on the road to energy transformation.

Keywords: Climate policy; Energy transformation; Time-frequency dynamics; Spillover (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:184:y:2022:i:c:s0040162522004991

DOI: 10.1016/j.techfore.2022.121978

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