Effects of financial openness on renewable energy investments expansion in Latin American countries

Matheus Koengkan (), José Alberto Fuinhas () and Isabel Vieira ()

Journal of Sustainable Finance & Investment, 2020, vol. 10, issue 1, 65-82

Abstract: This investigation approaches the effects of financial openness on renewable energy investments. With the purpose of the realisation this study, the installed capacity of renewable energy was used as proxy o renewable energy investments, and ten Latin American countries from 1980 to 2014 were utilised. The empirical results indicated that the per capita economic growth in the short-run has a positive impact on the installed capacity of renewable energy, while the variable financial openness and general government capital stock per capita in the long-run exerts a positive effect. The PVAR model pointed out to a positive impact of per capita economic growth, financial openness, and general government capital stock per capita in the short-run. The Panel Granger causality Wald test revealed the existence of bi-directional causality between the variables of the model.

Date: 2020
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Citations: View citations in EconPapers (13)

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DOI: 10.1080/20430795.2019.1665379

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