Do financial incentive policies for renewable energy development increase the economic growth in Latin American and Caribbean countries?

Matheus Koengkan, José Alberto Fuinhas () and Emad Kazemzadeh

Journal of Sustainable Finance & Investment, 2024, vol. 14, issue 1, 161-183

Abstract: This investigation approached the impact of financial incentive policies for renewable energy development on economic growth using panel data with seventeen countries from Latin America and the Caribbean (LAC) from 1990 to 2016. The fixed-effects model (FE) and the quantile via moments (QvM) models were used to accomplish this investigation. The FE and the QvM models showed that the financial incentive policies for renewable energy development and consumption of green energy, public and private capital stock, and globalisation increase economic activity in the countries from the LAC region, while gender inequality reduces it. Indeed, the positive impact of financial incentive policies for renewable energy development and consumption of green energy on economic growth could be related to the possible capacity of these policies to encourage investments in green energy technologies and the consumption of green energy.

Date: 2024
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DOI: 10.1080/20430795.2022.2031849

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