Financing the Green Transformation — Market Failures, Government Failures and the Role of the State

Ulrich Volz, Judith Böhnke, Vanessa Eidt, Laura Knierim, Katharina Richert and Greta-Maria Roeber
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Judith Böhnke: KfW Development Bank
Vanessa Eidt: KfW Development Bank
Laura Knierim: KfW Development Bank
Katharina Richert: University of Heidelberg
Greta-Maria Roeber: GIZ German Technical Cooperation

Chapter 2 in Financing the Green Transformation, 2015, pp 7-21 from Palgrave Macmillan

Abstract: Abstract Green investments are obstructed by a combination of both market and government failures. These failures prevent the allocation of capital into green investments to a socially optimal degree. However, although government failures cannot be ruled out per se, most experts would agree that the public sector ought to play a vital role in catalysing and leveraging green investments. This chapter introduces these failures and establishes the rationale for public intervention. Subsequently it defines a set of criteria that should guide public intervention and discusses different instruments to overcome the failures.

Keywords: Financial Institution; Market Failure; International Energy Agency; Green Investment; International Energy Agency (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-48612-7_2

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DOI: 10.1057/9781137486127_2

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