Dependence Structure Between Green Bonds Market and Clean Energy Market: Evidence from Copula Approach

Nousheen Tariq Bhutta (), Muhammad Arslan, Akmal Shahzad Butt (), Anum Shafique () and Aleena Zainab
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Nousheen Tariq Bhutta: Lahore Business School, Pakistan
Muhammad Arslan: Foundation University
Akmal Shahzad Butt: Preston University
Anum Shafique: Arid Agriculture University Rawalpindi
Aleena Zainab: Arid Agriculture University

Chapter Chapter 28 in The Palgrave Handbook of Green Finance for Sustainable Development, 2024, pp 757-775 from Palgrave Macmillan

Abstract: Abstract The study aims to analyze the dependence structure between green bonds market and clean energy markets. For this purpose, the dependence has been tested through copula family where five copulas, Gaussian copula, t coupla, frank, Clayton, and Gumble copula are used. The findings of the study reveal that the dependence exists in all the pairs, however, the selection of model can add to the understanding of the direction of the movement by selecting the best-fit copula to measure the dependence structure between these markets. The findings of the study are useful for the investors for efficient capital allocation and for the policymakers to devise useful policies for these new markets.

Keywords: Green bonds; Clean energy; Copula; Dependence structure (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-031-65756-6_28

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DOI: 10.1007/978-3-031-65756-6_28

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