Alternative Financing for a Sustainable Energy Transition: An Institutionalist Perspective

Andrea Almawi and Faruk Ülgen
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Andrea Almawi: CREG - Centre de recherche en économie de Grenoble - UGA - Université Grenoble Alpes

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Abstract: This article adopts an institutionalist perspective in order to address the energy transition process and to consider, in particular, the alternative financing mechanisms that would be able to support a structural transformation that is sustainable in the long term. It argues that such a transformation can be regarded in a holistic and broader way as an eco-transition process that involves the whole society and economy and requires a societal public organization. A relevant holistic approach to eco-transition should focus on the institutional conditions that are required for a new sustainable and structural change framework. In this aim, the article points to the features of the transition process that display the characteristics of a public good. The durable provision of such a good calls for the transformation of the financing schemes in force to support green investments beyond the usual opposition between market-friendly and government-guided economic policies. A relevant avenue is to organize the financing of the eco-transition under the supervision of public institutions even though the contribution of private bodies might be valuable according to the rules of long-term non-speculative financial support of markets. JEL Classification Codes: B52, G18, H41, Q56, Q58

Keywords: energy transition; financial markets; institutionalism; public good; regulation; sustainability (search for similar items in EconPapers)
Date: 2024-06-10
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Published in Journal of Economic Issues, 2024, 58 (2), pp.487-494. ⟨10.1080/00213624.2024.2344424⟩

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Journal Article: Alternative Financing for a Sustainable Energy Transition: An Institutionalist Perspective (2024)
Working Paper: Alternative financing for a sustainable energy transition: An institutionalist perspective (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04632137

DOI: 10.1080/00213624.2024.2344424

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