气候变化领域集成服务门户(CCPortal): Impact of climate policy uncertainty on traditional energy and green markets: Evidence from time-varying granger tests

CCPortal

DOI	10.1016/j.rser.2022.113058
	Impact of climate policy uncertainty on traditional energy and green markets: Evidence from time-varying granger tests
	Ren, Xiaohang; Li, Jingyao; He, Feng; Lucey, Brian
发表日期	2023
ISSN	1364-0321
EISSN	1879-0690
卷号	173
英文摘要	Extreme weather anomalies act as threat multipliers, warning us to focus on low-carbon transition and sus-tainable development. This study analyses the dynamic bidirectional causality between climate policy uncer-tainty (CPU) and traditional energy, represented by oil, coal, and natural gas, as well as green markets, represented by clean energy, green bonds, and carbon trading. This research provides the first comprehensive assessment of CPUs across multiple dimensions of different energy properties, causal spillover directions, and temporal heterogeneity using the time-varying Granger test. The results indicate that significant dynamic cau-sality exists within each series rather than the entire period, and that causality manifests differently between pairs of series. In addition, CPU is more inclined to act as a risk recipient than a sender in the market volatility spillover. Whenever extreme climate events or major climate policy changes are encountered, the causal rela-tionship between CPU and the relevant markets will rise significantly. Overall, governments should pay attention to the role of climate policy implementation in energy transition as well as attempt to reduce uncertainty.
英文关键词	Time-varying granger test; Climate policy uncertainty; Traditional energy; Green markets; Bidirectional causality
语种	英语
WOS研究方向	Green & Sustainable Science & Technology ; Energy & Fuels
WOS类目	Science Citation Index Expanded (SCI-EXPANDED)
WOS记录号	WOS:000891641200002
来源期刊	RENEWABLE & SUSTAINABLE ENERGY REVIEWS
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/280517
作者单位	Capital University of Economics & Business; Trinity College Dublin
推荐引用方式 GB/T 7714	Ren, Xiaohang,Li, Jingyao,He, Feng,et al. Impact of climate policy uncertainty on traditional energy and green markets: Evidence from time-varying granger tests[J],2023,173.
APA	Ren, Xiaohang,Li, Jingyao,He, Feng,&Lucey, Brian.(2023).Impact of climate policy uncertainty on traditional energy and green markets: Evidence from time-varying granger tests.RENEWABLE & SUSTAINABLE ENERGY REVIEWS,173.
MLA	Ren, Xiaohang,et al."Impact of climate policy uncertainty on traditional energy and green markets: Evidence from time-varying granger tests".RENEWABLE & SUSTAINABLE ENERGY REVIEWS 173(2023).