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| DOI | 10.1016/j.eneco.2024.107406 |
| A global perspective on the nexus between energy and stock markets in light of the rise of renewable energy | |
| 发表日期 | 2024 |
| ISSN | 0140-9883 |
| EISSN | 1873-6181 |
| 起始页码 | 131 |
| 卷号 | 131 |
| 英文摘要 | The rise in renewable energy and the associated divestment initiatives from fossil fuel around the world have become prominent in combating climate change. This paper revisits the relationship between energy and stock markets by accounting for renewable energy through the use of the Divisia index method. The paper contributes to the literature by using three renewable energy tariffs rather than relying on clean energy stocks as a proxy for renewable energy. We retrieve data for both the price and consumption of fossil energy (oil, coal and gas) and renewable energy (solar, wind and hydro). We estimate a Vector Autoregressive (VAR) model over the period 2000-2019 across 25 countries globally. Our study identifies a significant time -dependent dynamics between renewable energy and both the energy stock and carbon markets, while fossil energy has no significant influence on those markets. The increasing influence of renewable energy in this nexus signals to policymakers that investors have started to shift their focus of attention from fossil to renewable energy. |
| 英文关键词 | Renewable energy prices; Fossil energy prices; Stock prices |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics |
| WOS类目 | Economics |
| WOS记录号 | WOS:001201957000001 |
| 来源期刊 | ENERGY ECONOMICS
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/293729 |
| 作者单位 | IESEG School of Management; Centre National de la Recherche Scientifique (CNRS); Universite de Lille |
| 推荐引用方式 GB/T 7714 | . A global perspective on the nexus between energy and stock markets in light of the rise of renewable energy[J],2024,131. |
| APA | (2024).A global perspective on the nexus between energy and stock markets in light of the rise of renewable energy.ENERGY ECONOMICS,131. |
| MLA | "A global perspective on the nexus between energy and stock markets in light of the rise of renewable energy".ENERGY ECONOMICS 131(2024). |
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