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Is green finance a motivator for energy transformation investments in the OECD?

Author

Listed:
  • Yuecheng Xu

    (Zhejiang Guangsha Vocational and Technical University of Construction)

  • Yunfei Cai

    (Shanghai Normal University
    Hangzhou Normal University)

Abstract

This study examines the impact of green financial policies, specifically green bonds and green credit, on investments in green energy across 23 OECD (The Organization for Economic Co-operation and Development) member countries from 2010 to 2021. Analyzing panel data using CUP-FM analysis, it finds that both green bonds and green credit significantly foster investments in green resource projects, with green bonds showing greater sensitivity. Conversely, green fiscal policies, particularly green taxes, prove ineffective and sometimes counterproductive. The research highlights a positive correlation between increased investments in green resources, growth in green economies, and sustainable utilities trade, while emphasizing the detrimental effect of public health costs on green project development. The study underscores the importance of appropriate policies to promote investments in renewable resources, spanning green finance, green fiscal policies, green economic growth, and sustainable utilities trade.

Suggested Citation

  • Yuecheng Xu & Yunfei Cai, 2024. "Is green finance a motivator for energy transformation investments in the OECD?," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-15, June.
    • Handle: RePEc:kap:ecopln:v:57:y:2024:i:3:d:10.1007_s10644-024-09705-x
    DOI: 10.1007/s10644-024-09705-x
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    More about this item

    Keywords

    Renewable transition; Green financing mechanism; Green project; OECD;
    All these keywords.

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water

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