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Unraveling the dynamic nexus: Green cryptocurrencies and their role in sustainable market evolution

Author

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  • Peng, Pin
  • Liang, Feifei
  • Fu, Yaping
  • Chen, Yanan
  • Qiu, Lin-shu
  • Qi, Haozhi

Abstract

This study explores the intricate relationships between green cryptocurrencies, traditional energy, and renewable energy stock markets using an innovative approach that combines time-frequency spillover analysis with cross-quantile dependence methodologies. Our findings show a complicated network of market interactions that change over time and vary widely. In the short term, green cryptocurrencies and new energy equities emerge as pivotal drivers of market dynamics, showcasing their growing influence within traditional energy sectors. This interplay, however, is marked by significant temporal variations, with green cryptocurrencies demonstrating remarkable resilience to external shocks and increasingly becoming transmitters of volatility over time. The cross-quantile dependence analysis further highlights the conditional nature of these interactions, shedding light on the nuanced impact of green cryptocurrencies across different market conditions, particularly during periods of extreme market stress. These insights underscore the transformative role of green financial instruments in the context of the energy transition and sustainable development, offering important implications for investors, policymakers, and the strategic orientation of financial markets toward sustainability.

Suggested Citation

  • Peng, Pin & Liang, Feifei & Fu, Yaping & Chen, Yanan & Qiu, Lin-shu & Qi, Haozhi, 2024. "Unraveling the dynamic nexus: Green cryptocurrencies and their role in sustainable market evolution," Energy, Elsevier, vol. 313(C).
    • Handle: RePEc:eee:energy:v:313:y:2024:i:c:s0360544224034388
    DOI: 10.1016/j.energy.2024.133660
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