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Role of trade and green bond market in renewable energy deployment in Southeast Asia

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  • Dong, Weijian
  • Li, Ying
  • Gao, Pengpeng
  • Sun, Yunpeng

Abstract

The primary purpose of this paper is to investigate the effects of two variables, trade openness and the issuance of green bonds, on the consumption of renewable energy in Southeast Asian countries. Quarterly data throughout 2016–2021 in the framework of the panel data method were used for the case of 6 selected countries (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam). The results confirmed that the issuance of green bonds is an effective green financing tool in the implementation of the development policy of the deployment of renewable energy in the countries of the Southeast Asian region. The degree of trade openness has a driving effect on increasing renewable energy consumption due to the increased possibility of transferring green technologies and increasing interactions with leading countries in the field of sustainable development. The typical standard of green bonds, green scientific network (GSN), the development of e-commerce, and the publication of digital green papers are the recommended practical policies of this research.

Suggested Citation

  • Dong, Weijian & Li, Ying & Gao, Pengpeng & Sun, Yunpeng, 2023. "Role of trade and green bond market in renewable energy deployment in Southeast Asia," Renewable Energy, Elsevier, vol. 204(C), pages 313-319.
    • Handle: RePEc:eee:renene:v:204:y:2023:i:c:p:313-319
    DOI: 10.1016/j.renene.2023.01.022
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    Cited by:

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    3. Shan, Haipeng & Wong, Wing-Keung & Hu, Haichuan & Shraah, Ata Al & Alromaihi, Abdullah & The Cong, Phan & Thi Minh Uyen, Pham, 2024. "Fintech innovation for sustainable environment: Understanding the role of natural resources and human capital in BRICS using MMQR," Resources Policy, Elsevier, vol. 88(C).
    4. Sampene, Agyemang Kwasi & Li, Cai & Wiredu, John, 2024. "An outlook at the switch to renewable energy in emerging economies: The beneficial effect of technological innovation and green finance," Energy Policy, Elsevier, vol. 187(C).
    5. Dong, Xiao & Yu, Mingzhe, 2024. "Green bond issuance and green innovation: Evidence from China's energy industry," International Review of Financial Analysis, Elsevier, vol. 94(C).
    6. Kuang, Hewu & Liang, Yiyan & Zhao, Wenjia & Cai, Jiahong, 2023. "Impact of natural resources and technology on economic development and sustainable environment – Analysis of resources-energy-growth-environment linkages in BRICS," Resources Policy, Elsevier, vol. 85(PB).
    7. Xu, Yanling & Xu, Tian & Huang, Xiying & Chu, Chien-Chi, 2024. "Natural resources a curse or blessing: The story of Latin American and Caribbean economies employing bootstrap quantile method," Resources Policy, Elsevier, vol. 90(C).
    8. Yuecheng Xu & Yunfei Cai, 2024. "RETRACTED ARTICLE: Is green finance a motivator for energy transformation investments in the OECD?," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-15, June.
    9. Xu, Bin & Lin, Boqiang, 2024. "Green finance, green technology innovation, and wind power development in China: Evidence from spatial quantile model," Energy Economics, Elsevier, vol. 132(C).
    10. Cao, Fangzhi & Su, Chi-Wei & Qin, Meng & Moldovan, Nicoleta-Claudia, 2024. "The investment of renewable energy: Is green bond a safe-haven to hedge U.S. monetary policy uncertainty?," Energy, Elsevier, vol. 307(C).
    11. Wen Jiayu & Zehao Wang, 2024. "RETRACTED ARTICLE: Economic integration through renewable energy and digital currency in RCEP," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-16, April.
    12. Xia Fang & Zhenyu Yang & Yun Zhang & Xiao Miao, 2024. "Foreign direct investment and the structural transition of energy consumption: impact and mechanisms," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    13. Zander, Kerstin K. & Mathur, Deepika & Mathew, Supriya & Garnett, Stephen T., 2024. "Public views about the world's largest proposed solar farm in remote Australia," Energy Policy, Elsevier, vol. 191(C).
    14. Kushawaha, Deepak & Jain, Manisha, 2024. "Debt as catalyst: Empowering renewable energy in developing countries," Energy Policy, Elsevier, vol. 194(C).

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    More about this item

    Keywords

    Renewable energy; Green bonds; Trade openness; Panel data; Southeast Asia;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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