| ID | 124704 |
| Title Proper | Green investment |
| Other Title Information | trends and determinants |
| Language | ENG |
| Author | Eyraud, Luc ; Benedict, Clement ; Wane, Abdoul |
| Publication | 2013. |
| Summary / Abstract (Note) | This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green investment and analyzes the trends and determinants of this investment over the last decade for 35 advanced and emerging countries. We use a new multi-country historical dataset and find that green investment has become a key driver of the energy sector and that its rapid growth is now mostly driven by China. Our econometric results suggest that green investment is boosted by economic growth, a sound financial system conducive to low interest rates, and high fuel prices. We also find that some policy interventions, such as the introduction of carbon pricing schemes or "feed-in-tariffs," which require use of "green" energy, have a positive and significant impact on green investment. Other interventions, such as biofuel support, do not appear to be associated with higher green investment. |
| `In' analytical Note | Energy Policy Vol.60; Sep.2013: p.852-865 |
| Journal Source | Energy Policy Vol.60; Sep.2013: p.852-865 |
| Key Words | Renewable resources and conservation ; Energy ; Environmental economics ; Trend ; Economic growth ; Green investment |