The linkage between clean energy stocks and the fluctuations in oil price and financial stress in the US and Europe? Evidence from QARDL approach
By Xiaojuan He, Shekhar Mishra, Ameenullah Aman, Muhammad Shahbaz, Asif Razzaq, Arshian Sharif. 2021
149 citations recorded by the source corpus.
Abstract This paper investigates the clean energy stock returns against the changes in oil prices, gold prices, and financial stress in the US and European economies by applying Quantile Autoregressive Distributed Lag approach. The long-run results reveal that financial stress has a significantly negative effect on clean energy stock indices of the US and Europe in lower quantiles (i.e., bearish market conditions). Similarly, the negative effects are also found for gold prices on clean energy stocks of Europe in higher and extremely higher quantiles (when the market is bullish) and US in almost all the quantiles (i.e., bearish, normal, and bullish market conditions). However, the fluctuations in oil prices positively affect clean energy stocks of US and Europe in higher and extremely higher quantiles. In short-run, the negative effect of financial stress on clean energy stocks is conversely found in extreme higher quantiles of Europe and extreme higher and lower quantiles of the US. Moreover, the positive nexus between oil prices and clean energy stocks of the US are found across all the quantiles.
Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment
View Paper: https://www.semanticscholar.org/paper/325a58758adce0686aa0b235baa88f3665272895
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In Economics and Econometrics
In Renewable Energy, Sustainability and the Environment
Citations in the corpus
- Investigating the asymmetric linkages between infrastructure development, green innovation, and consumption-based material footprint: Novel empirical estimations from highly resource-consuming economies (2021, background): “Besides, the increase in 30 the use of natural resources raises the question of their eventual scarcity for the nations (Fernández-31 Herrero and Duro, 2019; He et al., 2021; Wang et al. 2020).”