Financialisation of the European Union Emissions Trading System and its influencing factors in quantiles

International Journal of Finance & Economics, Год журнала: 2024, Номер unknown

Опубликована: Фев. 19, 2024

Abstract This study analyses the financialisation of carbon market and its possible external shocks, with a focus on European Union Emissions Trading System (EU ETS), by investigating quantile dependence influence paths from stage three onwards. To achieve this, we construct theoretical model five factors related to empirically investigate significant influencing their under different quantiles using group Least Absolute Shrinkage Selection Operator (LASSO) regression models. We find that price WTI crude oil risk‐aversion index have effect EU ETS at extremely high quantiles. Factors such as price, precipitation, average share thermal power companies, federal funds rate statistically impact medium However, no low quantiles, indicating policy instruments are necessary effectively regulate operation market. Therefore, it is crucial for stakeholders pay close attention these adapt changing conditions.

Язык: Английский

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Asymmetric effects of commodity and stock market on Chinese green market: Evidence from wavelet-based quantile-on-quantile approach

Renewable Energy, Год журнала: 2024, Номер 230, С. 120794 - 120794

Опубликована: Июнь 13, 2024

Язык: Английский

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Tail-risk connectedness between sukuk and conventional bond markets and their determinants: Evidence from a country-level analysis

Borsa Istanbul Review, Год журнала: 2023, Номер 24(1), С. 137 - 163

Опубликована: Дек. 3, 2023

The study investigates the tail-risk spillover between markets for sukuk and conventional bonds across fifteen countries 2016 2023. First, we estimate a time varying parameter-value at risk (TVP-VAR)-based frequency connectedness model to measure total, short-, long-term connectedness, which address investment horizons of different investors. in market is smaller all frequencies than bond market, might offer investors better opportunities diversification. Dynamic total fluctuates over time, proves that event dependent. Covid-19 crisis Russia-Ukraine war are main periods when intensified with high uncertainty. results this insights who seek diversification policy makers especially during uncertain economic conditions.

Язык: Английский

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The spatial spillover effects of clean energy consumption and production on sustainable economic development in China

Heliyon, Год журнала: 2024, Номер 10(8), С. e28976 - e28976

Опубликована: Апрель 1, 2024

The massive consumption of fossil energy has resulted in high CO2 emissions, posing a formidable challenge to global sustainable economic development (SED). As countries endeavor shift from clean sources achieve SED, research on the impact is scarce, and quantitative analysis lacking. This study measured China's SED used spatial econometric model examine production across 30 provinces China 2008 2020. Results show that (1) exhibits significant positive autocorrelation characteristics, forming "point-to-area" pattern. (2) Clean consumption, production, structure all contribute promotion region have spillover effects. (3) A considerable regional disparity exists SED. eastern central regions effects, whereas western opposite. Notably, estimated coefficient Durbin relatively small, reflecting ongoing transition its limited role promoting sustainability. Joint efforts differentiated policies are essential develop economic.

Язык: Английский

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Spillovers and dependency between green finance and traditional energy markets under different market conditions

Energy Policy, Год журнала: 2024, Номер 192, С. 114263 - 114263

Опубликована: Июль 20, 2024

Язык: Английский

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