Chen Yongqi, Zhang Xiangying
Gongqing chenghui chengda capital management co., LTD, Shenzhen, 518000, Guangdong, China.
School of Banking and Finance, University of International Business and Economics, Beijing, 100000, China.
Environ Sci Pollut Res Int. 2023 Sep;30(45):101366-101378. doi: 10.1007/s11356-023-29293-z. Epub 2023 Aug 31.
The increasing integration of financial markets worldwide has brought about significant changes in the investment landscape for renewable energy. However, the connection between financial globalization and renewable energy investment has gotten relatively little consideration. As a result, the analysis's main goal is to determine the asymmetric nexus between financial globalization and renewable energy investment in China, covering the period from 1995 to 2021. The influence of financial globalization on investments in renewable energy has been calculated using the linear and non-linear ARDL frameworks. Both methods analyze the short-run and long-run relationships between financial globalization and renewable energy investment. The linear model highlights the favorable influence of financial globalization on renewable energy investment in the short and long run. On the other side, the non-linear model implies that a rise in financial globalization increases investment in renewable energy in the short and long run, and the fall in financial globalization cause the renewable energy investment to fall only in the long run. In addition, national income help promote renewable energy investment in both the short and long run in linear and non-linear models. Therefore, encouraging international cooperation to develop renewable energy projects through public-private partnerships can increase investment flows and provide greater access to financing.
全球金融市场日益融合，给可再生能源的投资格局带来了重大变化。然而，金融全球化与可再生能源投资之间的联系相对较少受到关注。因此，本分析的主要目标是确定1995年至2021年期间中国金融全球化与可再生能源投资之间的不对称关系。利用线性和非线性自回归分布滞后（ARDL）框架计算了金融全球化对可再生能源投资的影响。两种方法都分析了金融全球化与可再生能源投资之间的短期和长期关系。线性模型突出了金融全球化在短期和长期对可再生能源投资的有利影响。另一方面，非线性模型表明，金融全球化的上升在短期和长期都会增加对可再生能源的投资，而金融全球化的下降只会在长期导致可再生能源投资下降。此外，在非线性和线性模型中，国民收入在短期和长期都有助于促进可再生能源投资。因此，鼓励通过公私伙伴关系开展国际合作以开发可再生能源项目，可以增加投资流量并提供更多融资渠道。
