Li, Yiying and Yan, Cheng and Ren, Xiaohang (2023) Do uncertainties affect clean energy markets? Comparisons from a multi-frequency and multi-quantile framework. Energy Economics, 121. p. 106679. DOI https://doi.org/10.1016/j.eneco.2023.106679
Li, Yiying and Yan, Cheng and Ren, Xiaohang (2023) Do uncertainties affect clean energy markets? Comparisons from a multi-frequency and multi-quantile framework. Energy Economics, 121. p. 106679. DOI https://doi.org/10.1016/j.eneco.2023.106679
Li, Yiying and Yan, Cheng and Ren, Xiaohang (2023) Do uncertainties affect clean energy markets? Comparisons from a multi-frequency and multi-quantile framework. Energy Economics, 121. p. 106679. DOI https://doi.org/10.1016/j.eneco.2023.106679
Abstract
Clean energy market has great potential to promote the balance between economic development and environmental protection, and has gradually become one of the vital energy markets. This paper investigates the real effects of external uncertainties from oil price shocks (supply, demand, and risk shocks) and political factors on the clean energy market based on a multi-frequency and multi-quantile framework. The empirical results show that both oil price shocks significantly impact the clean energy market, especially the oil demand shock. Two political factors, economic policy uncertainty and geopolitical risk, also have a one-way influence on the clean energy market. Additionally, the impact of most external uncertainties on the clean energy market is more prominent in the long term than in the short and medium term. Finally, the clean energy market with different market conditions also has different abilities to resist external uncertainties. Our research analyses all the joint distributions between each external uncertainty and the clean energy index in identical time frames. It is helpful for investors to construct more rational investment strategies and for policymakers to make appropriate policy arrangements.
Item Type: | Article |
---|---|
Uncontrolled Keywords: | Uncertainties; Clean energy markets; Multi-frequency; Multi-quantile |
Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Essex Business School |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 08 Jun 2023 14:54 |
Last Modified: | 16 May 2024 21:48 |
URI: | http://repository.essex.ac.uk/id/eprint/35424 |
Available files
Filename: 1-s2.0-S0140988323001779-main.pdf
Licence: Creative Commons: Attribution 3.0