Please use this identifier to cite or link to this item: http://dspace.univ-temouchent.edu.dz/handle/123456789/4061
Title: Effect of geopolitical risk and economic uncertainty indices on renewable energy
Authors: Zhao, Xin
Si Mohammed, Kamel
Wang, Yaohui
Ste˛pien, Paweł
Mentel, Grzegorz
Keywords: Renewable energy Uncertainty indices Impulse response Safe-haven
Issue Date: 2023
Publisher: Geoscience Frontiers
Citation: https://doi.org/10.1016/j.gsf.2023.101655
Abstract: In this study, the relationships between five renewable energy sub-sectors markets and the geopolitical risk (GPR) and economic uncertainty indices (EUI) were examined using daily data from March 30, 2012, to April 1, 2022. Convergent cross mapping results show that the renewable energy indices have definite relationships with the GPR and EUI. The renewable energy indices show differences in response directions, speed and trends for a standard information difference impulse from the GPR and the EUI. A positive dynamic conditional correlation between renewable energies and EUI was observed in the first and second waves of the COVID-19 outbreak. In contrast, there was a relatively decreased effect for two risk indices during the Russia–Ukraine conflict of February–March 2022. Our results show that renewable energy may act as a time-varying hedge against economic uncertainty and GPR owing to its safehaven properties at various scales. Moreover, building more secure and reliable renewable energy systems can help countries to increase their energy independence, which protects them against the risks of political and economic uncertainty.
URI: http://dspace.univ-temouchent.edu.dz/handle/123456789/4061
Appears in Collections:Département des sciences financières et comptabilité

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