scholarly journals Do the Green Credit Guidelines Affect Renewable Energy Investment? Empirical Research from China

2021 ◽  
Vol 13 (16) ◽  
pp. 9331
Author(s):  
Kexian Zhang ◽  
Yan Wang ◽  
Zimei Huang
Keyword(s):  
Renewable Energy ◽  
Natural Experiment ◽  
Energy Transformation ◽  
Credit Policy ◽  
Short Term ◽  
Energy Investment ◽  
Mediating Role ◽  
Green Development ◽  
Renewable Energy Investment

How to promote renewable energy investment is central to energy transformation and green development. To take China’s “green credit guidelines” policy as a quasi-natural experiment, we investigate the impacts of green credit policy on renewable energy investment. Using the samples of 1021 Chinese listed enterprises during 2007–2017, we find that: Firstly, the introduction of the green credit guidelines has promoted renewable energy investment. Secondly, short-term debts play a mediating role in the impacts of green credit guidelines on renewable energy investment, while long-term debts play a masking role, and financing constraints do not play a significant role. Thirdly, the heterogeneous impacts on renewable energy investment are reflected in different ownerships and enterprise scales, with significant impacts on the state-owned enterprises and small ones.

scholarly journals The Impact of Green Credit on the Green Innovation Level of Heavy-Polluting Enterprises—Evidence from China

2022 ◽  
Vol 19 (2) ◽  
pp. 650
Author(s):  
Zhifeng Zhang ◽  
Hongyan Duan ◽  
Shuangshuang Shan ◽  
Qingzhi Liu ◽  
Wenhui Geng
Keyword(s):  
Natural Experiment ◽  
Double Difference ◽  
Credit Policy ◽  
Green Innovation ◽  
Innovation Activities ◽  
Corporate Credit ◽  
Credit Financing ◽  
The Cost ◽  
The Impact

This article uses the “Green Credit Guidelines” promulgated in 2012 as an example to construct a quasi-natural experiment and uses the double difference method to test the impact of the implementation of the “Green Credit Guidelines” on the green innovation activities of heavy-polluting enterprises. The study found that, in comparison to non-heavy polluting enterprises, the implementation of green credit policies inhibited the green innovation of all heavy-polluting enterprises. In the analysis of heterogeneity, this restraint effect did not differ significantly due to the nature of property rights and the company’s size. The mechanism test showed that green credit policy limits the efficiency of business investment and increases the cost of financing business debt. Eliminating corporate credit financing, particularly long-term borrowing, negatively impacts the green innovation behavior of listed companies.

scholarly journals The Impact of Economic Growth, Trade Openness and Technological Progress on Renewable Energy Use in Organization for Economic Co-Operation and Development Countries

2021 ◽  
Author(s):  
Md. Mahmudul Alam ◽  
Wahid Murad
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Least Squares ◽  
Technological Progress ◽  
Energy Use ◽  
Trade Openness ◽  
Oecd Countries ◽  
Ordinary Least Squares ◽  
Short Term

This study investigates the short-term and long-term impacts of economic growth, trade openness and technological progress on renewable energy use in Organization for Economic Co-operation and Development (OECD) countries. Based on a panel data set of 25 OECD countries for 43 years, we used the autoregressive distributed lag (ARDL) approach and the related intermediate estimators, including pooled mean group (PMG), mean group (MG) and dynamic fixed effect (DFE) to achieve the objective. The estimated ARDL model has also been checked for robustness using the two substitute single equation estimators, these being the dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS). Empirical results reveal that economic growth, trade openness and technological progress significantly influence renewable energy use over the long-term in OECD countries. While the long-term nature of dynamics of the variables is found to be similar across 25 OECD countries, their short-term dynamics are found to be mixed in nature. This is attributed to varying levels of trade openness and technological progress in OECD countries. Since this is a pioneer study that investigates the issue, the findings are completely new and they make a significant contribution to renewable energy literature as well as relevant policy development.

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