Asymmetric Effects of Renewable Energy Markets on China’s Green Financial Markets: A Perspective of Time and Frequency Dynamic Connectedness

Author:

Meng Juan1,Jiang Yonghong2,Zhao Haiwen3,Tanliang Ansheng2

Affiliation:

1. Business School, Hunan First Normal University, Changsha 410205, China

2. School of Economics, Jinan University, Guangzhou 510006, China

3. Médicis Business School, 75013 Paris, France

Abstract

This study investigates dynamic risk spillover effects between renewable energy markets and Chinese green financial markets from a time-frequency perspective by utilizing weekly data from two types of markets with a span from January 2010 to August 2022. The results show that the total spillover and net spillover effects vary widely across time. Short-run spillover is more dominant than long-run spillover. In most cases, green finance markets play the role of risk receivers in the system, while renewable energy markets are the main risk transmitters in the short run and the main risk spillover contributors in the long run. Finally, we determine that the hedging effect of green finance assets in the renewable energy market may decrease after the COVID-19 pandemic.

Funder

National Natural Science Foundation of the PRC

Hunan Provincial Department of Education

Publisher

MDPI AG

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3