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The impact of geopolitical risks and financial development on renewable energy consumption in Vietnam

Author

Listed:
  • Nguyen Thi Hong

    (Foreign Trade University, Hanoi, Viet Nam)

  • Nguyen Tra My

    (Foreign Trade University, Hanoi, Viet Nam)

  • Nguyen Thi Minh Trang

    (Worldquant Investment Software Vietnam LLC, Hanoi, Viet Nam)

Abstract

At COP28 in Dubai in 2023, countries committed to scaling up renewable energy to curb CO2 emissions from fossil fuels (Grant et al., 2024). However, this transition faces significant challenges due to rising geopolitical risks that disrupt political stability and socio-economic conditions. This study examines the impact of geopolitical risks and financial development on renewable energy in the context of Viet Nam from 1995 to 2024. Results from the ARDL model indicate that geopolitical risks and financial development individually reduce renewable energy demand; however, their interaction significantly enhances renewable energy consumption. Based on these findings, several policy implications are proposed to help policymakers develop effective strategies for promoting the adoption of renewable energy.

Suggested Citation

  • Nguyen Thi Hong & Nguyen Tra My & Nguyen Thi Minh Trang, 2026. "The impact of geopolitical risks and financial development on renewable energy consumption in Vietnam," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 16(3), pages 121-143.
    • Handle: RePEc:bjw:econen:v:16:y:2026:i:3:p:121-143
    DOI: 10.46223/HCMCOUJS.econ.en.16.3.4377.2026
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    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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