IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v346y2026ics0360544226003889.html

Financial markets and renewable energy transitions: Evidence from energy investment, domestic credit, market capitalisation and institutional quality

Author

Listed:
  • Jiancheng, Xi
  • Boateng, Seth Acquah
  • Karikari, Frank Agyemang
  • Khan, Sana
  • Sackitey, Gabriel Mordzifa
  • Fumey, Michael Provide

Abstract

The increasing demand for financial investors, multilateral establishments, and private capital markets in renewable energy funding reveals the strategic role of finance in determining future energy directions. This study investigates the role of energy investment and financial market dynamics in enhancing clean energy adoption in the Next Eleven (N-11) countries, while considering the moderating role of institutional quality. The study disaggregates renewable energy into Solar Power, Wind Power, and Hydro Power, revealing more robust dimensions. The study used data from 2000 to 2024 and adopted the Driscoll-Kraay Fixed Effects to handle cross-sectional dependence and heteroskedasticity. The results show that energy investment has a constant, significant positive direct contribution to both solar photovoltaic and wind power capacity. Domestic credit has a significant positive effect on solar PV, wind power, and hydropower. Market capitalisation effect is also positive and significant in the case of all renewable power capacities, indicating the influence of deeper and more liquid capital markets in attracting capital in renewable power infrastructure. The moderation test showed domestic credit to have consistently positive marginal effects that strengthen with institutional quality across all technologies. Market capitalisation effects diverge by technology: solar shows declining effects under stronger institutions, while wind and hydro shift from negative effects under weak institutions to strongly positive under robust ones. The study recommends that by deepening and greening domestic credit markets, creating vibrant capital markets for clean energy, and improving institutional frameworks, the N-11 can accelerate their transition to sustainable energy systems and mobilise private investment at scale.

Suggested Citation

  • Jiancheng, Xi & Boateng, Seth Acquah & Karikari, Frank Agyemang & Khan, Sana & Sackitey, Gabriel Mordzifa & Fumey, Michael Provide, 2026. "Financial markets and renewable energy transitions: Evidence from energy investment, domestic credit, market capitalisation and institutional quality," Energy, Elsevier, vol. 346(C).
    • Handle: RePEc:eee:energy:v:346:y:2026:i:c:s0360544226003889
    DOI: 10.1016/j.energy.2026.140286
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544226003889
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2026.140286?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Sneddon, Chris & Howarth, Richard B. & Norgaard, Richard B., 2006. "Sustainable development in a post-Brundtland world," Ecological Economics, Elsevier, vol. 57(2), pages 253-268, May.
    2. Andrew Bell & Malcolm Fairbrother & Kelvyn Jones, 2019. "Fixed and random effects models: making an informed choice," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(2), pages 1051-1074, March.
    3. Ruan, Yunsheng & Wang, Wenqing & Abubakar, Muhammad & Ahmad, Nazeer, 2025. "Global economic resilience: Developing green growth strategies, renewable energy integration, and environmental economics for sustainability," Renewable Energy, Elsevier, vol. 251(C).
    4. Ni, Xiaoran & Jin, Qi & Huang, Kunhao, 2022. "Environmental regulation and the cost of debt: Evidence from the carbon emission trading system pilot in China," Finance Research Letters, Elsevier, vol. 49(C).
    5. Chen, Yanan & Qi, Haozhi, 2024. "Dynamic interplay between Chinese energy, renewable energy stocks, and commodity markets: Time-frequency causality study," Renewable Energy, Elsevier, vol. 228(C).
    6. Boateng, Seth Acquah & Jiancheng, Xi & Karikari, Frank Agyemang & Sackitey, Gabriel Mordzifa & Moro, Kamal Deen, 2025. "Resource dependencies, market concentration, trade barriers and green technology deployment: A comparative analysis of solar, wind, and hydropower installation patterns," Renewable Energy, Elsevier, vol. 255(C).
    7. Feng, Siyu & Lazkano, Itziar, 2025. "Energy storage and clean energy transitions," Energy Policy, Elsevier, vol. 198(C).
    8. Mihaela Simionescu & Magdalena Rădulescu & Javier Cifuentes-Faura, 2023. "Renewable Energy Consumption-Growth Nexus in European Countries: A Sectoral Approach," Evaluation Review, , vol. 47(2), pages 287-319, April.
    9. Wang, Jianda & Dong, Xiucheng & Dong, Kangyin, 2022. "How digital industries affect China's carbon emissions? Analysis of the direct and indirect structural effects," Technology in Society, Elsevier, vol. 68(C).
    10. Gabor, Daniela & Braun, Ben, 2025. "Green macrofinancial regimes," LSE Research Online Documents on Economics 126904, London School of Economics and Political Science, LSE Library.
    11. Frees,Edward W., 2004. "Longitudinal and Panel Data," Cambridge Books, Cambridge University Press, number 9780521535380.
    12. Yingyue Sun & Yu Wei & Yizhi Wang, 2024. "Do green economy stocks matter for the carbon and energy markets? Evidence of connectedness effects and hedging strategies," China Finance Review International, Emerald Group Publishing Limited, vol. 14(4), pages 666-693, August.
    13. Xinxin Wang & Zeshui Xu & Yong Qin & Marinko Skare, 2023. "The global impact of financial development on renewable energy in a panel structural vector autoregression analysis," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(3), pages 1364-1383, June.
    14. Pedroni, Peter, 2004. "Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis," Econometric Theory, Cambridge University Press, vol. 20(3), pages 597-625, June.
    15. Gyamfi, Bright Akwasi & Agozie, Divine Q. & Bekun, Festus Victor, 2022. "Can technological innovation, foreign direct investment and natural resources ease some burden for the BRICS economies within current industrial era?," Technology in Society, Elsevier, vol. 70(C).
    16. Xie, Yongjing & Lin, Boqiang, 2025. "Financial leasing and China’s renewable energy firms' investment behavior: In the context of government subsidy reduction," Renewable and Sustainable Energy Reviews, Elsevier, vol. 214(C).
    17. Sampene, Agyemang Kwasi & Li, Cai & Wiredu, John, 2024. "An outlook at the switch to renewable energy in emerging economies: The beneficial effect of technological innovation and green finance," Energy Policy, Elsevier, vol. 187(C).
    18. Javed, Asif & Shabir, Maria & Rao, Fabeha & Uddin, Muhammad Salah, 2025. "Effect of green technological innovation and financial development on green energy transition in N-11 countries: Evidence from the novel Method of Moments Quantile Regression," Renewable Energy, Elsevier, vol. 242(C).
    19. Seyed Alireza Athari & Dervis Kirikkaleli, 2025. "How do climate policy uncertainty and renewable energy and clean technology stock prices co-move? evidence from Canada," Empirical Economics, Springer, vol. 68(1), pages 353-371, January.
    20. Muhammad Imran & Muhammad Kamran Khan & Salman Wahab & Bilal Ahmed & Zhang Jijian, 2025. "The paradox of resource-richness: unraveling the effects on financial markets in natural resource abundant economies," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-30, December.
    21. Dumitrescu, Elena-Ivona & Hurlin, Christophe, 2012. "Testing for Granger non-causality in heterogeneous panels," Economic Modelling, Elsevier, vol. 29(4), pages 1450-1460.
    22. Frees,Edward W., 2004. "Longitudinal and Panel Data," Cambridge Books, Cambridge University Press, number 9780521828284.
    23. Rafindadi, Abdulkadir Abdulrashid & Ozturk, Ilhan, 2017. "Impacts of renewable energy consumption on the German economic growth: Evidence from combined cointegration test," Renewable and Sustainable Energy Reviews, Elsevier, vol. 75(C), pages 1130-1141.
    24. Xudong Gao & Mingjun Fan, 2023. "The role of quality institutions and technological innovations in environmental sustainability: Panel data analysis of BRI countries," PLOS ONE, Public Library of Science, vol. 18(6), pages 1-19, June.
    25. Young, Alwyn, 2019. "Channeling Fisher: randomization tests and the statistical insignificance of seemingly significant experimental results," LSE Research Online Documents on Economics 101401, London School of Economics and Political Science, LSE Library.
    26. Przychodzen, Wojciech & Przychodzen, Justyna, 2020. "Determinants of renewable energy production in transition economies: A panel data approach," Energy, Elsevier, vol. 191(C).
    27. M. Hashem Pesaran, 2021. "General diagnostic tests for cross-sectional dependence in panels," Empirical Economics, Springer, vol. 60(1), pages 13-50, January.
    28. Gene M. Grossman & Alan B. Krueger, 1995. "Economic Growth and the Environment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(2), pages 353-377.
    29. Anton, Sorin Gabriel & Afloarei Nucu, Anca Elena, 2020. "The effect of financial development on renewable energy consumption. A panel data approach," Renewable Energy, Elsevier, vol. 147(P1), pages 330-338.
    30. Manske, David & Lehneis, Reinhold & Thrän, Daniela, 2025. "The landscape of the renewable electricity supply - Municipal contributions to Germany's energy transition," Renewable Energy, Elsevier, vol. 240(C).
    31. Alwyn Young, 2019. "Channeling Fisher: Randomization Tests and the Statistical Insignificance of Seemingly Significant Experimental Results," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(2), pages 557-598.
    32. Wang, Yiwei & Sun, Zhaoyang & Feng, Chao & Wu, Ran & Yan, Jiale, 2025. "Unravelling the impact of clean energy on the tourism sector of the stock market: Evidence from quantile granger causality and wavelet coherence analysis," International Review of Economics & Finance, Elsevier, vol. 98(C).
    33. Ansaram, Karishma & Petitjean, Mikael, 2024. "A global perspective on the nexus between energy and stock markets in light of the rise of renewable energy," Energy Economics, Elsevier, vol. 131(C).
    34. John C. Driscoll & Aart C. Kraay, 1998. "Consistent Covariance Matrix Estimation With Spatially Dependent Panel Data," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 549-560, November.
    35. Zheng, Deyuan & Zhao, Chunguang & Hu, Jiaying, 2023. "Impact of geopolitical risk on the volatility of natural resource commodity futures prices in China," Resources Policy, Elsevier, vol. 83(C).
    36. Yi, Yuxin & Zhang, Liming & Du, Lei & Sun, Helin, 2024. "Cross-regional integration of renewable energy and corporate carbon emissions: Evidence from China's cross-regional surplus renewable energy spot trading pilot," Energy Economics, Elsevier, vol. 135(C).
    37. Shahbaz, Muhammad & Topcu, Betül Altay & Sarıgül, Sevgi Sümerli & Vo, Xuan Vinh, 2021. "The effect of financial development on renewable energy demand: The case of developing countries," Renewable Energy, Elsevier, vol. 178(C), pages 1370-1380.
    38. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(S1), pages 653-670, November.
    39. Adedoyin, Festus Fatai & Bekun, Festus Victor & Hossain, Md. Emran & Ofori, Elvis kwame & Gyamfi, Bright Akwasi & Haseki, Murat Ismet, 2023. "Glasgow climate change conference (COP26) and its implications in sub-Sahara Africa economies," Renewable Energy, Elsevier, vol. 206(C), pages 214-222.
    40. Matteo Abbruzzese & Davide Infante & Janna Smirnova, 2025. "The diffusion of renewable energy production in European countries: the role of incentives," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 34(1), pages 70-93, January.
    41. Rani, Tayyaba & Wang, Feng & Ur Rehman, Syed Aziz & Amjad, Muhammad Asif, 2025. "Shaping sustainable futures in BRICS-T economies: The role of digitalization with moderating effects of green technology innovation and financial inclusion," Technology in Society, Elsevier, vol. 82(C).
    42. Yang, Xiaoyun, 2023. "Role of green finance and investment in sustainable resource development in China," Resources Policy, Elsevier, vol. 86(PA).
    43. Xu, Guangyue & Yang, Mengge & Li, Shuang & Jiang, Mingqi & Rehman, Hafizur, 2024. "Evaluating the effect of renewable energy investment on renewable energy development in China with panel threshold model," Energy Policy, Elsevier, vol. 187(C).
    44. Evelyn Nwamaka Ogbeide-Osaretin & Bright Orhewere & Oseremen Ebhote & Sadiq Oshoke Akhor & Israel. O. Imide, 2022. "Climate Change, Poverty and Income Inequality Linkage: Empirical Evidence from Nigeria," International Journal of Energy Economics and Policy, Econjournals, vol. 12(5), pages 332-341, September.
    45. Kao, Chihwa, 1999. "Spurious regression and residual-based tests for cointegration in panel data," Journal of Econometrics, Elsevier, vol. 90(1), pages 1-44, May.
    46. Ayman Issa & Jalal Rajeh Hanaysha, 2023. "Powering profits: how renewable energy boosts financial performance in European non-financial companies," International Journal of Accounting & Information Management, Emerald Group Publishing Limited, vol. 31(4), pages 600-622, June.
    47. Xiaoli Liao & Stefano Bresciani & Ciro Troise & Waqar Ali Ather Bukhari & Azaz Ali Ather Bukhari, 2025. "How Solar, Wind, and Biomass Energy Create Sustainable Pathways Towards Green Economic Growth? Insights From the Top Five Global Renewable Energy Economies," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(3), pages 4265-4282, June.
    48. M. Hashem Pesaran, 2007. "A simple panel unit root test in the presence of cross-section dependence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(2), pages 265-312.
    49. Jarijari, Theodorah & Deka, Abraham & Cavusoglu, Behiye, 2025. "The synergistic role of natural resources, green finance and green technological innovations in promoting environmental sustainability in Sub-Saharan Africa," Resources Policy, Elsevier, vol. 105(C).
    50. Naimoğlu, Mustafa & Shahbaz, Muhammad, 2025. "Managing green growth: A new and comprehensive perspective on productivity, institutions, energy, and policy in emerging countries," Energy, Elsevier, vol. 320(C).
    51. Yang, Shaopeng & Fu, Yuxi, 2025. "Interconnectedness among supply chain disruptions, energy crisis, and oil market volatility on economic resilience," Energy Economics, Elsevier, vol. 143(C).
    52. repec:bla:obuest:v:61:y:1999:i:0:p:653-70 is not listed on IDEAS
    53. Ram, Manish & Osorio-Aravena, Juan Carlos & Aghahosseini, Arman & Bogdanov, Dmitrii & Breyer, Christian, 2022. "Job creation during a climate compliant global energy transition across the power, heat, transport, and desalination sectors by 2050," Energy, Elsevier, vol. 238(PA).
    54. Frees, Edward W., 1995. "Assessing cross-sectional correlation in panel data," Journal of Econometrics, Elsevier, vol. 69(2), pages 393-414, October.
    55. Demirtas, Cuma & Tiwari, Aviral Kumar & Soyu Yıldırım, Esra & Shahbaz, Muhammad, 2025. "Does financial development support renewable energy consumption: Evidence from the UK," Renewable Energy, Elsevier, vol. 243(C).
    56. Taitiya Kenneth Yuguda & Sunday Adiyoh Imanche & Tian Ze & Tosin Yinka Akintunde & Bobby Shekarau Luka, 2023. "Hydropower development, policy and partnership in the 21st century: A China-Nigeria outlook," Energy & Environment, , vol. 34(4), pages 1170-1204, June.
    57. Evrim Mandaci, Pınar & Cagli, Efe C. & Taşkin, Dilvin & Tedik Kocakaya, Birce, 2025. "Quantile-on-quantile connectedness of uncertainty with fossil and green energy markets," Renewable Energy, Elsevier, vol. 249(C).
    58. Arvin, Mak B. & Pradhan, Rudra P. & Nair, Mahendhiran S., 2021. "Are there links between institutional quality, government expenditure, tax revenue and economic growth? Evidence from low-income and lower middle-income countries," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 468-489.
    59. Longyu Shi & Linwei Han & Fengmei Yang & Lijie Gao, 2019. "The Evolution of Sustainable Development Theory: Types, Goals, and Research Prospects," Sustainability, MDPI, vol. 11(24), pages 1-16, December.
    60. Ding, Feng & Yang, Jianping & Zhou, Zan, 2023. "Economic profits and carbon reduction potential of photovoltaic power generation for China's high-speed railway infrastructure," Renewable and Sustainable Energy Reviews, Elsevier, vol. 178(C).
    61. Mingbo Zheng & Gen-Fu Feng & Chun-Ping Chang, 2023. "Is green finance capable of promoting renewable energy technology? Empirical investigation for 64 economies worldwide," Oeconomia Copernicana, Institute of Economic Research, vol. 14(2), pages 483-510, June.
    62. Zhao, Dong & Sibt e-Ali, Muhammad & Omer Chaudhry, Muhammad & Ayub, Bakhtawer & Waqas, Muhammad & Ullah, Irfan, 2024. "Modeling the Nexus between geopolitical risk, oil price volatility and renewable energy investment; evidence from Chinese listed firms," Renewable Energy, Elsevier, vol. 225(C).
    63. Ulaş Ünlü & Furkan Yıldırım & Ayhan Kuloğlu & Ersan Ersoy & Emin Hüseyin Çetenak, 2022. "Nexus between Renewable Energy, Credit Gap Risk, Financial Development and R&D Expenditure: Panel ARDL Approach," Sustainability, MDPI, vol. 14(23), pages 1-19, December.
    64. Xiue Li & Zhirao Liu & Tariq Ali, 2024. "Energy–Economy–Carbon Emissions: Impacts of Energy Infrastructure Investments in Pakistan Under the China–Pakistan Economic Corridor," Sustainability, MDPI, vol. 16(23), pages 1-26, November.
    65. Allen, Franklin & Santomero, Anthony M., 1997. "The theory of financial intermediation," Journal of Banking & Finance, Elsevier, vol. 21(11-12), pages 1461-1485, December.
    66. Ben Lahouel, Béchir & Taleb, Lotfi & Ben Zaied, Younes & Managi, Shunsuke, 2021. "Does ICT change the relationship between total factor productivity and CO2 emissions? Evidence based on a nonlinear model," Energy Economics, Elsevier, vol. 101(C).
    67. Bashir, Muhammad Farhan & Pata, Ugur Korkut & Shahzad, Luqman, 2025. "Linking climate change, energy transition and renewable energy investments to combat energy security risks: Evidence from top energy consuming economies," Energy, Elsevier, vol. 314(C).
    68. Daniela Gabor & Benjamin Braun, 2025. "Green macrofinancial regimes," Review of International Political Economy, Taylor & Francis Journals, vol. 32(3), pages 542-568, May.
    69. Saadaoui, Jamel & Smyth, Russell & Vespignani, Joaquin, 2025. "Ensuring the security of the clean energy transition: Examining the impact of geopolitical risk on the price of critical minerals," Energy Economics, Elsevier, vol. 142(C).
    70. Sun, Guanglin & Li, Jianfeng & Shang, Zezhong, 2022. "Return and volatility linkages between international energy markets and Chinese commodity market," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Waaje, Abdul & Roshid, Md Mustaqim & Islam, Sohidul & Chandra Bhowmik, Reday & Rahaman, Muhammad Abdur & Hassan, Md Mahedi, 2025. "Tourism, trade, energy, and economic development: Drivers of ecological footprint in the World’s top tourist destinations," Innovation and Green Development, Elsevier, vol. 4(3).
    2. Gheorghița Dincă & Ioana-Cătălina Netcu & Camelia Ungureanu, 2025. "Renewable Energy Transitions in the EU: A Comparative Panel Data Perspective," Energies, MDPI, vol. 18(18), pages 1-31, September.
    3. Adolfo Maza & Paula Gutiérrez-Portilla, 2022. "Outward FDI and exports relation: A heterogeneous panel approach dealing with cross-sectional dependence," International Economics, CEPII research center, issue 170, pages 174-189.
    4. Xie, Bofeng & Rehman, Mubeen Abdur & Zhang, Junyan & Yang, Runze, 2022. "Does the financialization of natural resources lead toward sustainability? An application of advance panel Granger non-causality," Resources Policy, Elsevier, vol. 79(C).
    5. Vo, Duc, 2019. "The Impact of Foreign Direct Investment on Environment Degradation: Evidence from Emerging Markets in Asia," MPRA Paper 103292, University Library of Munich, Germany.
    6. Anh Hoang To & Dao Thi-Thieu Ha & Ha Minh Nguyen & Duc Hong Vo, 2019. "The Impact of Foreign Direct Investment on Environment Degradation: Evidence from Emerging Markets in Asia," IJERPH, MDPI, vol. 16(9), pages 1-24, May.
    7. Naima Chrid & Sami Saafi & Mohamed Chakroun, 2021. "Export Upgrading and Economic Growth: a Panel Cointegration and Causality Analysis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(2), pages 811-841, June.
    8. Francisco García-Lillo & Eduardo Sánchez-García & Bartolomé Marco-Lajara & Pedro Seva-Larrosa, 2023. "Renewable Energies and Sustainable Development: A Bibliometric Overview," Energies, MDPI, vol. 16(3), pages 1-22, January.
    9. Abdelaziz Boukhelkhal, 2022. "Energy use, economic growth and CO2 emissions in Africa: does the environmental Kuznets curve hypothesis exist? New evidence from heterogeneous panel under cross-sectional dependence," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(11), pages 13083-13110, November.
    10. Nahiduzzaman, Md. & Sarker, Sanjoy Kumar & Kuri, Bapon Chandra & Dhar, Bablu Kumar & Roy, Partha Pratim & Karim, Rejaul, 2025. "Navigating environmental vulnerability and resource dependence: Toward equitable and sustainable growth pathways in resource-rich economies," Resources Policy, Elsevier, vol. 111(C).
    11. Massimiliano Mazzanti & Antonio Musolesi, 2013. "The heterogeneity of carbon Kuznets curves for advanced countries: comparing homogeneous, heterogeneous and shrinkage/Bayesian estimators," Applied Economics, Taylor & Francis Journals, vol. 45(27), pages 3827-3842, September.
    12. Saidi, Hichem & Ozturk, Ilhan & Hakimi, Abdelaziz & Ullah, Sana, 2026. "Central bank independence–green investment nexus: Is energy inflation a barrier or stimulator?," Research in International Business and Finance, Elsevier, vol. 81(C).
    13. Rishan Adha & Cheng-Yih Hong & Somya Agrawal & Li-Hua Li, 2023. "ICT, carbon emissions, climate change, and energy demand nexus: The potential benefit of digitalization in Taiwan," Energy & Environment, , vol. 34(5), pages 1619-1638, August.
    14. Viglioni, Marco Túlio Dinali & Calegario, Cristina Lelis Leal & Viglioni, Arthur Cesar Dinali & Bruhn, Nádia Campos Pereira, 2024. "Foreign direct investment and environmental degradation: Can intellectual property rights help G20 countries achieve carbon neutrality?," Technology in Society, Elsevier, vol. 77(C).
    15. Jing Gao & Wen Xu & Lei Zhang, 2021. "Tourism, economic growth, and tourism-induced EKC hypothesis: evidence from the Mediterranean region," Empirical Economics, Springer, vol. 60(3), pages 1507-1529, March.
    16. Saidi, Hichem & El Montasser, Ghassen & Ajmi, Noomen, 2018. "Renewable Energy, Quality of Institutions and Economic Growth in MENA Countries: a Panel Cointegration Approach," MPRA Paper 84055, University Library of Munich, Germany.
    17. Zhang, Zhenhua & Zhao, Mingcheng & Zhang, Xinyu & Huang, Zhaohan & Feng, Yanchao, 2025. "What is the causal relationship among geopolitical risk, financial development, and energy transition ? Evidence from 25 OECD countries," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    18. Wang, Qiang & Hu, Sailan & Ge, Yunfei & Li, Rongrong, 2023. "Impact of eco-innovation and financial efficiency on renewable energy – Evidence from OECD countries," Renewable Energy, Elsevier, vol. 217(C).
    19. Mohammad Mafizur Rahman & Xuan-Binh (Benjamin) Vu & Son Nghiem, 2022. "Economic Growth in Six ASEAN Countries: Are Energy, Human Capital and Financial Development Playing Major Roles?," Sustainability, MDPI, vol. 14(8), pages 1-17, April.
    20. Boateng, Seth Acquah & Jiancheng, Xi & Karikari, Frank Agyemang & Sackitey, Gabriel Mordzifa & Moro, Kamal Deen, 2025. "Resource dependencies, market concentration, trade barriers and green technology deployment: A comparative analysis of solar, wind, and hydropower installation patterns," Renewable Energy, Elsevier, vol. 255(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:346:y:2026:i:c:s0360544226003889. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.