Financing Renewable Energy Projects in Major Emerging Market Economies: Evidence in the Perspective of Sustainable Economic Development

Ali M. Kutan, Sudharshan Reddy Paramati (Lead / Corresponding author), Mallesh Ummalla, Abdulrasheed Zakari

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    41 Citations (Scopus)
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    Abstract

    This research paper aims to explore the role of FDI inflows and stock market development on the promotion of renewable energy consumption. Further, study investigates the effect of renewable energy consumption on CO2 emissions and economic output across a panel of Brazil, China, India and South Africa. Study utilizes annual data from 1990 to 2012 and employs various robust panel econometric techniques. The findings confirm that both FDI inflows and stock market development play an important role in promoting renewable energy consumption. The results also reveal that renewable energy consumption helps to mitigate the growth of CO2 emissions and promotes economic development.
    Original languageEnglish
    Pages (from-to)1762-1778
    Number of pages17
    JournalEmerging Markets Finance and Trade
    Volume54
    Issue number8
    Early online date23 Aug 2017
    DOIs
    Publication statusPublished - 23 Aug 2017

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