Financial Development and Renewable Energy Technology Development in Different Sectors: Application of Panel Tobit Model

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AGHAEI MAJID; REZAGHOLIZADEH MAHDIEH; Abdi Yonnes

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Journal: Journal of Economic Research Year:2019 | Volume:54 | Issue:2 Page(s): 253-284

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Title

Financial Development and Renewable Energy Technology Development in Different Sectors: Application of Panel Tobit Model

Author(s)

AGHAEI MAJID | REZAGHOLIZADEH MAHDIEH | Abdi Yonnes | Issue Writer Certificate

Keywords

Financial DevelopmentQ2

Renewable EnergiesQ1

Tobit Panel ModelQ1

Abstract

The importance of Renewable Energies in sustainable development, greenhouse gas reduction and increase energy supply security on the one hand, and required high level of financing for Renewable energy projects, on the other hand, have enhanced the role and importance of Financial Development in renewable energy deployment. Due to the importance of this issue, this study tried to evaluate the impact of Financial Development in the stock market, credit market and whole financial markets on renewable energy technologies (in the four energy sectors including; biomass, hydropower, wind and solar) over the period 2002 till 2015, based on Tobit regression in developed and developing countries. Based on the Results, Financial Development has a significant effect on renewable technology development regardless of which kind of renewable energy was used. It also led to a reduction in environmental pollution and climate changes, especially in developed countries. The results also indicated that stock market development, credit market development and whole financial market development has the most impact on the renewable technology installation capacity development of solar, biomass, wind and hydropower energies in developed countries, respectively. While financial market development has the most impact on technology installation capacity development of wind, biomass and solar energies in developing countries.

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APA: Copy

AGHAEI, MAJID, REZAGHOLIZADEH, MAHDIEH, & Abdi, Yonnes. (2019). Financial Development and Renewable Energy Technology Development in Different Sectors: Application of Panel Tobit Model. TAHGHIGHAT-E-EGHTESADI, 54(2 ), 253-284. SID. https://sid.ir/paper/12091/en

Vancouver: Copy

AGHAEI MAJID, REZAGHOLIZADEH MAHDIEH, Abdi Yonnes. Financial Development and Renewable Energy Technology Development in Different Sectors: Application of Panel Tobit Model. TAHGHIGHAT-E-EGHTESADI[Internet]. 2019;54(2 ):253-284. Available from: https://sid.ir/paper/12091/en

IEEE: Copy

MAJID AGHAEI, MAHDIEH REZAGHOLIZADEH, and Yonnes Abdi, “Financial Development and Renewable Energy Technology Development in Different Sectors: Application of Panel Tobit Model,” TAHGHIGHAT-E-EGHTESADI, vol. 54, no. 2 , pp. 253–284, 2019, [Online]. Available: https://sid.ir/paper/12091/en

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