Financing Renewable Energy Projects in Major Emerging Market Economies: Evidence in the Perspective of Sustainable Economic Development |
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| Authors: | Ali M Kutan Sudharshan Reddy Paramati Mallesh Ummalla Abdulrasheed Zakari |
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| Institution: | 1. Department of Economics and Finance, Southern Illinois University Edwardsville, Edwardsville, Illinois, USA;2. International Institute for Financial Studies, Jiangxi University of Finance and Economies, Nanchang, Jiangxi Province, China;3. School of Business, University of Dundee, Dundee, United Kingdom;4. School of Economics, University of Hyderabad, Telangana, India;5. Department of Economics, Usmanu Danfodiyo University, Sokoto, Nigeria |
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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. Furthermore, 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. |
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| Keywords: | CO2 emissions FDI inflows renewable energy stock market development sustainable economic development |
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