G2TT
来源类型Discussion paper
规范类型论文
来源IDDP14012
DP14012 Finance and Carbon Emissions
Ralph De Haas; Alexander Popov
发表日期2019-09-19
出版年2019
语种英语
摘要We study the relation between financial structure and carbon emissions in a large panel of countries and industries. For given levels of economic and financial development, emissions per capita are lower in economies that are relatively more equity-funded. Industry-level analysis reveals two channels. First, deeper stock markets reallocate investment towards cleaner industries and, second, they allow carbon-intensive industries to produce green patents and reduce their energy intensity. Only one-tenth of these industry-level reductions in domestic emissions is offset by increased carbon embedded in imports. A firm-level analysis of an exogenous shock to the cost of equity in Belgium confirms our findings.
主题Financial Economics
关键词Financial development Financial structure Carbon emissions Innovation
URLhttps://cepr.org/publications/dp14012-0
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/542896
推荐引用方式
GB/T 7714
Ralph De Haas,Alexander Popov. DP14012 Finance and Carbon Emissions. 2019.
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