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Effect of geopolitical risk and economic uncertainty indices on renewable energy

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In this study,the relationships between five renewable energy sub-sectors markets and the geopolitical risk(GPR)and economic uncertainty indices(EUI)were examined using daily data from March 30,2012,to April 1,2022.Convergent cross mapping results show that the renewable energy indices have definite relationships with the GPR and EUI.The renewable energy indices show differences in response direc-tions,speed and trends for a standard information difference impulse from the GPR and the EUI.A pos-itive dynamic conditional correlation between renewable energies and EUI was observed in the first and second waves of the COVID-19 outbreak.In contrast,there was a relatively decreased effect for two risk indices during the Russia-Ukraine conflict of February-March 2022.Our results show that renewable energy may act as a time-varying hedge against economic uncertainty and GPR owing to its safe-haven properties at various scales.Moreover,building more secure and reliable renewable energy sys-tems can help countries to increase their energy independence,which protects them against the risks of political and economic uncertainty.

Renewable energyUncertainty indicesImpulse responseSafe-haven

Xin Zhao、Kamel Si Mohammed、Yaohui Wang、Pawe? St?pień、Grzegorz Mentel

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School of Statistics and Applied Mathematics,Anhui University of Finance and Economics,Bengbu.PR China

Faculty of Economics and Management,University Ain Temouchent Belhadj Bouchaib,Algeria

School of Urban and Regional Science,Institute of Finance and Economics Research,Shanghai University of Finance and Economic,Shanghai,PR China

Institute of Economics and Finance,University of Szczecin,Poland

Department of Quantitative Methods,Faculty of Management,Rzeszow University of Technology,Rzeszow 35-959,Poland

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Ministry of Education of the People's Republic of China Humanities and Social Sciences Youth FoundationSocial Sciences Planning Youth Project of Anhui ProvinceAnhui Province Excellent Young Talents Fund Program of Higher Education InstitutionsInnovation Development Research Project of Anhui Province国家自然科学基金

22YJC910014AHSKQ2022D1382023AH0300152023CX50771934001

2024

10.1016/j.gsf.2023.101655

地学前缘(英文版)
中国地质大学（北京） 北京大学

地学前缘(英文版)

CSTPCD
影响因子：0.576
ISSN：1674-9871
年,卷(期)：2024.15(3)
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