Green Finance Transmission Mechanisms and Renewable Energy Deployment: Threshold Effects in EU Carbon Markets
Yazarlar (2)
Apostolos Ampountolas
Boston University, Amerika Birleşik Devletleri
Boston University, Amerika Birleşik Devletleri
Doç. Dr. Yağmur SAĞLAM Sinop Üniversitesi, Türkiye
| Makale Türü | Özgün Makale (SSCI, AHCI, SCI, SCI-Exp dergilerinde yayınlanan tam makale) | ||
| Dergi Adı | Research in International Business and Finance (Q1) | ||
| Dergi ISSN | 0275-5319 Dergi Bilgileri (2026) | ||
| Dergi Tarandığı Indeksler | SSCI | ||
| Makale Dili | İngilizce | Basım Tarihi | 09-2026 |
| Kabul Tarihi | – | Yayınlanma Tarihi | 01-05-2026 |
| Cilt / Sayı / Sayfa | 89 / 1 / – | DOI | 10.1016/j.ribaf.2026.103484 |
| Makale Linki | https://doi.org/10.1016/j.ribaf.2026.103484 | ||
| Kurumsal açık arşiv linki | https://www.sciencedirect.com/science/article/pii/S0275531926002114?via%3Dihub | ||
| UAK Araştırma Alanları |
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| Özet |
| This study examines how green finance instruments transmit investment signals to renewable energy deployment in the European Union, emphasizing the role of carbon price regimes in shaping financial effectiveness. Using EU-27 aggregate time-series data for 2000--2023, we implement a sequential empirical strategy combining specification testing, threshold analysis, and regime-specific temporal precedence assessment. Formal tests confirm the presence of nonlinear dynamics, supporting the use of threshold models over linear alternatives. We identify a carbon price threshold in the€ 30--35/tonne range, above which the responsiveness of renewable deployment to green finance instruments increases substantially. Below this range, carbon pricing exerts limited influence, while above it, financial transmission strengthens and directional relationships emerge. Carbon pricing and green bonds are found to be complementary rather than substitutive: carbon price shocks generate immediate investment signals, whereas green bonds exert more gradual but persistent effects consistent with long-horizon project financing. Scenario analysis indicates that maintaining carbon prices above the threshold range could accelerate renewable deployment toward 2030 targets. The findings offer new insights for international investors and policymakers by identifying a regime-dependent mechanism through which supranational climate policy credibility shapes cross-border green capital allocation and the pricing of transition risk. |
| Anahtar Kelimeler |
| Carbon pricing | Climate policy | European Union | Green finance | Renewable energy | SVAR analysis | Threshold effects | Time series analysis |
Science Direct
Green Finance Transmission Mechanisms and Renewable Energy Deployment: Threshold Effects in EU Carbon Markets
BM Sürdürülebilir Kalkınma Amaçları
| Atıf Sayıları | |
| Web of Science | 1 |
| Scopus | 1 |
| Google Scholar | 1 |