Shades between Black and Green Investment: Balance or Imbalance?
This paper analyses the links established between environmental indices and the oil price adopting a double perspective, long-term and short-term relationships. For that purpose, we employ the Bounds Test and bivariate conditional heteroscedasticity models. In the long run, the pattern of behaviour...
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| Veröffentlicht in: | Sustainability 2021-05, Vol.13 (9), p.5024 |
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| creator | de Sousa Gabriel, Vítor Manuel Miralles-Quirós, María Mar Miralles-Quirós, José Luis |
| description | This paper analyses the links established between environmental indices and the oil price adopting a double perspective, long-term and short-term relationships. For that purpose, we employ the Bounds Test and bivariate conditional heteroscedasticity models. In the long run, the pattern of behaviour of environmental indices clearly differed from that of the oil prices, and it was not possible to identify cointegrating vectors. In the short-term, it was possible to conclude that, in contemporaneous terms, the variables studied tended to follow similar paths. When the lag of the oil price variable was considered, the impacts produced on the stock market sectors were partially of a negative nature, which allows us to suppose that this variable plays the role of a risk factor for environmental investment. |
| doi_str_mv | 10.3390/su13095024 |
| format | Article |
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| source | MDPI - Multidisciplinary Digital Publishing Institute; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals |
| subjects | Alternative energy sources Bivariate analysis Climate change Environmental policy Equilibrium Human rights Investments Literature reviews Macroeconomics Oil Prices Risk analysis Risk factors Securities markets Shades Stock exchanges Sustainability Variables |
| title | Shades between Black and Green Investment: Balance or Imbalance? |
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