Effect of geopolitical risk and economic uncertainty indices on renewable energy  

作　　者：Xin Zhao Kamel Si Mohammed Yaohui Wang Paweł Stępień Grzegorz Mentel 

机构地区：[1]School of Statistics and Applied Mathematics,Anhui University of Finance and Economics,Bengbu,PR China [2]Faculty of Economics and Management,University Ain Temouchent Belhadj Bouchaib,Algeria [3]School of Urban and Regional Science,Institute of Finance and Economics Research,Shanghai University of Finance and Economic,Shanghai,PR China [4]Institute of Economics and Finance,University of Szczecin,Poland [5]Department of Quantitative Methods,Faculty of Management,Rzeszow University of Technology,Rzeszow 35-959,Poland

出　　处：《Geoscience Frontiers》2024年第3期237-247,共11页地学前缘（英文版）

基　　金：supported by the Ministry of Education of the People’s Republic of China Humanities and Social Sciences Youth Foundation(Grant No.22YJC910014);the Social Sciences Planning Youth Project of Anhui Province(Grant No.AHSKQ2022D138);the Anhui Province Excellent Young Talents Fund Program of Higher Education Institutions(Grant No.2023AH030015);the Innovation Development Research Project of Anhui Province(Grant No.2023CX507);the National Natural Science Foundation of China(Grant No.71934001).

摘　　要：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 directions,speed and trends for a standard information difference impulse from the GPR and the EUI.A positive 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 safehaven properties at various scales.Moreover,building more secure and reliable renewable energy systems can help countries to increase their energy independence,which protects them against the risks of political and economic uncertainty.

关 键 词：Renewable energy Uncertainty indices Impulse response Safe-haven 

分 类 号：P642.22[天文地球—工程地质学]