Clean Energy, Australian Electricity Markets, and Information Transmission

Karim, Sitara; Naeem, Muhammad Abubakr

doi:10.46557/001c.29973

Cited by 18 publications

(9 citation statements)

References 18 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…(2020), Naeem and Karim (2021), Naeem et al. (2021c) and Karim and Naeem (2021) highlighting the diversification benefits of clean energy, bond market and green bonds during the periods of financial distress in particular. These findings inculcate significant insights for investors who tend to avert the risk of their investments and relish the gains of their diverse portfolios.…”

Section: Resultsmentioning

confidence: 99%

Do global factors drive the interconnectedness among green, Islamic and conventional financial markets?

Karim

Naeem

2022

IJMF

Self Cite

View full text Add to dashboard Cite

PurposeThis study aims to examine the connectedness among green, Islamic and conventional financial markets from December 2008 to May 2021. Moreover, the impact of global factors on the connectedness of given financial markets is also observed.Design/methodology/approachThis study first employed the time-varying parameter vector autoregressions (TVP-VAR) technique to explore the connectedness of markets. Second, This study utilized the wavelet coherence analysis to test the time-frequency impact of global factors in terms of implied volatilities of stock, oil, gold, currency and bond on the connectedness across financial markets.FindingsThis study finds Islamic stocks, sustainability index and S&P500 composite index are the net transmitters, whereas Sukuk, commodity index, bond market, clean energy and green bonds are the net recipient of spillovers. Time-varying features of green, Islamic and conventional financial markets are evident in system-wide connectedness. This study further evidenced that global factors drive the connectedness of financial markets, particularly during stressful times.Practical implicationsThe findings of this study furnish significant implications for policymakers, regulatory authorities, investors, financial market participants and portfolio managers in terms of carefully assessing the unique characteristics offered by each financial market in terms of risk mitigation and diversifying the portfolios.Originality/valueUsing a portfolio of green, Islamic and conventional financial markets, the uniqueness of this study lies in the examination of the connectedness of these markets by deploying the TVP-VAR technique. In addition, wavelet analysis offers a significant contribution in terms of global factors driving the connectedness of green, Islamic and conventional markets.

show abstract

Section: Resultsmentioning

confidence: 99%

Do global factors drive the interconnectedness among green, Islamic and conventional financial markets?

Karim

Naeem

2022

IJMF

Self Cite

View full text Add to dashboard Cite

show abstract

“…Analyzing the financial market efficiency has important implications for academic researchers and market participants ( Karim and Naeem, 2021 , Karim and Naeem, 2022 ). Moreover, a comprehensive understanding of market efficiency dynamics is a crucial policy tool to warrant accurate asset pricing and a well-functioning market ( Aloui et al, 2018 ).…”

Section: Literature Reviewmentioning

confidence: 99%

Comparing the asymmetric efficiency of dirty and clean energy markets pre and during COVID-19

Naeem

Karim

Farid

et al. 2022

Economic Analysis and Policy

Self Cite

View full text Add to dashboard Cite

“…On the contrary, bitcoin is one of the leading cryptocurrencies, which raises the environmental concern as the algorithmic structure of bitcoin requires huge power backup to authenticate the transaction. In addition, the footprint (carbon) on one bitcoin transaction is compared to 37% million tons of carbon emission (CO 2 ) of New Zeeland (Karim and Naeem 2021). Therefore, one asset class may affect another.…”

Section: Research Motivationmentioning

confidence: 99%

Do green bonds offer a diversification opportunity during COVID-19?—an empirical evidence from energy, crypto, and carbon markets

Yadav

Kumar

Mukherjee

et al. 2022

Environ Sci Pollut Res

View full text Add to dashboard Cite

The present study is a novel attempt to unravel the connectedness of the green bond with energy, crypto, and carbon markets using the S&P green bond index (RSPGB). We consider MAC global solar energy index (RMGS) and ISE global wind energy index (RIGW) as proxies of the energy market and use bitcoin and the European energy exchange carbon index (REEX) for the cryptocurrency and carbon market. Employing the Diebold and Yilmaz (2012), Baruník and Krehlík (2018), and wavelet coherence econometric techniques, we find that the energy market (RMGS) has the highest connectedness derived from other asset classes, and bitcoin (RBTC) has the least connectedness. Concurrently, we find that the risk transmission is heterogeneous in different scales as the short period has less connectedness than the medium and long run. We conclude that the overall diversification opportunity among green bonds, energy stock, bitcoin, and the carbon market is more in the short-run than in the medium and long-run. In summary, our findings on the green bond market will provide investors, portfolio managers, and policymakers with critical insight into ensuring a sustainable financial market.

show abstract

Clean Energy, Australian Electricity Markets, and Information Transmission

Cited by 18 publications

References 18 publications

Do global factors drive the interconnectedness among green, Islamic and conventional financial markets?

Do global factors drive the interconnectedness among green, Islamic and conventional financial markets?

Comparing the asymmetric efficiency of dirty and clean energy markets pre and during COVID-19

Do green bonds offer a diversification opportunity during COVID-19?—an empirical evidence from energy, crypto, and carbon markets

Contact Info

Product

Resources

About