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THE FINANCIAL SECTOR AND RENEWABLE ENERGY DEVELOPMENT IN NON-OECD COUNTRIES: AN EMPIRICAL ANALYSIS

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NADEEM, SYED ALI

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Abstract

This paper examines the role of the financial sector in the development of renewable energy generation in non-OECD countries. A panel dataset of 156 countries is constructed from 1980-2006. The estimations suggest a positive impact of commercial banking on non-hydro energy production such as wind, solar and geo-thermal. None of the equity market indicators suggest a positive relationship. There is also strong evidence that the Kyoto Protocol has had a positive impact on renewable energy development

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FINANCE AND RENEWABLE ENEGY, RENEWABLE ENERGY , BANKING AND RENEWABLE ENERGY

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