TY - JOUR
T1 - A time-varying Granger causality analysis between water stock and green stocks using novel approaches
AU - Tiwari, Aviral Kumar
AU - Adewuyi, Adeolu O.
AU - Adeleke, Musefiu Adebowale
AU - Abakah, Emmanuel Joel Aikins
N1 - Publisher Copyright:
© 2023 Elsevier B.V.
PY - 2023/10
Y1 - 2023/10
N2 - This study examined the Granger-causality between global water stock and global green stocks (MSCI global environmental index, global alternative energy index, global pollution prevention index and global green building index) using a battery of innovative causality methods with available daily data covering 23rd June 2009 to 23rd June 2022. Empirical results reveal many episodes of causality between global water stock and each of the global green stocks during the study period, including the post-global financial crisis and COVID-19 periods. The Granger-causality between the stocks was also noticed at different market periods and frequencies. Thus, the results confirmed the water-energy nexus and water-environment nexus. These results informed some policy recommendations to ensure sustainable economic development.
AB - This study examined the Granger-causality between global water stock and global green stocks (MSCI global environmental index, global alternative energy index, global pollution prevention index and global green building index) using a battery of innovative causality methods with available daily data covering 23rd June 2009 to 23rd June 2022. Empirical results reveal many episodes of causality between global water stock and each of the global green stocks during the study period, including the post-global financial crisis and COVID-19 periods. The Granger-causality between the stocks was also noticed at different market periods and frequencies. Thus, the results confirmed the water-energy nexus and water-environment nexus. These results informed some policy recommendations to ensure sustainable economic development.
KW - Green stocks
KW - Multi-scale Wavelet Causality approach
KW - Sustainable economic development
KW - Time-frequency approach
KW - Water stock
UR - http://www.scopus.com/inward/record.url?scp=85171473336&partnerID=8YFLogxK
U2 - 10.1016/j.eneco.2023.107010
DO - 10.1016/j.eneco.2023.107010
M3 - Article
AN - SCOPUS:85171473336
SN - 0140-9883
VL - 126
JO - Energy Economics
JF - Energy Economics
M1 - 107010
ER -