A time-varying Granger causality analysis between water stock and green stocks using novel approaches

Aviral Kumar Tiwari; Adeolu O. Adewuyi; Musefiu Adebowale Adeleke; Emmanuel Joel Aikins Abakah

doi:10.1016/j.eneco.2023.107010

A time-varying Granger causality analysis between water stock and green stocks using novel approaches

Aviral Kumar Tiwari
, Adeolu O. Adewuyi
, Musefiu Adebowale Adeleke
, Emmanuel Joel Aikins Abakah

Indian Institute of Management Bodh Gaya
University of Ibadan
University of Ghana Business School

Research output: Contribution to journal › Article › peer-review

17 Citations (Scopus)

Abstract

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.

Original language	English
Article number	107010
Journal	Energy Economics
Volume	126
DOIs	https://doi.org/10.1016/j.eneco.2023.107010
Publication status	Published - Oct 2023
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

Keywords

Green stocks
Multi-scale Wavelet Causality approach
Sustainable economic development
Time-frequency approach
Water stock

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10.1016/j.eneco.2023.107010

Cite this

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title = "A time-varying Granger causality analysis between water stock and green stocks using novel approaches",

abstract = "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.",

keywords = "Green stocks, Multi-scale Wavelet Causality approach, Sustainable economic development, Time-frequency approach, Water stock",

author = "Tiwari, \{Aviral Kumar\} and Adewuyi, \{Adeolu O.\} and Adeleke, \{Musefiu Adebowale\} and Abakah, \{Emmanuel Joel Aikins\}",

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year = "2023",

month = oct,

doi = "10.1016/j.eneco.2023.107010",

language = "English",

volume = "126",

journal = "Energy Economics",

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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

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

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DO - 10.1016/j.eneco.2023.107010

M3 - Article

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SN - 0140-9883

VL - 126

JO - Energy Economics

JF - Energy Economics

M1 - 107010

ER -

A time-varying Granger causality analysis between water stock and green stocks using novel approaches

Abstract

UN SDGs

Keywords

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