Global S&T Development Trend Analysis Platform of Resources and Environment
Role of Bank Lending in Financing Green Projects: A Dynamic Stochastic General Equilibrium Approach | |
[unavailable] | |
2018-10-17 | |
出版年 | 2018 |
语种 | 英语 |
国家 | 国际 |
领域 | 气候变化 |
英文摘要 |
![]() Only a positive financial shock to green firms can boost production and credit for the green sector. We develop an environmental dynamic stochastic general equilibrium (E-DSGE) model with heterogeneous production sectors. The model comprises low-carbon emission firms that finance their investments and production only through banking loans, and high-carbon emission firms that finance their investments either with bank loans or by issuing equities. Moreover, government imposes intensity targets to reduce pollution, and high-carbon emission firms buy permits to allow their production. The model studies the transmission mechanism of technology, monetary, and financial shocks and finds that only a positive financial shock to green firms can boost production and credit for the green sector. A financial shock can be interpreted as the borrowing capacity of firms in terms of tightening or relaxing the enforcement of collateral constraints. In contrast, a positive technology shock and easier monetary policy lead only to a short output on impact, but in the long term, green firms experience losses. We also analyze the impact of several macroprudential policies and find that only differentiated capital requirements can help to sustain green financing. WORKING PAPER NO: 881 |
URL | 查看原文 |
来源平台 | Asian Development Bank |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/236166 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | [unavailable]. Role of Bank Lending in Financing Green Projects: A Dynamic Stochastic General Equilibrium Approach,2018. |
条目包含的文件 | 下载所有文件 | |||||
文件名称/大小 | 文献类型 | 版本类型 | 开放类型 | 使用许可 | ||
adbi-wp881.pdf(466KB) | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 |
个性服务 |
推荐该条目 |
保存到收藏夹 |
查看访问统计 |
导出为Endnote文件 |
谷歌学术 |
谷歌学术中相似的文章 |
[[unavailable]]的文章 |
百度学术 |
百度学术中相似的文章 |
[[unavailable]]的文章 |
必应学术 |
必应学术中相似的文章 |
[[unavailable]]的文章 |
相关权益政策 |
暂无数据 |
收藏/分享 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。
修改评论