Global S&T Development Trend Analysis Platform of Resources and Environment
Default Risks, Moral Hazard, and Market-Based Solution: Evidence from Renewable Energy Market in Bangladesh | |
[unavailable] | |
2019-09-23 | |
出版年 | 2019 |
语种 | 英语 |
国家 | 国际 |
领域 | 气候变化 |
英文摘要 |
Financial constraints, higher prices, natural disasters, and poor after-sales service increase the probability of default. We analyze a unique case of default risks and associated factors of a solar home system (SHS) program in Bangladesh and, within that context, propose a theoretical market-based solution to finance a renewable energy (RE) program. We first develop a theoretical framework that highlights the problem of moral hazard in a subsidized government-sponsored program and then empirically assess the default risks under the program. Using a primary survey data of 1,300 households, and applying probit and cox’s proportional hazard model, we find that financial constraints, higher prices, natural disasters, and poor after-sales service are the factors that increase the probability of default, but in a different magnitude depending on the nature of customers. The factors that increase the probability of default for the group who are not willing to pay back (about 35% of total defaulters) are linked to adverse selection, perhaps due to moral hazard problems. The proposed market-based solution predicts that if the government uses a spillover revenue-based financing approach, it will increase the rate of return for private investors as well as the efficiency of RE programs. WORKING PAPER NO: 1005 |
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/238760 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | [unavailable]. Default Risks, Moral Hazard, and Market-Based Solution: Evidence from Renewable Energy Market in Bangladesh,2019. |
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-wp1005.pdf(820KB) | 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