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Asymmetric connectedness among regional green economies, carbon markets, and oil shocks

2025-10Artigo científico Acesso aberto
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datacite.subject.sdg13:Ação Climática
datacite.subject.sdg07:Energias Renováveis e Acessíveis
datacite.subject.sdg08:Trabalho Digno e Crescimento Económico
dc.contributor.authorHanif, Waqas
dc.contributor.authorEl Khoury, Rim
dc.contributor.authorGubareva, Mariya
dc.contributor.authorTeplova, Tamara
dc.date.accessioned2026-03-19T11:52:16Z
dc.date.available2026-03-19T11:52:16Z
dc.date.issued2025-10
dc.description.abstractThis study investigates spillovers among the US, Europe, and Asia green economies, carbon allowances and oil price shocks in 2010–2023. We segregate oil shocks in demand-, supply-, and risk-driven price movements. The TVP-VAR methodology is applied to model the dynamic interrelationships among the markets. Our static connectedness outcomes highlight a substantial role of the US and European green economy and the demand-driven shocks as emitters of innovations to other markets. It is found that European green economy is the main innovations contributor to global carbon allowances whereas the demand-driven oil shocks dominate in transmitting spillovers to others. We demonstrate that major economic events make connectedness increase. Our asymmetry analysis reveals a heightened susceptibility of the system to negative news, with the impacts of negative spillovers overcoming those of positive ones. The dynamics of spillovers emphasize how crucial it is to take into account both the time and the sign. Our research advances understanding of the complex relationships within the green-carbon-oilshocks system. The results are potentially useful for risk managers and investors, as they allow the creation of effective risk management plans.eng
dc.description.sponsorshipUID/06522/2025
dc.identifier.doi10.1016/j.iref.2025.104416
dc.identifier.issn1059-0560
dc.identifier.urihttp://hdl.handle.net/10400.1/28484
dc.language.isoeng
dc.peerreviewedyes
dc.publisherElsevier
dc.relationCenter for Advanced Studies in Management and Economics
dc.relationCSG - Research in Social Sciences and Management
dc.relation.ispartofInternational Review of Economics & Finance
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/
dc.subjectGreen economy
dc.subjectCarbon allowances
dc.subjectOil price shocks
dc.subjectTVP-VAR model
dc.subjectNetwork connectedness
dc.subjectPairwise spillovers
dc.subjectAsymmetric innovations transmission
dc.titleAsymmetric connectedness among regional green economies, carbon markets, and oil shockseng
dc.typejournal article
dspace.entity.typePublication
oaire.awardNumberUIDB/04007/2020
oaire.awardNumberUIDB/04521/2020
oaire.awardTitleCenter for Advanced Studies in Management and Economics
oaire.awardTitleCSG - Research in Social Sciences and Management
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04007%2F2020/PT
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04521%2F2020/PT
oaire.citation.startPage104416
oaire.citation.titleInternational Review of Economics & Finance
oaire.citation.volume103
oaire.fundingStream6817 - DCRRNI ID
oaire.fundingStream6817 - DCRRNI ID
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85
person.familyNameHanif
person.givenNameWaqas
person.identifier.ciencia-id861A-7BB4-89FE
person.identifier.orcid0000-0002-0034-2049
person.identifier.scopus-author-id57201879548
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
project.funder.nameFundação para a Ciência e a Tecnologia
relation.isAuthorOfPublication4a080072-0db9-42cd-925b-24ccf0c4b046
relation.isAuthorOfPublication.latestForDiscovery4a080072-0db9-42cd-925b-24ccf0c4b046
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