Quantile granger causality between clean energy and tourism stock indices: Evidence from regional markets
クリーンエネルギーと観光株価指数の分位グレンジャー因果性：地域市場からの証拠 (AI 翻訳)
Ozge Demirkale, Naime Irem Duran
🤖 gxceed AI 要約
日本語
本研究は、クリーンエネルギー指数と米国・欧州・中国・オーストラリアの観光株価指数との間の予測関係を、分位グレンジャー因果性とウェーブレットコヒーレンスを用いて分析。2010～2023年の月次データから、極端な市場条件下で非対称かつ時変的な連関が存在することを発見。構造VARモデルにより地域固有の反応も確認し、分布依存型・地域文脈型アプローチの重要性を強調。
English
This study examines predictive relationships between the WilderHill Clean Energy Index and tourism stock indices from the US, Europe, China, and Australia using quantile Granger causality and wavelet coherence on monthly data from 2010-2023. It finds heterogeneous linkages under extreme market conditions, with increasing co-movement between clean energy and tourism sectors, highlighting the need for distribution-sensitive and regionally contextualized approaches for investment and policy.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本では観光とクリーンエネルギーの連携がGX推進の一環として注目されるが、本論文は金融市場レベルでの連関を実証。日本の観光関連企業や投資家が、クリーンエネルギー市場の変動を考慮したポートフォリオ戦略を検討する際の参考となる。
In the global GX context
This paper contributes to the global GX context by empirically linking clean energy and tourism sectors in financial markets, an underexplored intersection. It provides evidence of asymmetric and time-varying dependencies, relevant for investors and policymakers in regions like the EU and US where sustainable finance and tourism recovery are key policy areas.
👥 読者別の含意
🔬研究者:Provides novel evidence on clean energy-tourism financial linkages using quantile methods, useful for researchers in sustainable finance and green transition.
🏢実務担当者:Offers insights for portfolio diversification and risk management by showing how clean energy shocks affect tourism stocks under extreme conditions.
🏛政策担当者:Highlights the need for region-specific policies that consider financial interdependencies between clean energy and tourism sectors.
📄 Abstract（原文）
As two pillars of the green transition, clean energy and tourism have gained growing strategic prominence in the landscape of sustainable finance, warranting a deeper investigation into their financial interdependencies. However, empirical research exploring their interaction in financial markets, particularly from a regional perspective, remains relatively limited. This study contributes to that objective by examining the predictive relationships between the WILDERHILL Clean Energy Index and tourism indices from the United States, Europe, China, and Australia. Using monthly data from 2010 to 2023, the analysis applies quantile Granger causality and wavelet coherence methods to capture asymmetric and time-varying dynamics. Additionally, a structural VAR model is used to assess region-specific responses to clean energy shocks. While conventional Granger tests do not indicate significant linkages, quantile-based approaches uncover heterogeneous connections that emerge under extreme market conditions. The findings reveal increasing co-movement between clean energy and tourism sectors and emphasize the importance of distribution-sensitive and regionally contextualized approaches in guiding investment and policy-making strategies.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1371/journal.pone.0326256first seen 2026-05-05 19:07:51
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