A Comparative Institutional Analysis of Green Finance Mechanisms for Egypt's Sustainable Infrastructure Transition
エジプトの持続可能なインフラ移行のためのグリーンファイナンスメカニズムの比較制度分析 (AI 翻訳)
abdallah elshafei
🤖 gxceed AI 要約
日本語
本論文は、エジプトのベンバン太陽光発電所やスエズ運河経済圏のグリーン水素プロジェクトを事例に、グリーンファイナンスの手段が成功するためには、制度設計と国家の能力や市場の成熟度との適合が重要であることを示した。取引コスト経済学や制度理論を用いて、多国間開発銀行による取引コスト削減や規制の断片化、政治的制約によるグリーンウォッシングリスクを分析し、3つの制度的枠組みを提示している。
English
This paper examines green finance mechanisms for Egypt's sustainable infrastructure, using case studies of Benban Solar Park and the Suez Canal green hydrogen project. It develops a comparative institutional framework combining transaction cost economics, institutional theory, and political economy to explain success factors. Key findings include the role of multilateral development banks in reducing transaction costs, regulatory fragmentation despite commitments, and political economy constraints leading to greenwashing risks. Three institutional arrangements are identified: the 'de-risked enclave' (Benban), the 'viability gap paradox' (hydrogen), and the 'sovereign signaling' model (green bonds).
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
エジプトの事例ではあるが、日本企業が中東・北アフリカ地域の再生可能エネルギープロジェクトに参画する際のグリーンファイナンス構造や制度課題を理解する上で参考になる。特に、ODAやJBICの関与を検討する際の制度的適合性の視点は有益。
In the global GX context
This paper contributes to the global green finance literature by shifting focus from instrument design to institutional fit, providing practical insights for emerging economies. It offers a framework that can inform international investors and multilateral banks involved in energy transition projects in developing countries.
👥 読者別の含意
🔬研究者:Highlights the importance of institutional analysis in green finance, offering a comparative framework useful for sustainable finance scholars.
🏢実務担当者:Provides lessons on reducing transaction costs and navigating regulatory fragmentation for project developers and investors in emerging markets.
🏛政策担当者:Suggests policy pathways for scaling green finance, emphasizing the need for institutional alignment rather than just instrument design.
📄 Abstract（原文）
Abstract This research goes further than just being descriptive in the analysis of green finance instruments, as it intends to create and deploy a comparative institutional framework that will account for the different degrees of effectiveness that these instruments have in tackling market and government failures in developing nations. By using mixed-methods for the analysis of Egypt's green projects such as the Benban Solar Park and Suez Canal Economic Zone green hydrogen project, we show that the success of an instrument does not only depend on its design features but also on its correspondence with certain configurations of state capacity and market maturity. From the theoretical perspective, we are merging transaction cost economics, and institutional theory, and political economy to elaborately explain: (1) the way multilateral development banks lowered transaction costs in Benban through contracting standardization; (2) the reason why there is regulatory fragmentation in spite of high-level commitments; and (3) the political economy constraints that in turn create “greenwashing” risks. Based on the above, we detected three institutional arrangements: the “de-risked enclave” (Benban), the “viability gap paradox” (SCZone hydrogen), and the “sovereign signaling” model (green bonds). Our shift in focus from the instrument design to the institutional fit will benefit the sustainable finance literature and also provide Egypt and other similar emerging economies with practical policy pathways. JEL Classification: Q56, G38, O53, Q58, G32.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.21203/rs.3.rs-9087555/v1first seen 2026-06-11 04:54:35 · last seen 2026-06-16 04:34:04
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