Climate policy and international capital reallocation / Marius Fourné, Xiang Li ; editor: Halle Institute for Economic Research (IWH) - Member of the Leibniz Association
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Climate policy and international capital reallocation
Discovery
1902327071
URN
urn:nbn:de:gbv:3:2-1090664
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Author
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Publication history
Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, September 2024
Content
1 Online-Ressource (III, 36 Seiten, Seite A1-A12, 1,01 MB) : Diagramme
Edition
This Version: August 22, 2024
Language
eng
Comment
Literaturverzeichnis: Seite 32-36
Abstract
This study employs bilateral data on external assets to examine the impact of climate policies on the reallocation of international capital. We find that the stringency of climate policy in the destination country is significantly and positively associated with an increase in the allocation of portfolio equity and banking investment to that country. However, it does not show significant effects on the allocation of foreign direct investment and portfolio debt. Our findings are not driven by valuation effects, and we present evidence that suggests diversification, suasion, and uncertainty mitigation as possible underlying mechanisms.
Series
IWH-Diskussionspapiere ; 2024, no. 20 (September 2024) ppn:837399270