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Econ Anal Policy ; 75: 389-395, 2022 Sep.
Article in English | MEDLINE | ID: covidwho-1936315


The outbreak of the Covid-19 pandemic has impeded the transition to sustainability and net-zero targets. The immediate focus on health-related issues limits the progress of the pro-ecological initiatives. Financial institutions can play a pivotal role in supporting green recovery, notably in emerging markets. This paper evaluates the incentives of sustainable financing for banking firms in member states of the Gulf Cooperation Council. Using a comprehensive sample of banks between 2011 and 2021, we report that increasing green exposure will improve the intermediation spread. Similarly, when banks have environmental considerations for extending loans, their risk of default will reduce. The impact of green financing is more profound for smaller banks indicating that responsible lending provides them with new earning avenues while mitigating the risk. The findings are reassurance for green recovery, and because of the explicit benefits, banks can play a critical role in helping in achieving sustainable development goals. The results have important implications for regulators, monetary authorities, and the banking sector since green financing can lead to more efficient and resilient financial systems.

Resour Policy ; 75: 102453, 2022 Mar.
Article in English | MEDLINE | ID: covidwho-1510259


In this study, we focus on the role of jumps and leverage in predicting the realized volatility (RV) of China's crude oil futures. We employ a standard mixed data sampling (MIDAS) modeling framework. First, the in-sample results indicate that the jump and leverage effects are useful in predicting the RV of Chinese crude oil futures. Second, the out-of-sample results suggest that jump has very significant predictive power at the one-day-ahead horizon while the leverage effect contains more useful information for long-term predictions. Moreover, our results are supported by a number of robustness checks. Finally, we find new evidence that the prediction model that considers the leverage effect has the best predictive power during the COVID-19 pandemic.