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Comparing the asymmetric efficiency of dirty and clean energy markets pre and during COVID-19.
Naeem, Muhammad Abubakr; Karim, Sitara; Farid, Saqib; Tiwari, Aviral Kumar.
  • Naeem MA; Accounting and Finance Department, United Arab Emirates University, P.O. Box 15551, Al-Ain, United Arab Emirates.
  • Karim S; South Ural State University, Lenin Prospect 76, Chelyabinsk 454080, Russian Federation.
  • Farid S; Nottingham University Business School, University of Nottingham Malaysia Campus, Semenyih, Malaysia.
  • Tiwari AK; Dr Hassan Murad School of Management, University of Management and Technology, Lahore, Pakistan.
Econ Anal Policy ; 75: 548-562, 2022 Sep.
Article in English | MEDLINE | ID: covidwho-1894983
ABSTRACT
In the backdrop of the recent COVID-19 pandemic, the study examines the comparative asymmetric efficiency of dirty and clean energy markets pre and during the COVID-19 pandemic. For this purpose, we utilize an asymmetric multifractality detrended fluctuation analysis (A-MF-DFA). The study's findings uncover the presence of asymmetric multifractality in clean and dirty energy markets. In addition, multifractality in the energy markets is sensitive to trends, time horizon and major events. More importantly, the results suggest superior efficiency of clean-energy markets compared to conventional energies. We confirm the time-varying nature of market efficiency in the energy markets, and during the recent COVID-19 outbreak, market inefficiencies in the clean and dirty energy markets soared. In this way, the study holds meaningful insights for policymakers, energy policy practitioners, investors, and financial market participants to choose between clean (dirty) investments based on their asymmetric efficiency (inefficiency).
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Full text: Available Collection: International databases Database: MEDLINE Language: English Journal: Econ Anal Policy Year: 2022 Document Type: Article Affiliation country: J.eap.2022.06.015

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Full text: Available Collection: International databases Database: MEDLINE Language: English Journal: Econ Anal Policy Year: 2022 Document Type: Article Affiliation country: J.eap.2022.06.015