In this paper, we examine the impact of global economic uncertainty on foreign direct investment (FDI) in Asian emerging markets using the new world uncertainty index (WWUI). The results show an insignificant and indirect impact of global uncertainty on FDI inflows in Asian emerging markets.

The study uses a novel approach to test for the persistence of green asset returns, fossil fuel returns, and climate policy uncertainty. We find evidence of persistence in the series when asymmetries are considered in our test. The fossil fuel returns and climate policy uncertainty have no effect on the persistence of sustainable green asset returns. Policies around climate policy uncertainty and green asset returns should be long term.