Promise of a green economic recovery post-Covid: trojan horse or turning point?

Taherzadeh, Oliver

doi:10.1017/sus.2020.33

Cited by 19 publications

(9 citation statements)

References 65 publications

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“…Emerging at a time when international efforts were already focused on responding to crises of environmental and social unsustainability, the pandemic and its side effects have stalled progress toward achieving several of the UN's Sustainable Development Goals (SDGs) by 2030 ( Sachs et al, 2020 ). The convergence of these circumstances has led to calls for a “green recovery,” ( Sen, 2020 ), prioritizing sustainability and conservation alongside economic wellbeing ( Gusheva and de Gooyert, 2021 ; Kothari, 2021 ; Sandbrook et al, 2020 , and Taherzadeh, 2021 ).…”

Section: Covid-19 Forests and A “Green” Recoverymentioning

confidence: 99%

Forest livelihoods and a “green recovery” from the COVID-19 pandemic: Insights and emerging research priorities from India

Dutta

Fischer

Saxena

et al. 2021

Forest Policy and Economics

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Section: Covid-19 Forests and A “Green” Recoverymentioning

confidence: 99%

Forest livelihoods and a “green recovery” from the COVID-19 pandemic: Insights and emerging research priorities from India

Dutta

Fischer

Saxena

et al. 2021

Forest Policy and Economics

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“…(Furceri et al, 2020). The "contribution" of any country's CoVaR is the difference between the CoVaR that depends on the world market of the difficult country and the CoVaR that depends on the world market of the country in a stable state (Taherzadeh, 2021).…”

Section: Introductionmentioning

confidence: 99%

Assessing Financial Risk Spillover and Panic Impact of Covid-19 on European and Vietnam Stock market

Moslehpour

Al-Fadly

Ehsanullah

et al. 2022

Environ Sci Pollut Res

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This study examined the influence of tail risks on global financial markets, which aids in better understanding of the emergence of COVID-19. This study looks at the global and Vietnamese stock markets impacted by the COVID-19 pandemic to identify systemic emergencies. Risk dependent value (CoVaR) and Delta link VaR are two important tail-related risk indicators used in Conditional Bivariate Dynamic Correlation (DCC) (CoVaR). The empirical findings demonstrate that when COVID-19's worldwide spread widens, the volatility transmission of systemic risks across the global stock market and multiple exchanges shifts and becomes more relevant over time. At the time of COVID-19, the world industrial market was larger than the Vietnamese stock market, and the Vietnamese stock market posed a lesser danger to the global market. A closer examination of the link between the Vietnam value-at-risk (VaR) range index sample and the world stock index indicates a significant degree of downside risk integration in key monetary systems, particularly during the COVID-19 era. Our study findings may help regulators, politicians, and portfolio risk managers in Vietnam and worldwide during the unique moment of uncertainty created by the COVID-19 epidemic.

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“…The COVID-19 pandemic renewed the emphasis in the literature on the importance of green growth in terms of a synergic relationship between economic growth and the environment (Guerin and Suntheim 2021 ; Kang and Lee 2021 ; Mol and Sonnenfeld 2000 ; O'Callaghan and Murdock 2021 ). In this context, recent studies (D’Amato 2021 ; D’Amato and Korhonen 2021 ; Korhonen and Granberg 2020 ; Palahì et al 2020 ; Taherzadeh 2021 ) focus on the integration of the green economy, and a circular economy and bioeconomy are recognized as essential to sustainable development policies. Second, there is evidence that greater environmental orientation may decrease the likelihood of negative events both at the firm level (Bouslah et al 2018 ) and at the economic level, because such firms, enjoying established reputations as being environmentally responsible, are able to access financial resources more easily (Branco and Rodrigues 2006 ; Godfrey 2005 ; Zeidan et al 2015 ).…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Access to external credit during COVID-19: evidence from green SMEs in Italy

Arcuri

Pisani

2023

Rev Manag Sci

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This study explores the impact of being “green” as a response to variability in the business environment. We examine the financial resilience of green Small and Medium-sized Enterprises (SMEs) in Italy compared to non-green during the COVID-19 pandemic. We verify whether green SMEs are more able to attract external funding than non-green and whether green SMEs rely more heavily on trade credit than non-green ones. We carry out an analysis with 215,564 observations, of which 6844 refer to “green” firms, over the period 2017–2020 and we find that before and during the pandemic, Italian green SMEs do not attract more external funding than other SMEs, but they rely more on trade credit than non-green SMEs. Our results partially confirm the traditional substitution effect, and we suggest that the reasons for this relationship are also supplied in the literature which sees trade credit as a component of a long-term portfolio management strategy, i.e., as a tool for consolidating relationships with clients, for price discrimination and/or for increasing firm profitability in facing variable demand conditions. Our paper contributes to the literature in two ways. First, it investigates the relationship between the “green” characteristics of a firm and its level of economic and financial resilience during the pandemic. Second, it verifies whether, during a complex economic shock, green orientation increases or decreases the importance of trade credit relative to bank credit in financing the firm.

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Promise of a green economic recovery post-Covid: trojan horse or turning point?

Abstract: Social media summary A green economic recovery from Covid-19 cannot be built in the image of a pre-Covid era. Green growth must be abandoned.

Cited by 19 publications

References 65 publications

Forest livelihoods and a “green recovery” from the COVID-19 pandemic: Insights and emerging research priorities from India

Forest livelihoods and a “green recovery” from the COVID-19 pandemic: Insights and emerging research priorities from India

Assessing Financial Risk Spillover and Panic Impact of Covid-19 on European and Vietnam Stock market

Access to external credit during COVID-19: evidence from green SMEs in Italy

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