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August 16, 2025

Comment on “The Effects of Financing Green and Brown Sectors: What Do Theories and Empirical Evidence Say?”

Key Points

Financing impacts both green and brown sectors, influencing environmental outcomes and economic performance.
Evidence suggests significant relations between financial strategies and sectoral sustainability within economic models.
Analysis focuses on theoretical and empirical implications regarding green finance and traditional sectors.
Highlights the need for comprehensive approaches to improve financing strategies in both green and brown sectors.

Abstract

Asian Economic Policy ReviewEarly View COMMENTARY Comment on "The Effects of Financing Green and Brown Sectors: What Do Theories and Empirical Evidence Say?" Olivier-David Zerbib, Corresponding Author Olivier-David Zerbib email protected CREST, ENSAE Paris, Institut Polytechnique de Paris, Palaiseau, France Correspondence: Olivier-David Zerbib (email protected)Search for more papers by this author Olivier-David Zerbib, Corresponding Author Olivier-David Zerbib email protected CREST, ENSAE Paris, Institut Polytechnique de Paris, Palaiseau, France Correspondence: Olivier-David Zerbib (email protected)Search for more papers by this author First published: 13 August 2025 https://doi.org/10.1111/aepr.70002Read the full textAboutPDF ToolsExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookxLinkedInRedditWechatBluesky No abstract is available for this article. References Acemoglu, D., P. Aghion, L. Bursztyn, and D. Hemous. 2012. "The Environment and Directed Technical Change." American Economic Review 102, no. 1: 131–166. 10.1257/aer.102.1.131 PubMed Web of Science® Google Scholar Acemoglu, D., U. Akcigit, D. Hanley, and W. Kerr. 2016. "Transition to Clean Technology." Journal of Political Economy 124, no. 1: 52–104. 10.1086/684511 Web of Science® Google Scholar Aghion, P., A. Dechezleprêtre, D. Hemous, R. Martin, and J. van Reenen. 2016. "Carbon Taxes, Path Dependency, and Directed Technical Change." Journal of Political Economy 124, no. 1: 1–51. 10.1086/684581 Web of Science® Google Scholar Azevedo, D., H. Wolff, and A. Yamazaki. 2023. "Do Carbon Taxes Kill Jobs? Firm-Level Evidence From British Columbia." Climate Change Economics 14, no. 2: 2350010. 10.1142/S2010007823500100 Google Scholar Benmir, G., and A. Roman. 2021. "Endogenous Abatement Technology." Working Paper. Google Scholar Bernard, A. B., M. Kichian, and F. Islam. 2018. "Effects of B.C.'s Carbon Tax on GDP." USAEE Research Paper Series no. 18–329. United States Association for Energy Economics (USAEE). Google Scholar Bretschger, L., R. Ramer, and F. Schwark. 2011. "Growth Effects of Carbon Policies: Applying a Fully Dynamic CGE Model With Heterogeneous Capital." Resource and Energy Economics 33: 963–980. 10.1016/j.reseneeco.2011.06.004 Web of Science® Google Scholar Dussaux, F. 2020. "The Joint Effects of Energy Prices and Carbon Prices on Environmental and Economic Performance: Evidence From the French Manufacturing Sector." OECD Environment Working Paper No. 154. Organisation for Economic Co-operation and Development (OECD). Google Scholar Fried, S. 2018. "Climate Policy and Innovation: A Quantitative Macroeconomic Analysis." American Economic Journal: Macroeconomics 10, no. 1: 90–118. 10.1257/mac.20150289 Web of Science® Google Scholar Hart, O. 2019. "To Everything There Is a Season: Carbon Pricing, Research Subsidies, and the Transition to Fossil-Free Energy." Journal of the Association of Environmental and Resource Economists 6, no. 2: 349–389. 10.1086/701805 Web of Science® Google Scholar Hassler, J., P. Krusell, and C. Olovsson. 2021. "Directed Technical Change as a Response to Natural-Resource Scarcity." Journal of Political Economy 129, no. 11: 3039–3072. 10.1086/715849 Web of Science® Google Scholar Liang, H., and M. T. Punzi. 2026. "The Effects of Financing Green and Brown Sectors: What Do Theories and Empirical Evidence Say?" Asian Economic Policy Review 21, no. 1. Google Scholar Martin, R., L. B. De Preux, and U. J. Wagner. 2014. "The Impact of a Carbon Tax on Manufacturing: Evidence From Microdata." Journal of Public Economics 117, no. C: 1–14. 10.1016/j.jpubeco.2014.04.016 Google Scholar Metcalf, G. E., and J. H. Stock. 2020. "Measuring the Macroeconomic Impact of Carbon Taxes." American Economic Review: Papers and Proceedings 110: 101–106. 10.1257/pandp.20201081 Google Scholar Yamazaki, A. 2017. "Jobs and Climate Policy: Evidence From British Columbia's Revenue Neutral Carbon Tax." Journal of Environmental Economics and Management 83: 197–216. 10.1016/j.jeem.2017.03.003 Web of Science® Google Scholar Early ViewOnline Version of Record before inclusion in an issue ReferencesRelatedInformation

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