Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:07:37pm CEST (Norway)
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Daily Overview |
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Macroeconomic perspectives on the green transition Location: Auditorium N: Agnar Sandmo Session Chair: Shengyu Li, Tilburg University | |
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Does Financial Development Favor Clean Technology Adoption Along Green Transition? Tilburg University, Netherlands, The This paper employs a general equilibrium model of firm dynamics to investigate how financial development influences firms’ adoption of clean technologies through two opposing mechanisms. In partial equilibrium, financial development directly facilitates adoption by easing collateral constraints. In general equilibrium, however, financial development tends to impede green transition by crowding out clean investment in technology adoption by financially unconstrained firms. The higher demand for production inputs (i.e., capital and labor) along with financial development raises their prices, reducing unconstrained firms’ profits and slowing their accumulation of internal funds for technology adoption. A numerical exploration of the model indicates that as financial markets become highly developed, the adverse general equilibrium effect outweighs the direct benefits, ultimately hindering green transitions. Furthermore, reducing the upfront costs of clean technologies is shown to alleviate the adverse impacts of financial development on green transition. | |