Transition to a green economy, oil prices and the current account
研究了向绿色经济转型如何影响经常账户的消费平滑部分，发现当可再生能源消费占比超过23.561%时，石油价格对经常账户的负面影响会减弱，且对经常账户赤字国家更有利。
In this paper we propose and develop the hypothesis that a transition to a green economy influences the consumption-smoothing component of the current account. This is important because green economy has the potential to improve current accounts. Using a sample of 23 countries, we discover that when renewable energy consumption as a share of total final energy consumption is below the threshold value of 23.561 %, there is a negative impact of oil prices on the current account. However, the negative impact diminishes when renewable consumption exceeds this threshold. Interestingly, splitting the sample into current account surplus and deficit countries reveals that a transition to a greener economy mitigates the negative impacts of an oil price rise more so for deficit countries than surplus countries.