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Greening Thy Neighbor: How the United States Inflation Reduction Act Drives Climate Finance Globally

카테고리
국외자료
단체저자
ADB
발행기관
ADB
발행년월
2024.11
페이지수
62p
URL
요약
Industrial policies greening the economy aim to accelerate the transition to net zero. Using granular data on global investment funds, this paper identifies a novel international spillover channel of industrial policies. Sustainable global investment funds received more inflows after the Inflation Reduction Act was announced and increased their cross-border portfolio investments worldwide. Recipient economies better prepared to address climate change benefited most from sustainable global funds’ additional investments.