ECIN Replication Package for "Do Markets Trump Politics? Fossil and Renewable Market Reactions to Major Political Events"

Principal Investigator(s):  View help for Principal Investigator(s) Samson Mukanjari, International Institute for Industrial Environmental Economics, Lund University; Thomas Sterner, Department of Economics, University of Gothenburg

Version:  View help for Version V1

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  Replication_Files 07/13/2023 11:53:AM
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Project Citation: 

Mukanjari, Samson, and Sterner, Thomas . ECIN Replication Package for “Do Markets Trump Politics? Fossil and Renewable Market Reactions to Major Political Events.” Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2023-07-13. https://doi.org/10.3886/E192722V1

Project Description

Summary:  View help for Summary This paper investigate the effects of three events with major importance for climate policy on energy sector stocks: the Paris Agreement, the Trump election and presidency, and the Biden election. By combining event studies with impulse-indicator saturation methods, we show that the Paris Agreement and the election of Mr. Biden benefited renewable industries, while the election of Mr. Trump had negative effects. For fossil fuel industries, the effects were largely the opposite. For the US coal industry, though Trump did his best to eliminate environmental regulations, the natural gas and oil industries benefited more than coal. Coal production and consumption in the United States actually decreased during Trump’s presidency, while natural gas and oil consumption increased.
Funding Sources:  View help for Funding Sources Swedish International Development Cooperation Agency (Sida) ; Länsförsäkringars Forskningsfond; Mistra Carbon Exit programme

Scope of Project

JEL Classification:  View help for JEL Classification
      G14 Information and Market Efficiency; Event Studies; Insider Trading
      Q40 Energy: General
      Q54 Climate; Natural Disasters and Their Management; Global Warming
Manuscript Number:  View help for Manuscript Number ECIN-Apr-2022-0178
Time Period(s):  View help for Time Period(s) 1/1/2013 – 1/31/2021
Data Type(s):  View help for Data Type(s) event/transaction data


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Published Versions

V3 [2023-10-29]

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