Artificial intelligence, clean energy, and market integration: Evidence from multi-period quantile dynamics

BALCI N., DOĞAN M.

Journal of Environmental Management, cilt.397, 2026 (SCI-Expanded, Scopus) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 397
  • Basım Tarihi: 2026
  • Doi Numarası: 10.1016/j.jenvman.2025.128301
  • Dergi Adı: Journal of Environmental Management
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, BIOSIS, Compendex, EMBASE, Environment Index, Geobase, Greenfile, Index Islamicus, Public Affairs Index, Social Sciences Abstracts
  • Anahtar Kelimeler: AI index, Artificial intelligence, Clean energy, Energy market
  • Bilecik Şeyh Edebali Üniversitesi Adresli: Evet

Özet

The aim of this study is to investigate the dynamic and asymmetric relationships between the Indxx Artificial Intelligence and Big Data Index (IAIQ) and clean energy market indices, namely the NASDAQ Clean Edge Green Energy Index (CELS), WilderHill Clean Energy Index (ECOTR), S&P Kensho Clean Energy Index (KCEI), MSCI ACWI IMI Clean Energy Infrastructure Index (MSCIACWI), and the S&P Global Clean Energy Transition Index (SPGTCLTR). The study uses data covering the period from July 31, 2015, to May 27, 2025. In the analysis, the Rolling Windows Quantile Augmented Dickey-Fuller Unit Root Test is utilized to determine the stationarity of time series, the Wavelet Quantile-on-Quantile Regression method is applied to capture nonlinear relationships between the series, and the Wavelet Quantile-on-Quantile Granger Causality Regression method is used to identify causal interactions. The findings reveal that the effects of artificial intelligence technologies on clean energy markets are positive, strong, and significant, but these effects vary depending on time horizons, quantile distributions, and market conditions. These results deepen theoretical debates in the literature while also offering practical and strategic implications for investors, policymakers, and the private sector.