With the growing pressure from the adverse impact of environmental pollution and climate change, the deployment of renewable sources is becoming one of the economic priorities for governments worldwide. Despite potential gains of renewable sources, little evidence is provided in the literature about the determinants of renewable energy deployment in the MENA region. In particular, whether political stability, governance quality and financial development matter or not for unleashing the potentials of renewable energy programs. To this end, this paper aims to fill the gap by examining the impact of political stability, quality of governance and institutions, and financial development on the deployment of renewable energy production in 9 selected MENA countries using annual data over the period 1984-2014. Accordingly, an innovative panel quantile regression model with non-additive fixed effect has been developed to tackle this issue. Our findings confirm that the effect of political stability is clearly heterogeneous and supports earlier claims about the importance of political stability to foster investments in the renewable energy sector. Findings also show that financial development has a positive impact on renewable energy production. In addition, we also find that the interaction term between governance effectiveness and financial development is negative for the lower quantiles but positive for the highest quantiles. These findings support our hypotheses and suggest that political stability, governance effectiveness, and financial development are essential drivers for promoting renewable energy production in the MENA region.

随着来自环境污染和气候变化不利影响的压力越来越大，可再生能源的部署正成为全球各国政府的经济优先事项之一。尽管可再生资源有潜在的收益，但文献中很少提供有关中东和北非地区可再生能源部署决定因素的证据。尤其是，政治稳定，治理质量和金融发展是否对释放可再生能源计划的潜力至关重要。为此，本文旨在通过使用1984-2014年期间的年度数据，研究政治稳定，治理和机构质量以及金融发展对9个选定的中东和北非国家部署可再生能源生产的影响，以弥补这一空白。因此，为了解决这个问题，开发了一种具有非累加固定效应的创新面板分位数回归模型。我们的发现证实，政治稳定的影响显然是多种多样的，并支持了先前关于政治稳定对促进可再生能源领域投资的重要性的主张。研究结果还表明，金融发展对可再生能源生产具有积极影响。此外，我们还发现治理有效性与财务发展之间的相互作用项对于较低的分位数为负，而对于最高的分位数则为正。这些发现支持了我们的假设，并表明政治稳定，治理有效性和金融发展是促进中东和北非地区可再生能源生产的重要驱动力。