Template-Type: ReDIF-Article 1.0
Author-Name: Houda EL BOUCHAIKHYA
Author-Email: houda.elbouchaikhy@uit.ac.ma
Author-Workplace-Name: Faculty of Economics and Management, Ibn Tofail University of Kenitra, Morocco
Author-Name: Driss DAOUI
Author-Email: driss.daoui@uit.ac.ma
Author-Workplace-Name: Faculty of Economics and Management, Ibn Tofail University of Kenitra, Morocco
Title: Green finance, institutional trust and energy-transition governance in Morocco
Abstract: This article examines the institutional conditions under which green finance can effectively support Morocco’s energy transition. Existing research documents financial instruments and renewable-energy projects, but rarely connects institutional trust, instrument credibility and multilevel governance within one African stakeholder-based empirical framework. It asks: under what institutional conditions is green finance perceived as effective by Moroccan energy-transition stakeholders? The study uses questionnaire data from 200 entrepreneurs, bankers, financial experts, environmental experts and public decision-makers. Descriptive analysis, reliability testing and structural equation modelling show that perceived credibility and transparency are positively associated with perceived effectiveness (β = 0.797), perceived benefits (β = 0.740) and lower perceived barriers (β = 0.747), with p < 0.001 and α = 0.93. International cooperation appears operationally useful, but the strategic-appropriation dimension has negative reliability (α = -0.35), while the second model has inadequate fit (RMSEA = 0.156; SRMR = 0.144). No definitive structural inference is therefore drawn from that component. The article concludes that green finance operates as a governance arrangement whose developmental effectiveness depends on traceability, credible disclosure, domestic coordination and institutional learning. Classification JEL: Q56; G18; Q42; O13. Paper type: Empirical Research.
Keywords: Morocco; green finance; energy transition; institutional trust; credibility; multilevel governance; structural equation modelling; Africa
Journal: International Journal of Accounting, Finance, Auditing, Management and Economics
Pages: 738-751
Volume: 7
Issue: 11
Year: 2026
File-URL: https://ijafame.org/index.php/ijafame/article/view/2659
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File-URL: https://ijafame.org/index.php/ijafame/article/view/2659/2735
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Handle: RePEc:aoa:journl:v:7:y:2026:i:11:p:738-751