Understanding the role of green finance and renewable energy consumption for sustainable development in ACI economies

Baloch, Muhammad Awais; Danish,; Ulucak, Zubeyde Senturk

doi:10.1007/s10584-023-03627-9

Cited by 11 publications

(6 citation statements)

References 51 publications

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“…Regarding issues with differences across groups, dependency in longitudinal data, and sequential correlation, Driscoll and Kraay [92] first presented the Driscoll-Kraay technique. This method works well with balanced and imbalanced datasets and can effectively handle missing values [93]. Additionally, it has shown accuracy and consistency in addressing cross-sectional dependence issues, producing robust standard errors [94].…”

Section: Driscoll-kraay Standard Errormentioning

confidence: 92%

Greening the BRICS: How Green Innovation Mitigates Ecological Footprints in Energy-Hungry Economies

Zhang,

Yasin

2024

Sustainability

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The escalating energy consumption seen in the BRICS countries, namely Brazil, Russia, India, China, and South Africa, presents a substantial environmental problem, resulting in the depletion of resources, amplified carbon emissions, and endangering the well-being of ecological systems. The study examines the potential of green innovation to alleviate these adverse effects. By combining green technology with strong institutions and responsible energy consumption, we argue that the BRICS nations can significantly reduce their ecological footprint. This research, encompassing data from 1995 to 2022, employs Driscoll–Kraay and panel quantile regression to analyze the complex interplay of institutional quality, energy consumption, green innovation, and ecological footprints across the BRICS countries. Our findings reveal that green innovation is crucial in mitigating the ecological footprint, particularly when combined with resilient institutional quality and controlled energy use. Conversely, factors like high energy consumption, natural resource rent, and urbanization contribute to an increased ecological footprint. Notably, the study emphasizes the critical role of both institutional quality and renewable energy consumption in effectively reducing the ecological burden within the BRICS nations. These findings suggest that prioritizing investments in green technology and institutional development, even amidst high energy demands, represents a viable strategy for the BRICS nations to achieve sustainable growth and environmental responsibility.

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Section: Driscoll-kraay Standard Errormentioning

confidence: 92%

Greening the BRICS: How Green Innovation Mitigates Ecological Footprints in Energy-Hungry Economies

Zhang,

Yasin

2024

Sustainability

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“…The enlargement of the financial sector can facilitate businesses in more efficiently accessing green financial resources at reduced expenses, thereby fostering green business outcomes and aiding companies in expanding their current green business scope while diminishing their dependence on conventional energy sources [37]. Financial structure promotes the advancement of eco-friendly technology innovation, while financial magnitude and effectiveness exert an adverse impact on the innovation of green technologies [38].…”

Section: Related Research On the Impact Of Financial Development On G...mentioning

confidence: 99%

How Do Financial Development and Industrial Structure Affect Green Total Factor Energy Efficiency: Evidence from China

Xu,

Wang

2024

Energies

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Improving energy efficiency is vital for addressing climate change and reducing carbon emissions in emerging economies. Financial development (FD) is crucial for economic growth, and its environmental impact and the adjustment of the industrial structure (IND) is a crucial lever in China’s economic transition period. This study explored the relationship between FD, IND, and China’s green total factor productivity (GTFEE) from 2000 to 2020 using the super-efficiency SBM-undesirable model, which estimates China’s GTFEE. The ARDL results suggest that FD and IND enhance GTFEE in the long term, with FD promoting GTFEE by facilitating industrial structure adjustments. The Dumitrescu–Hurlin panel causality tests supported this finding. The QRPD panel quantile regression and heterogeneity analysis revealed significant heterogeneity in the effects. With increasing GTFEE, FD exerts a restraining effect, gradually weakening and transitioning into a promoting effect, while the IND consistently plays a promoting role.

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“…The preceding steps encourage the use of the standard error approach for long-run coefficient analysis proposed by Driscoll and Kraay (DK) [46]. Since it produces a robust estimate using the average values in the hetro-autocorrelation, it is a more suitable method in the case of cross-sectional dependency [47]. The DK method also has several other benefits.…”

Section: Driscoll and Kraay For Long Effectsmentioning

confidence: 99%

The Repercussions of Economic Growth, Industrialization, Foreign Direct Investment, and Technology on Municipal Solid Waste: Evidence from OECD Economies

et al. 2023

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The paper’s main objective is to evaluate the repercussions of economic growth, industrialization, and foreign direct investment (FDI) on OECD (Organization for Economic Cooperation and Development) municipal solid waste (MSW) from 2000–2020. Further study includes the role of technology in managing waste activities’ repercussions. We also explore the mediation impact of technology and industrialization with economic growth on the waste of OECD economies. The empirical assessment is carried out in two ways. First, we use graphs to assess the evolution over the years and their association with the core factors. Second, we apply a proper econometrics series to examine the empirical nexuses between the relevant factors. The study finds that economic growth and industrialization evolve over time, increasing the waste of OECD economies. FDI inflow is unfavorable and increases waste production. However, the magnitude impact of FDI is lower than that of economic growth and industrialization. Technological advancement (research and development) is a significant factor in reducing waste generation. The later phase of economic growth is still not advantageous to reduce waste generation in the OECD. The OECD needs to manage industrialization and economic activities through a proper mechanism and tax on such activities that can increase unwanted waste. Further, through technology, the management of waste can be improved.

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Understanding the role of green finance and renewable energy consumption for sustainable development in ACI economies

Cited by 11 publications

References 51 publications

Greening the BRICS: How Green Innovation Mitigates Ecological Footprints in Energy-Hungry Economies

Greening the BRICS: How Green Innovation Mitigates Ecological Footprints in Energy-Hungry Economies

How Do Financial Development and Industrial Structure Affect Green Total Factor Energy Efficiency: Evidence from China

The Repercussions of Economic Growth, Industrialization, Foreign Direct Investment, and Technology on Municipal Solid Waste: Evidence from OECD Economies

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