Does green finance investment and technological innovation improve renewable energy efficiency and sustainable development goals
Zhang L. Berk Saydaliev H. Ma X.
June 2022Elsevier Ltd
Renewable Energy
2022#193991 - 1000 pp.
Sustainable goals are achieved by utilizing private firms investment in renewable energy sources. Globally, the demand for alternative sources of Renewable Energy (RE) and green finance (GF) has prompted an increase in research on these topics. This research applies a novel technique panel cointegration and causality model to evaluate the causes of green finance development in China between 1990 and 2020. This study adds information on the relationship between green finance and financial inclusion in the form of private firms investments. The findings show that green finance and financial inclusion (FI) are beneficial to development globally and more granular. For every 1% growth in RE sources, there will be a 0.522% rise in trademark filings and a 0.1243% rise in private sector investment filings. The trademark and patent are promoted by 0.062% when financial inclusion is improved by 0.031%. Investment, commerce, and human progress have a calming effect on the connection discussed above. A variety of robustness tests supports our model results. This studys policy recommendations include decentralizing the energy industry to allow for more private sector participation; financial incentives for enterprises to use RE. It is clear from these findings that our study contributes significantly to the field of empirical research and also gives crucial policy recommendations.
China , Financial inclusion , Green finance , Panel cointegration and causality , Renewable energy , Sustainability goals
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Business School, Nanjing Xiao Zhuang University, Jiangsu, Nanjing, 211171, China
Business School, Suleyman Demirel University, Kaskelen, Almaty, 040900, Kazakhstan
Mathematical Methods in Economics, Tashkent State University of Economics, Tashkent, 100003, Uzbekistan
School of Finance and Trade, Wenzhou Business College, Wenzhou, 325035, China
Business School
Business School
Mathematical Methods in Economics
School of Finance and Trade
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