Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2103840
The dynamic role of ecological innovation and sustainable finance in improving green productivity: evidence from China
Xiuyi Wang
Le Sun
Hafiz Kashif Razzaq
Zulkiflee Abdul-Samad
Phan The Cong
Sažetak
This study investigates the influence of ecological innovations and
sustainable financing in promoting the Chinese economy’s green
total factor productivity (GTFP) from Q1-2004 to Q4-2018. Initially,
this study measures GTFP using Data Envelopment Analysis and
applies Bootstrap Auto-regressive Distributed Lagged (BARDL)
model for dynamic effects. The preliminary results confirm the existence
of unit root and a long-term cointegrating relationship among
the model variables. The long-run results demonstrate that ecological
innovations and sustainable financing have promoted GTFP
in China. Moreover, government intervention is imperative to support
green productivity growth at the macro level. However, there is
a need to control the adverse effect of unemployment in impeding
GTFP. Notably, the long-run results reflect the more substantial
impact of the stated variables compared to the short run with the
convergence towards long-run equilibrium. The policymakers are
suggested to prioritise the development of the financial market and
technological innovations.
Ključne riječi
Ecological innovation; environmental technologies; green financing projects; China
Hrčak ID:
306443
URI
Datum izdavanja:
31.3.2023.
Posjeta: 209 *