Original scientific paper
https://doi.org/10.1080/1331677X.2022.2140302
Green investment and its influence on green growth in high polluted Asian economies: Do financial markets and institutions matter?
Yunqian Mo
Sana Ullah
Ilhan Ozturk
Abstract
The notion of green growth has occurred as a leading policy
response to environmental pollution. This study explores the
dynamic impacts of green investment, financial institutions & markets
on green growth based on a time series data set comprised of
four high polluted Asian countries from 1995 to 2019. We found several
important short and long-run results from the ARDL bounds
testing approach. First, green investment has a positive long-run
effect on green growth in China, India, and Russia. Second, financial
institutions have positive long-run effects on green growth in China,
India, and Japan; but financial markets improve only in China and
Russia. The findings also propose that internet users and R&D foster
green growth in mostly high polluted Asian countries. Thus, our
findings offer some implications for high polluted Asian countries to
stimulate green growth in the future.
Keywords
Green investment; financial markets; financial institutions; green growth
Hrčak ID:
306709
URI
Publication date:
30.4.2023.
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