Original scientific paper
https://doi.org/10.1080/1331677X.2023.2199416
Dynamic association of green financial innovation, eco-financing, carbon tax, economic openness, and sustainable energy transition in Vietnam: fresh evidence using DARDL approach
Vu Trong Lam
Thi Thu Hien Phan
Nguyen Hong Mai
Pham Quang Huy
Thanh Quang Ngo
Abstract
Sustainable energy (SE) transition and environmental quality have
become a predominant part of integral policy worldwide. Besides,
economic development policies at global level are being reformulated
to make sure that energy supplies are reliable and have the
tendency to protect environment. Although, economies are participating
in activities which can help to fulfill overarching goals but
developing economies specifically face challenges due to high
dependency on coal consumption. The article, thereby, intends to
explore the role of green financial innovation, eco-financing, carbon
taxes, and economic openness on the SE transition in
Vietnam. The study also checks the role of inflation and industrialization
on the SE transition as control variables. The article also
used Dynamic Auto-regressive Distributed Lags (DARDL) to test
the connection among the variables. The outcome indicated that
green financial innovation, eco-financing, carbon taxes, economic
openness, inflation, and industrialization have a positive and significant
linkage with the SE transition in Vietnam. These outcomes
provide guidelines to policymakers in establishing new policies
regarding SE transition.
Keywords
Green financial innovation; eco-financing; carbon taxes; economic openness; inflation; industrialization; sustainable energy transition
Hrčak ID:
319250
URI
Publication date:
21.8.2023.
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