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He Y. External financial and monetary policy shocks: Do they matter for Korean macroeconomy? Heliyon 2024; 10:e30143. [PMID: 38707388 PMCID: PMC11066408 DOI: 10.1016/j.heliyon.2024.e30143] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 02/16/2023] [Revised: 04/03/2024] [Accepted: 04/20/2024] [Indexed: 05/07/2024] Open
Abstract
Given Korea's status as a small, open economy, it exhibits a pronounced sensitivity to external shocks. Consequently, this article seeks to elucidate the impact of external financial and monetary policy shocks on the fluctuation of critical macroeconomic variables within Korea. Employing Bayesian estimation alongside the impulse response function for empirical analysis, the findings reveal that external financial and monetary policy shocks precipitate declines in exports, output, employment, real wages, consumption, investment, and imports. Conversely, these shocks are associated with increases in both the price level and inflation, highlighting the multifaceted effects of external pressures on the domestic economic landscape. Further, through forecast error variance decomposition, this study demonstrates that, relative to shocks stemming from productivity, terms of trade, and real exchange rate variations, external financial and monetary policy shocks exert a considerably milder impact on the fluctuations of Korea's key macroeconomic variables. This insight suggests a potential area for enhancement in the existing Korean literature on this topic, advocating for the integration of these findings to enrich understanding and analysis. In summary, by delving into the nuanced effects of external shocks on Korea's economy, this article contributes valuable perspectives to the discourse, suggesting avenues for further research and policy formulation. The integration of these results into the broader body of Korean economic literature could significantly augment current understandings and interpretations of Korea's economic dynamics in the face of global financial and monetary turbulence.
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Affiliation(s)
- Yugang He
- Department of Chinese Trade and Commerce, Sejong University, Seoul, 05006, Republic of Korea
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2
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Chang J, Li B, Chen B, Shen Y, Lv X, Liu J. Does higher education promote sustainable development? Role of green technology and financial performance. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:94890-94903. [PMID: 37542699 DOI: 10.1007/s11356-023-28927-6] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 05/08/2023] [Accepted: 07/18/2023] [Indexed: 08/07/2023]
Abstract
How do digitalizing businesses help them achieve sustainable growth? This research examines the mediating function of green technology innovation in answering this question by defining sustainable development performance in terms of corporations' financial and environmental success. The educational system in China is examined to see how much of an impact it has on eco-innovation, as well as the relationship between green technology and innovation. The IFE test was utilized to determine whether or not the associations between variables such as GDP per capita, urbanization, green technology, higher education, and carbon dioxide emissions will continue to exist between 2004 and 2020 in China. The data for this analysis came from 30 of China's provinces. The findings of both the short-term and long-term CS-ARDL estimations demonstrated a positive link between eco-innovation and GDP per capita, green technology, higher education, and CO2 emissions. On the other hand, a negative correlation was found between urbanization and eco-innovation. The next topic covered in the research was how the effects of green technology might be seen in areas such as GDP per capita, higher education, and carbon dioxide emissions. The findings might provide valuable knowledge that developing economies can use to construct a feasible, sustainable path.
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Affiliation(s)
- Jilin Chang
- School of Foreign Languages, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Biao Li
- School of Foreign Languages, Tianjin University of Technology and Education, Tianjin, 300222, China.
| | - Bo Chen
- School of Foreign Languages, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Yifei Shen
- School of Foreign Languages, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Xinying Lv
- School of Foreign Languages, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Jing Liu
- School of Art, Tianjin University of Technology and Education, Tianjin, 300222, China
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3
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Hua L. Financial stability influence on climate risk, GHG emission, and green economic recovery of China. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:67839-67853. [PMID: 37119485 PMCID: PMC10148011 DOI: 10.1007/s11356-023-26947-w] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Figures] [Subscribe] [Scholar Register] [Received: 03/06/2023] [Accepted: 04/06/2023] [Indexed: 05/03/2023]
Abstract
This study examines the nexus between financial stability, climate risks, GHG emission mitigation, and green economic recovery of China. Financing efforts to protect against and reduce the hazards associated with climate change need to consider these risks and resources. Study used the Kalman technique of analysis for empirical inference. This research focuses on the carbon risk in China by employing a Kalman estimation approach. Although environmental mitigation was found to be important at 39%, financial strength and carbon hazards were considerable at 34%. Moreover, the report demonstrates the relationship between climatic threats and environmental drift in China, at a rate of 17%, emphasizing the need to address climate change issues. A state's fiscal health guarantees national economic security while pursuing green economic recovery initiatives. Researchers concluded that precise policy suggestions were needed to promote green economic development.
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Affiliation(s)
- Long Hua
- School of Economics, Yunnan University of Finance and Economics, Kunming, 650221, China.
- School of Business, Yuxi Normal University, Yuxi, 653100, China.
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4
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Zhu K, Ma R, Du L. Does digital inclusive finance affect the urban green economic efficiency? New evidence from the spatial econometric analysis of 284 cities in China. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:63435-63452. [PMID: 37041360 DOI: 10.1007/s11356-023-26619-9] [Citation(s) in RCA: 2] [Impact Index Per Article: 2.0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 02/28/2023] [Accepted: 03/20/2023] [Indexed: 04/16/2023]
Abstract
Digital inclusive finance has an essential impact on improving the urban green economy efficiency by demonstrating environmental friendliness in agglomerating factors and promoting the flow of factors. Based on the panel data of 284 cities in China from 2011 to 2020, this paper uses the super-efficiency SBM model with undesirable outputs to measure the urban green economy efficiency. Then, the fixed effect model and spatial econometric model of panel data are used to empirically test the impact of digital inclusive finance on urban green economic efficiency and its spatial spillover effect, and the heterogeneity analysis is carried out. This paper draws the following conclusions. (1) The average value of urban green economic efficiency of 284 Chinese cities from 2011 to 2020 is 0.5916, showing a "high in the east and low in the west." In terms of time, it showed a rising trend year by year. (2) Digital financial inclusion and urban green economy efficiency have a high spatial correlation, both showing "high-high" and "low-low" agglomeration characteristics. (3) Digital inclusive finance significantly impacts urban green economic efficiency, especially in the eastern region. (4) The impact of digital inclusive finance on urban green economic efficiency has a spatial spillover effect. In the eastern and central regions, digital inclusive finance will inhibit the improvement of urban green economic efficiency in adjacent cities. In contrast, it will promote urban green economy efficiency in the western regions in adjacent cities. (5) The coverage and depth of digital inclusive finance significantly affect the urban green economy efficiency, while the level of digitization has yet to show a significant effect. This paper puts forward some suggestions and references for promoting the coordinated development of digital inclusive finance in various regions and improving urban green economic efficiency.
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Affiliation(s)
- Kunyan Zhu
- The Institute for Sustainable Development, Macau University of Science and Technology, Macao, 999078, China
| | - Rufei Ma
- School of Business, Macau University of Science and Technology, Macao, 999078, China.
| | - Lei Du
- School of Economics and Management, Beijing Forestry University, Beijing, 100083, China
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5
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Li B, Chang J, Guo J, Zhou C, Ren X, Liu J. Do green innovation, I.C.T., and economic complexity matter for sustainable development of B.R.I. economies: moderating role of higher education. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:57833-57849. [PMID: 36971933 DOI: 10.1007/s11356-023-26405-7] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 12/21/2022] [Accepted: 03/07/2023] [Indexed: 05/10/2023]
Abstract
The research intends to enlarge the environmental economics literature by displaying the probable mechanisms between green innovation, higher education, and sustainable development. In the context of a new era, sustainability faces challenging obstacles. Many studies have looked at fundamental factors affecting CO2 emissions, while the impact of green innovation and higher education is essential but mostly ignored. This study looked at 60 Belt and Road Initiative (B.R.I.) economies to see how factors, including green innovation, economic complexity index, I.C.T., and higher education, affect carbon emissions in the presence of sustainable development using annual data from 2000-2020. In order to calculate the persistence of the connection between the factors, this research uses the CS-ARDL. The results' robustness and reliability were examined using PMG estimation. The results indicate that the economic complexity index and urbanization positively impact carbon emission (CO2). Higher education (E.D.U.) has a significant positive impact in the short run and a negative effect in the long run-on carbon emissions. Similarly, information and communication technology (I.C.T.) and green innovation have a negative impact on carbon emission (CO2). Moreover, the results indicate that the moderate effect of green innovation with economic complexity index, information and communication technology, and higher education has a negative impact on carbon emission. The estimated coefficients also provide significant policy implications for the chosen and the other developing markets in designing an adequate route ahead to a sustainable environment.
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Affiliation(s)
- Biao Li
- School of Foreign Languages, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Jilin Chang
- School of Foreign Languages, Tianjin University of Technology and Education, Tianjin, 300222, China.
| | - Jianxun Guo
- Human Resources Department, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Chen Zhou
- Educational Management Department, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Xiaofei Ren
- Educational Management Department, Tianjin University of Technology and Education, Tianjin, 300222, China
| | - Jing Liu
- School of Art, Tianjin University of Technology and Education, Tianjin, 300222, China
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6
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Wang C. China's energy policy and sustainable energy transition for sustainable development: green investment in renewable technological paradigm. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:51491-51503. [PMID: 36809623 DOI: 10.1007/s11356-023-25734-x] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 09/14/2022] [Accepted: 02/01/2023] [Indexed: 06/18/2023]
Abstract
It is generally accepted that China is a significant cause of global warming and other climate change consequences. This paper applies panel cointegration tests and autoregressive distributed lag (ARDL) techniques to investigate the interactions among energy policy, technological innovation, economic development, trade openness, and sustainable development using panel data from China from 1990 to 2020. Results explain that renewable energy policy and technology innovation are negatively associated with sustainable development. However, research shows that energy use significantly increases both short-term and long-term environmental damage. The findings show that economic growth has a lasting impact on the environment by distorting it. The findings recommend that politicians and government officials hold the key to attaining a green and clean environment by focusing on developing the proper energy policy mix, urban planning, and pollution prevention without compromising economic growth.
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Affiliation(s)
- Chenrong Wang
- School of Business, Zhengzhou University of Economics and Business, Zhengzhou, 451191, China.
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7
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Jia Z, Yang X. Assessment of the role of renewable energy financing and information and communication technology in carbon neutrality: evidence from RCEP economies. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:33636-33649. [PMID: 36484937 DOI: 10.1007/s11356-022-24354-1] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/25/2022] [Accepted: 11/17/2022] [Indexed: 06/17/2023]
Abstract
Understanding the correlation between the various forms of financing and their propensity to invest in renewable energy (RE) innovation is crucial for its successful financing. We investigate the "path" taken by innovators in the financial sector. The UN Secretary-General announced the Sustainable Energy for All Initiative in 2012 to ensure that all people can access reliable, modern energy services by 2030. Substantial monetary and technological investments at a rate much surpassing historical levels are required to accomplish this goal. This research is aimed at determining if the combination of REF and ICT may help improve environmental quality. Using econometric methods, we examine time series data from RCEP economies from 2000 to 2019. This study describes another determinant of carbon emission: economic growth, tourism, and trade openness. The study employs Cup-FM and Cup-BC tests to check the results of variables in this study. The effect of economic growth, tourism, and trade significantly positively impacts carbon emissions in this model. However, renewable energy finance and ICT adversely impact the carbon emission level. Moreover, the moderate effect of renewable energy finance on information and communication technology, tourism, and trade is found to have a negative impact on carbon emissions. The policy recommendations suggest how a country can minimize carbon emissions.
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Affiliation(s)
- Zhen Jia
- Department of Architectural Engineering, Hebei Vocational University of Industry and Technology, Shijiazhuang, 050091, Hebei, China
| | - Xiaohui Yang
- School of Management, Shijiazhuang Tiedao University, Shijiazhuang, 050043, Hebei, China.
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8
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Wang B. Low-carbon transformation planning of China's power energy system under the goal of carbon neutrality. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:44367-44377. [PMID: 36692724 DOI: 10.1007/s11356-023-25279-z] [Citation(s) in RCA: 2] [Impact Index Per Article: 2.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 11/07/2022] [Accepted: 01/08/2023] [Indexed: 01/25/2023]
Abstract
China has become the largest energy producer and consumer in the world. Its carbon emissions account for 80% of its total carbon emissions, while the carbon emissions caused by energy consumption in the power industry account for more than 50%. To ensure that the 2030 carbon-peak and 2060 carbon-neutral targets are achieved, it is imperative to carry out low-carbon energy transformation in the power industry. The paper compares and analyzes the technical level of six high-energy-consuming industries: power, steel, cement, aluminum smelting, petrochemical industry, and coal chemical industry in terms of low carbon. The results show that the structural adjustment of China's high-energy-consuming industries has reached the upper limit, and the low-carbon transformation of power and energy has become inevitable. The carbon emissions of China's six regional power grids are statistically analyzed. The background of the power generation proportion of China's thermal power, hydropower, nuclear power, wind power, solar power and other different energy systems from 2018 to 2020 is analyzed, and the development trend is predicted. The low-carbon emission path of power energy is proposed. Based on the EnergyPLAN model, the power energy structure of carbon peaking in different scenarios from 2020 to 2030 is constructed, and the power energy system's carbon dioxide emission reduction paths under different scenarios are obtained. The sustainability impact of different power generation combination scenarios is comprehensively evaluated using the multi-index evaluation method, and the optimal path of the power system to energy scenario is selected. The research conclusion provides a basis for the power sector's renewable energy power generation path selection.
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Affiliation(s)
- Bo Wang
- Institute of Geographic Sciences and Natural Resources Research, Chinese Academy of Sciences, Beijing, 100101, China.
- College of Resources and Environment, University of Chinese Academy of Sciences, Beijing, 100049, China.
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9
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Yang C, Song X. Assessing the determinants of renewable energy and energy efficiency on technological innovation: Role of human capital development and investement. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:39055-39075. [PMID: 36595169 DOI: 10.1007/s11356-022-24907-4] [Citation(s) in RCA: 1] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 09/19/2022] [Accepted: 12/18/2022] [Indexed: 06/17/2023]
Abstract
With rising global production and population, the globalized globe has also seen severe environmental damage. This is why renewable energy sources are important for the planet's future and human progress. In order to fight climate change and decrease emissions, promoting energy efficiency is one of the most valuable strategies. Trade patterns across borders, however, have significantly evolved. This analysis provides new evidence regarding the influence of technological progress, and more specifically, industrial innovation, on the OECD countries' international competitiveness. This article aims to analyse the effects of international commerce, FDI, and human capital on the development of renewable energy sources, energy efficiency measures, and cutting-edge technologies. In this analysis, we look at how different variables, including GDP per capita, trade, FDI, human capital, and urbanization, affect one another. To conduct the analysis, researchers used a pool of annual time series data from 2000 to 2019 for OECD economies. The long-term relationship between the variables is estimated using the AMG estimation, Cup-FM, and Cup-BC test. AMG estimation, Cup-FM estimation, and Cup-BC estimation were all used, providing valid results for the investigation. Research shows that energy efficiency, renewable energy, and technological innovation are negatively affected by FDI and urbanization but positively affected by GDP per capita, trade, and human capital. There is no statistically significant effect of human capital on the dependent variables. The estimated results also provide important policy consequences for the chosen and the other emerging economies in creating an adequate route ahead to sustainable development.
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Affiliation(s)
- Cunbo Yang
- School of Management, Zhengzhou Shengda University, Zhengzhou, 451191, China
| | - Xiaowen Song
- School of Management, Henan University of Technology, Zhengzhou, 450001, China.
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10
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Wu D, Song W. Understanding the role of green finance and innovation in achieving the sustainability paradigm: application of system GMM approach. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:41806-41819. [PMID: 36640231 DOI: 10.1007/s11356-022-25079-x] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/09/2022] [Accepted: 12/27/2022] [Indexed: 06/17/2023]
Abstract
THe central challenge facing China's sustainable development is how to strike a balance between economic growth and environmental conservation. In China's ongoing economic revolution, green finance is more important than ever. The study empirically examined how green finance and innovation affect carbon emissions using panel data from 30 Chinese provinces gathered between 2010 and 2020. The empirical analysis is undertaken to utilize a series of methods to investigate the impact of green finance on carbon emissions. The findings show that increased green finance, innovation, and industrial structure reduce carbon output. Moreover, carbon emissions increase with increasing trade openness and economic growth. In order to achieve sustainable development goals through economic and environmental sustainability, it has been discovered that green finance can foster green technology innovation and green business.
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Affiliation(s)
- Deqiang Wu
- Henan Polytechnic, Zhengzhou, 450046, China
| | - Weiping Song
- College of Political Science and Public Administration, Henan Normal University, 453007, Xinxiang, China.
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11
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Liu Y, Xia L. Evaluating low-carbon economic peer effects of green finance and ICT for sustainable development: a Chinese perspective. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:30430-30443. [PMID: 36434457 PMCID: PMC9702839 DOI: 10.1007/s11356-022-24234-8] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Figures] [Subscribe] [Scholar Register] [Received: 09/13/2022] [Accepted: 11/12/2022] [Indexed: 04/16/2023]
Abstract
With the adoption of the United Nations Sustainable Development Goals and the Paris Climate Agreement, ADB's involvement should not be ignored. The Global Environment Facility (GEF) and ADB have teamed up to provide climate change financing for developing countries. Included in this is climate protection finance, the financing method that offers cash to assist the region in achieving ecological responsibility. Using a systematic framework, the researchers in this study examined the rationale for building a cohort result of green management in China in the new phase of the country's development. As part of a multiplicative framework, the long-term correlation between variables is quantified using the dynamic common correlated effect (D-CCE) and interactive fixed effect. According to the findings, renewable energy and green financing are good environmental indicators. Environmental degradation is negatively affected by green governance. Some people are concerned about how to dispose of ICT, yet on the other side, ICT can help cut carbon emissions with new clean technologies. Moreover, the findings show that urbanization and per capita income increase carbon emissions. The results suggest that Chinese officials need to support reducing carbon emissions through the development of ICT infrastructure, green financing, and renewable energy.
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Affiliation(s)
- Yujia Liu
- Henan Polytechnic, Zhengzhou, 450046 China
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12
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Feng H, Yang F. Does environmental psychology matter: role of green finance and government spending for sustainable development. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:39946-39960. [PMID: 36602740 PMCID: PMC9815070 DOI: 10.1007/s11356-022-24969-4] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Figures] [Subscribe] [Scholar Register] [Received: 11/14/2022] [Accepted: 12/19/2022] [Indexed: 06/17/2023]
Abstract
Over 30% of the global GDP and 60% of the worldwide population are involved in the Belt and Road Initiative (BRI), making it one of the greatest development projects in the world. If infrastructure developments in BRI countries are successful, economic growth in those nations will increase dramatically. Using data from 2005 to 2020, this research examines the relationships between environmental psychology, green finance, and sustainable development and variables such as GDP per capita and its square, green financing, government expenditure, and human capital in 57 strategically chosen BRI economies. Economists used cutting-edge techniques that take into account multiple variables at once in their analysis, such as cross-sectional dependence, unit root testing, co-integration analysis, IFE estimation, dynamic panel data (DCCE), and generalized method of moments (system GMM). The findings indicate that green financing, government spending, and GDP per capita squared reduce emissions of carbon dioxide. In this analysis, the level of human capital is similar to GDP per capita in its beneficial effect on carbon emissions. Carbon emissions are negatively impacted by government spending, which has a minor effect on GDP per capita, green financing, and human capital. Using the results of this study, the authors offer recommendations for how a country can reduce its carbon output.
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Affiliation(s)
- Haiyan Feng
- College of Economics and Management, Taiyuan University of Technology, Taiyuan, 030002 Shanxi China
| | - Fen Yang
- Beijing Academy of Science and Technology, Beijing, 100089 China
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13
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Liu J, Teng Y. Evolution game analysis on behavioral strategies of multiple stakeholders in construction waste resource industry chain. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:19030-19046. [PMID: 36220964 DOI: 10.1007/s11356-022-23470-2] [Citation(s) in RCA: 4] [Impact Index Per Article: 4.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 07/13/2022] [Accepted: 10/01/2022] [Indexed: 06/16/2023]
Abstract
Rapid urbanization in China in recent years has led to a dramatic increase in the number of construction engineering projects and amount of construction waste, and the resource utilization of construction waste is an effective way to low-carbon and energy conservation construction. However, the nation has experienced a low utilization rate of construction waste resources, slow development of its construction waste recycling industry chain in various areas, low coordination of various stakeholders in the industry chain, and incomplete industry chain management. Therefore, in this study, a game model is first used to analyze the decision-making game and its stability strategy among multiple stakeholders in the recycling of construction waste. An income matrix of the three parties, i.e., the government, construction companies, and recycling enterprises, in the construction waste industry chain is then established and the Jacobi matrix used to obtain their evolution and stability strategy (economic incentives, green production, and scale-up). Finally, conclusions are drawn from the simulation analysis of the model: (1) The ratio between fine and subsidy should be reasonably controlled such that the recycling of construction waste by the construction companies is positively related to government supervision. (2) The inflow of renewable products into the market should be promoted to change the perception of the public. (3) A new mode of construction waste management should be developed to link various stakeholders in the industry chain. This study provides scientific and reasonable management suggestions in line with the actual situation of China and provides a useful reference for local government to choose appropriate policies to address the problem of construction waste recycling industry chain.
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Affiliation(s)
- Jingkuang Liu
- Department of Construction Management, School of Management, Guangzhou University, Guangzhou, 510006, China.
| | - Yue Teng
- Department of Construction Management, Dalian University of Technology, Dalian, China
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14
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Xia Q. Does green technology advancement and renewable electricity standard impact on carbon emissions in China: role of green finance. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:6492-6505. [PMID: 35997880 DOI: 10.1007/s11356-022-22517-8] [Citation(s) in RCA: 1] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 07/07/2022] [Accepted: 08/09/2022] [Indexed: 06/15/2023]
Abstract
Renewable energy growth should be accelerated in order to meet our goal of carbon neutrality and peak carbon emissions. Laws like the Renewable Electricity Standard (RES) are becoming increasingly important in producing renewable energy. Using green technology advancements is seen as balancing economic growth with environmental security. Though the connection between green technology advancements and CO2 emissions is poorly understood, empirical research is lacking, especially in developing countries. Climate change action now falls under a single overarching contract, signed in Paris on November 4, 2016. Global warming mitigation aims to keep temperature increases to no more than 2 °C above preindustrial levels. By 2060, China intends to reach carbon neutrality by developing green technologies (GTI). Because of these interconnections, this research explores the relationship between green technology innovation (GI) and renewable energy investment (REI) in selected Chinese provinces from 2005 to 2019. GI, REI, urbanization, industrial value-added, and income per capita were all considered in the STIRPAT model. We used a panel of chosen regions to test two relatively new panel estimation methods empirically: "continuously updated fully modified" (Cup-FM) and "continuously updated bias-corrected" (Cup-BC). According to our findings, urbanization and green technological developments positively impact CO2 emission reduction. The panel also finds that investments in renewable energy and the industrial sector fail to reduce pollution levels. A positive and negative coefficient of income per capita indicates that the inverted U-shaped EKC hypothesis is valid for the Chinese provinces. The results provide vital strategy insights and recommendations for the panel of experts and countries worldwide.
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Affiliation(s)
- Qing Xia
- School of Economics and Management, China University of Mining and Technology, Beijing, China.
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15
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Ip Y, Iqbal W, Du L, Akhtar N. Assessing the impact of green finance and urbanization on the tourism industry-an empirical study in China. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:3576-3592. [PMID: 35948790 DOI: 10.1007/s11356-022-22207-5] [Citation(s) in RCA: 15] [Impact Index Per Article: 15.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 06/26/2022] [Accepted: 07/21/2022] [Indexed: 06/15/2023]
Abstract
There is a dearth of empirical studies looking at the link between green economic development and tourism in quantifiable terms. Using panel data from China's 30 provinces from 2005 to 2018, this study investigates the impact of green finance on China's tourism industry. Using renewable energy, income per capita, carbon emissions, and urbanizations as explanatory factors is also utilized. According to estimation, the findings reveal that green finance substantially impacts the tourism business. This positive effect is more pronounced in provinces where economic and social conditions are better, thus boosting the region's tourism industry. The same holds for income per capita, renewable energy, and environmental factors. In addition, urbanization has a negligible effect on the variable being studied. A further way to boost the growth of tourism is through the use of green finance. The empirical findings can benefit China's green financial planning and environmental sustainability.
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Affiliation(s)
- Yunkit Ip
- Faculty of International Tourism and Management, City University of Macau, Macau, China
| | - Wasim Iqbal
- Department of Management Science, College of Management, Shenzhen University, Shenzhen, China.
| | - Lijie Du
- Sichuan Tourism University, Chengdu, China
| | - Nadeem Akhtar
- School of Urban Culture, South China Normal University, Nanhai Campus, Foshan, 528225, China
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16
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Cao L. How green finance reduces CO 2 emissions for green economic recovery: empirical evidence from E7 economies. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:3307-3320. [PMID: 35947259 DOI: 10.1007/s11356-022-22365-6] [Citation(s) in RCA: 1] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 05/09/2022] [Accepted: 05/31/2022] [Indexed: 06/15/2023]
Abstract
The present study examines the effects of green finance on green economic performance index in the presence of income per capita, corporate social responsibilities, green energy, and technical innovations in emerging seven (E7) countries from 2005 to 2018. This study employed second-generation panel cointegration methodologies. The result of the cross-sectional dependency and slope heterogeneity test confirms that the panels are correlated and there exists slope heterogeneity. The results for the short- and long-run confirm the relationship between green economic performance index, green finance, GDPC, technological innovation, CSR, and green energy. In both the short- and long-run, green finance, technological innovation, and CSR decrease the carbon emissions and increase green economic growth, whereas income per capita and GDPC significantly increase the carbon emissions. The robustness check findings obtained D-H panel causality test validate the results. Reducing energy usage by adopting efficient technologies should be encouraged through green financing reforms implemented by policymakers.
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Affiliation(s)
- Lingling Cao
- Suqian University, Jiangsu, 223800, Suqian, China.
- China University of Mining and Technology, Jiangsu, 221116, Xuzhou, China.
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Xu L, Xu C. Does green finance and energy policy paradox demonstrate green economic recovery: Role of social capital and public health. Front Public Health 2022; 10:951527. [PMID: 36438284 PMCID: PMC9686392 DOI: 10.3389/fpubh.2022.951527] [Citation(s) in RCA: 2] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 05/24/2022] [Accepted: 09/20/2022] [Indexed: 11/11/2022] Open
Abstract
Green economy development has become a mainstream value orientation in social and global economic development to protect and improve the ecological environment. Multiple stakeholders are needed to address complex issues, such as climate change and its impact on the ecological environment and public health. This study investigates the impact of energy policy and green finance on green economic recovery via the controlling role of social capital and public health. An entropy approach was used to measure the green economic index in addition to an econometric approximation for interpreting the longitudinal dataset for the scenarios for E7 countries between 2010 and 2020. The findings show that the development of green finance significantly improves green productivity. Higher levels of economic and social conditions, a lower level of public involvement in environmental protection, and a higher level of pollution amplify this positive effect. On the other hand, energy policy can enhance the impact of green finance development. The findings suggest that the empirical findings benefit green finance planning and energy policy.
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Affiliation(s)
- Li Xu
- College of Science and Technology Ningbo University, Ningbo, China
| | - Chao Xu
- Ningbo College of Health Sciences, Ningbo, China
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