The dynamics of public spending on sustainable green economy: role of technological innovation and industrial structure effects

The effect of education expenditure on air pollution: Evidence from China

Education expenditure is essential in mitigating air pollution, but the relationship between education expenditure and air pollution lacks in-depth discussion. Utilizing data at the county level in China during 2007-2021, this study estimates the effect of education expenditure from local governments on air pollution. Our findings demonstrate that education expenditure significantly and negatively affects air pollution, which remains robust after addressing endogeneity. The mechanism analysis presents that education expenditure reduces air pollution through the composition, technique, and income effects. The heterogeneity analysis indicates that the impact of education expenditure exhibits marked regional heterogeneity. Specifically, the role of education expenditure is significant in strong regulation, key, eastern, and central regions. By considering interaction terms, we identify the moderating effects of human capital, economic development, infrastructure construction, and public service for education expenditure. The cost-benefit analysis emphasizes that education expenditure improves social welfare. Our findings can inspire local governments to place more emphasis on air quality and public education expenditure.

Examining the relationship between international digital trade, green technology innovation and environmental sustainability in top emerging economics

Ensuring preserving a sustainable environment is a crucial concern for individuals worldwide. In previous research, CO2 emissions have been used to measure environmental deterioration. However, in this study, we have expanded the scope to include carbon emissions and several other gases. This comprehensive measure is referred to as the ecological footprint (EFP). More significant international digital trade (IDT) has the potential to achieve several positive results, including reducing EFP (economic frictions and barriers), stimulating economic growth, and minimizing trade risk and volatility. These benefits can be realized by implementing structural reforms in significant production and development sectors. Green technology innovation (GTI) has the potential to make substantial progress in ecological quality and energy efficiency. Nevertheless, previous studies still need to adequately prioritize examining rising economies in terms of international trade diversification and GTI. This study examined the effects of IDT, GTI, and renewable energy consumption (REC) on EFP in BRICST countries. The study utilized data from the period between 1995 and 2022. The cross-sectionally augmented autoregressive distributed lag (CS-ARDL) model demonstrates that EFP negatively correlates with trade diversification, REC, and GTI in the long and short term. These countries have demonstrated a significant presence of eco-friendly products in their trade portfolios, and their manufacturing processes are shifting towards GTI. The objective is to enhance the REC sources and minimize EFP from consumption. Conversely, the increasing economic growth within this economic group has a compounding impact on the environment's decline since it amplifies the carbon emissions from increased consumption. To reduce the EFP level, the paper suggests increasing investment in GTI, promoting worldwide digital trade, and embracing renewable energy sources.

Income inequality effect of government investment behavior: Comparisons based on different investment areas, different regions and different groups in China

The research focuses on and analyses the effect of government investment on income distribution by evaluating the effects of public spending on income variation in various fields, in various regions, and at different income levels in the Chinese economy. The study found that government investment in different fields substantially decreases income inequality. Increasing housing security, medical, agriculture, forestry and other expenditures has a significant impact on improving the income inequality between rural and urban inhabitants; the impact of government investment in the western, central, and eastern regions on the reduction of income variation is decreasing successively, with emphasis on government investment in the western and central regions. The effects of government investment on the decline of the income distribution are twofold: first, it influences the amount of low- and middle-income groups; second, it has an impact on the reduction of high-income organizations; however, the impact on the income equality of high-income and low-income organizations is not considerable. In investment, the study demonstrates that income inequality can be reduced without negatively affecting the financial status of higher-income individuals. It is significant to value providing adequate housing security for low-income populations as a critical policy implication. This study, utilizing novel indicators, contributes to the current body of research on the impact of fiscal policy in addressing income inequality in China.

Studying financial development with low-carbon architecture development and green technological innovation: sustaining SDG-9

In order to accomplish Sustainable Growth Goal 9, this research analyzes in detail how green technological innovation, low-carbon architectural improvement, and more significant financial growth all work together to reach the goal. This research meticulously integrates secondary data from reputable sources to examine the relationship between economic growth, technological innovation in the built environment, and environmental sustainability from 1994 to 2019. For economic insights, the World Bank's World Development Indicators is a go-to resource, while Yale University's Environmental Performance Index (EPI) is a go-to for environmental metrics. Our research is based on this synthesis of multi-dimensional data, which enables an in-depth investigation of the interplay between financial development, sustainable architecture, and technical progress toward SDG-9. This research employs quantitative and qualitative methodologies to shed light on the intricate interaction between these elements, making it useful for policymakers, scholars, and stakeholders dedicated to directing sustainable development paths.

Renewable energy transition to sustainable tourism: extrapolating from core density and non-parametric approaches

The globe has faced severe challenges recently, and environmental deterioration has become more prominent. Therefore, the world has taken several initiatives to deal with environmental issues while the problem remains intact. Interestingly, the OECD economies are the leading example to understand the accurate picture of sustainability across the near regions. This study makes an effort to introduce the core factors such as economic development, renewable energy, tourism, natural resources, and innovations in OECD economies over the period of 2000-2021. Similarly, to investigate the study's objectives, this study employs the quantile autoregressive distributed lag model (Q-ARDL). The analyzed results show the significant contribution of renewable energy, tourism, and natural resources to environmental sustainability. In contrast, income and innovations contribute to ecological deterioration. Moreover, the quantile causality is being used by this empirical study to investigate the causal association among studied variables. However, using green energy in sustainable tourism is highly recommended for specified economies. In order to deal with environmental pressure, this research proposes green implications to attain the desired sustainability level.

Creating a greener future: the crucial role of green innovation and supply chain management in corporate sustainability

One of the most pressing concerns today is how to improve green innovation and supply chain management for company sustainability. It has been discovered that inefficient supply chain management is a major barrier limiting eco-friendly innovation. The supply chain management process is crucial to a company's long-term viability, yet previous research barely scratched the surface of its significance. This article uses a resource-based view to investigate how integrating green innovation and organizational agility into the supply chain management process contributes to the long-term success of businesses. This study used a cross-sectional approach. Structured equation modeling was used to examine data collected through convenience sampling from 475 employees of Chinese multinational manufacturing enterprises. Green innovation helps smooth over the bumps on the road between supply chain management and sustainable business results. Green innovation and business sustainable performance also benefit from organizational agility, which was not shown to moderate this relationship. The study teaches that in today's knowledge-based economy, firms that invest in novel technologies and adopt greener strategies are better able to address sensitive issues like supply chain management and organizational agility and achieve long-term success. This research aims to provide light on the complex interconnections between supply chain management, green innovation, and the sustainable performance of businesses. The theoretical framework for the present research was validated by the occurrence of a positive association between these variables.

Natural resources and financial development: Role of corporate social responsibility on green economic growth in China

While natural resource and financial growth have been researched extensively, the impact of corporate social responsibility on green economic growth through the incorporation of corporate regulations has received less attention. Empirical conclusions are supported by a balanced panel of data collected annually on resource-rich countries in China between 1992 and 2018. Multiple econometric issues, such as the existence of heterogeneity among the selected countries, can be tackled with the help of the PMG-ARDL method. There is evidence of cointegration between the variables according to the Johansen Fisher Panel Cointegration Test and the Kao Test. The findings of the PMG-ARDL suggest a favorable long-term relationship between resource income and public debt, but a negative short-term relationship. Public debt sustainability in the panel nations is threatened by their over-reliance on total natural resource rents if efficient fiscal and financial administration reforms are neglected. The Vector Error Correction Model (VECM) used in this panel establishes a causal relationship between available resources and the level of state debt. There is empirical data to back up the fiscal curse theory. If regulations are not in place to protect natural resources, they could impede economic development. The financial resource curse may be eased if China adopted more business-friendly regulations. Assuming this condition is met, policy recommendations for sustaining natural resource rent-related gains in economic development may be developed.

Assessing the environmental effects of ICT and renewable energy: roles of financial development, innovation, and trade

In today's world of rapidly expanding economies, the fundamental aim of most nations is to raise the quality of living for their citizens. The investigation aims to analyze how environmental rules affect the emergence of environmentally conscious economies. This research focused on China's 26 provinces to investigate the elements influencing green economic development. These components included information and communication technology (ICT), industrial structure (IND), human capital (EDU), and foreign direct investment. Spatial modeling and SBM methods were utilized to show that there is still a connection between the variables after all these years using yearly time series data that began in 2000. Overall, the results suggest that environmental regulation helps green economic development (GDE), whereas industrial structure significantly hinders. Similar to the previous point, information and communication technology has a favorable influence on building a sustainable economy. The problem of ensuring long-term economic growth via information and communication technology is complicated and has scholars engaged in exciting discussion. The expansion of the green economy is also affected by factors such as human capital and foreign direct investment. This study's findings illuminate the economic effects of environmental regulations and support the contention that such laws are necessary for accomplishing the win-win goals of green economic development and environmental protection. This means that the research provides a fresh perspective to consider the monetary effects of environmental restrictions.

Nexus between information and communication technology, social capital, and sustainable development: the leading role of terrorism and financial development

Even though the existing studies have extensively investigated the impacts of information and communication technology and social capital on sustainable development, the literature overlooks the role of their interaction effect in the level of emissions. To fill this gap in the existing body of ICT-environment literature, this article analyzes the impact of ICT, social capital, terrorism, and income on sustainable development using panel data model for Asian and Middle East countries from 2005 to 2022. The findings show that ICT and education significantly reduce CO2 emissions, while income increases the CO2 emissions. Moreover, innovation, trade, and financial development reduce the CO2 emission from increased ICT. The findings suggest that ICT is an important factor in increasing income and social capital and improving investment in sustainable development. The region's economies have far more serious consequences for internet users than those of Asian countries. Nonetheless, according to the policy recommendations of this study, governments in Asia and the Middle East should invest more in technology and other systems to take advantage of technology and achieve sustainable development.

Does higher education promote sustainable development? Role of green technology and financial performance

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.

Assessing financial performance through green bond markets and energy reliance in Asian economies

This article's overarching goal is to learn more about the effects of financial performance on the reliance upon or migration to energy efficiency sources in Asian countries using data envelopment analysis (DEA) and system GMM from 2017 to 2022. The results demonstrated the importance of relying on renewable energy sources when expanding the electricity sector effectively in an Asian environment. This same influence of green bond financing on energy investment during an eco-friendly improving economy is in addition to the proportion of renewable energy demands, power usage to gross domestic product, power manufacturing stretchability, electricity usage stretchability, or the overall impact of renewable energy transformation. The analysis revealed that the organizational climate has implicit implications that advance wage activity and that Asian financial systems drove a 30% point transition in the period studied from traditional power generation manufacturing and use methods toward sustainable energy. With this, we see a dramatic increase in the use of green power. This is largely attributable to the widespread use of green financing in constructing hydroelectric facilities throughout Asia. The theoretical underpinnings and empirical setting of the research are both original. Moreover, the association between green bond issuance and green, sustainable growth in industry and agriculture supports the response theory. Major governmental aspects include modernizing and expanding the finance system, updating national efficiency metrics, and creating a technological long-term infrastructure market. While previous studies have looked into the connections between green finance and economic growth, technological advancements in the energy sector, environmental responsibility, and renewable energy sources, this study is the first to focus on how green finance facilitates the shift to renewable energy in Asia's economies. The study's findings suggest how to manage renewable energy in Asia in a way that could work.

Macroeconomic determinants and their impact on environmental sustainability: the role of cultural and creative product prices

China has to deal with the twin challenges of economic structural reform and carbon emission reduction against global warming. While investing in and constructing new infrastructure is great for the economy, it has also added to the carbon emissions of major cities. The product design industry has recently become increasingly interested in creating and pricing cultural and creative goods in specific provinces. Thanks to the burgeoning global cultural and creative sector, a new platform has opened up for the evolution and modernization of China's ancient cultural practices. Cultural creativity has broken the rigid design and production pattern of traditional products from a business point of view, increasing their economic advantages and competition. Also, this study examines ICT's main and moderate effect on carbon emissions in the 27 provinces of China's economy from 2003 to 2019 using panel estimators. The estimated outcomes show the positive contribution to environmental damages by physical capital, tourism, cultural product prices, innovative, creative prices, and trade openness, while ICT significantly reduces emissions. Besides the moderate role of the digital economy on physical capital, tourism, CP, ICP, and tourism significantly reduce CO2 emissions. However, the granger causality outcomes also show a robust analysis. Furthermore, this study also proposes some interesting policies to obtain environmental sustainability.

An integration of oil price volatility, green energy consumption, and economic performance: assessing the mediating role of trade

The economic development of globalized economies is facing severe challenges in the context of a new era. Therefore, the purpose of the study is to assess how crucial factors like oil price fluctuations, renewable energy use, economic growth, the exchange rate, exports, imports, and trade affect the economic performance in the top 25 oil-importing countries using panel data from 2005 to 2021 collected annually. The present investigation employs a method for calculating the stability of associations between variables called AMG estimation. The robustness and reliability of CCEMG and DCCEMG estimates are tested in the present study. Consumption, exports, and trade in renewable energy all had a favorable effect on economic growth. The fluctuation of oil prices, the state of the economy, the currency exchange rate, and imports make things worse. In addition, the findings of the study indicate that the moderate effect of trade with fluctuating oil prices, rising finance, and economic expansion is aided by the current exchange rate. In addition to helping create an appropriate path forward for economic growth, the computed coefficients have policy implications for both the chosen developing economy and the other markets.

Can data center green reform facilitate urban green technology innovation? Evidence from China

With the expansion of the digital information industry, the size of global data centers is exploding. As part of a high-energy-consuming industry, data centers can support sustainable urban development through green transformation. This study uses a quasi-natural experiment of China's national green data center pilot policy implemented in 2015 to examine the impact of data center green transformation on green technology innovation in cities. Using a difference-in-difference (DID) analysis, this study finds that the national green data center pilot policy leads to higher levels of green technology innovation in cities, but the spillover effect of the policy on neighboring cities is insignificant. The mechanism test showed that the national green data center pilot policy could facilitate urban green technological innovation through capital deepening, market competition, and industrial agglomeration. In addition, the policy impact is more pronounced for cities with poorer environments, less civilization, high levels of network infrastructure, and more innovative endowments. The findings can provide new guidance for cleaner regional production from the standpoint of data center green development.

Nexus among financial inclusion and sustainability in Asia: role of banking sector

Promoting shared prosperity, economic success, and the expansion of the financial sector to individual development supported by financial inclusion to reduce poverty. Financial inclusion in Asian countries is generally considered relatively low. Thus, the purpose of this study is to explore the connection between the accessibility of financial services and the dependability of the financial sector. To accomplish the study purpose, data is incorporated from financial institutions based in Asia from 2008 to 2017. The generalized moment approach (GMM) was used to analyze the data. The study findings indicated that a more equitable distribution of wealth might be achieved by expanding access to financial services and strengthening the banking system's capacity to weather shocks. Financial institutions might benefit from integration into the financial system by increasing profits, decreasing operational expenses, and increasing market share. Several directions for further research have been proposed based on the results of this work.

Coordination evaluation of urban tourism and urban development based on TOPSIS method-a case of Xiamen city

Facing the current situation of tourism and urban prosperity and development, whether there is a contradiction between urban tourism and urban development, and whether they can always coordinate with each other will affect the sustainable development of both. In this context, the coordination of urban tourism and urban development has become an urgent research object. Based on the statistics of twenty indicators of urban tourism and urban development in Xiamen from 2014 to 2018, the article uses the TOPSIS analysis method to develop the number of tourists. Research results show that (1) the selected indicators all showed significant growth characteristics, and over time the coordination coefficient increases year by year and gradually approaches the ideal optimal value. (2) Among them, 2018 has the highest coordination coefficient, 0.9534. (3) The occurrence of "big events" has a double-sided effect on urban tourism and development coordination.

Assessing the linkage among green finance, technology, and education expenditure: evidence from G7 economies

The growth of green finance is a multifaceted system, including the interaction of three spheres: the economy, the environment, and the finance sector. Spending on education is a singular intellectual contribution to a society's attempts to achieve sustainability through the application of skills, the provision of consultancies, the delivery of training, and the dissemination of knowledge. University scientists sound the first warnings about environmental problems and help lead the charge toward transdisciplinary technological solutions. Researchers are compelled to look into the environmental crisis because it has become a worldwide concern that needs regular examination. In this research, we examine how the GDP per capita, green financing, health expenditure, educational expenditure, and technology in the G7 economies affect the growth of renewable energy (Canada, Japan, Germany, France, Italy, UK, and the USA). The research makes use of panel data from the year 2000 through the year 2020. Long-term correlations between the variables are estimated using the CC-EMG in this study. The study's trustworthy results were determined using a combination of AMG and MG regression calculations. The research shows that the growth of renewable energy is positively affected by green finance, educational spending, and technology but negatively affected by GDP per capita and health expenditure. The growth of renewable energy is also positively affected by the influence of the term "green financing" on such variables as GDP per capita, health expenditure, educational expenditure, and technological advancement. The estimated outcomes also provide significant policy implications for the chosen and other developing economies in scheming a suitable route to a sustainable environment.

Coupled improvements on hydrodynamics and water quality by flowing water in towns with lakes

With the worsening environmental problems in the plain river network, flowing water has become important because of its obvious improvement effect. In order to solve water quality and water mobility problems of the river network in Shengze Town, this paper establishes four flowing water scenarios and compares the associated improvements in water quality and hydrodynamics of the river network with the use of coupled hydrodynamic and water quality models. It is identified as the best scenario to dispatch 20 m³/s of water from the Xiegang River downstream of the Qingxi River and 20 m³/s of water from Lake Xiangjiadang to Lake Beiyandang. Results of this scenario show a significant improvement in the water mobility of the river network in the southern area of the Qingxi River, with the flow rate increasing by 38.23%. The water quality in Lake Beiyandang has upgraded from Class V to Class IV (based on the Chinese water quality standards), and the water quality downstream of the Qingxi River has improved a lot. Findings in this work could provide references for the development of flowing water scenarios in similar watersheds.

The digital economy and the green and high-quality development of the industry-a study on the mechanism of action and regional heterogeneity

Consistently rising carbon emissions in the global economy make it more challenging to meet the goals of the Paris climate agreement. Knowing what factors play a role is essential to help shape strategies to reduce carbon emissions. While there is a wealth of material on how GDP expansion correlates with increases in carbon emissions, little is known about how democracy and renewable energy could improve environmental conditions in developing nations. The purpose of this article was to use fair data to assess the effect of renewable energy and green technology advances on carbon neutrality in 23 provinces across China from 2005 to 2020. The research used the dynamic ordinary least square, the fully modified ordinary least square, and the two-step GMM to determine that digitalization, industrial development, and health expenditures result in lower carbon emissions. Urbanization, tourism, and per capita income in certain Chinese provinces also drove carbon emissions. The study also showed that the impact of these factors on carbon emissions varies depending on the amount of economic growth. Environmental pollution is reduced due to the digitalization of tourist and healthcare costs, industrial development, and urbanization. According to the study's findings, we advise these nations to seek economic growth and invest in health care and renewable energy initiatives.

Measuring sustainable development of intelligent tourism service system: analysis on the user's intention

The intelligent tourism service system will help strengthen the management of scenic spots, improve tourism efficiency, and help improve the tourism ecological environment. At present, there are few researches on intelligent tourism service system. This paper attempts to sort out the literature and build structural equation model based on UTAUT2 model (UTAUT is short for Unified Theory of Acceptance and Use of Technology) to analyze the factors that affect the users' willingness of use the intelligent tourism service system (ITSS) in scenic spots. The results show that (1) the effects of the factors affecting the users' intention to use the ITSS of tourist attractions are facilitating conditions (FC), social influence (SI), performance expectation (PE), and effort expectation (EE), (2) Both PE and EE can directly affect the user's intention to use ITSS, while EE indirectly affects the user's intention through PE. (3) SI and FC have a direct impact on the UI of ITSS. The simplicity of use on intelligent tourism application system products can significantly affect the user satisfaction index and product loyalty of the users. In addition, the usefulness factor of perception system and the risk factor of user perception system coexist, with the synergistic effect positively affects the ITSS and use behavior of the whole scenic spot. The main results provide theoretical basis and empirical support for the sustainable and efficient development of ITSS.

The response of green finance toward the sustainable environment: the role of renewable energy development and institutional quality

The problem for developed and developing economies is achieving sustainable development and cleaner production. Income, institutional regulations, institutional quality, and international trade are the primary factors of environmental externalities. This research looks at 29 provinces in China between 2000 and 2020 to determine the effect of green finance, environmental regulations, income, urbanization, and waste management on renewable energy generation. Similarly, the current study uses the CUP-FM and CUP-BC for the empirical estimation. More precisely, the study shows the positive influences of environmental taxes, green finance index, income, urbanization, and waste management in renewable energy investment. However, the different measures of green finance, such as financial depth, financial stability, and financial efficiency, also positively contribute to renewable energy investment. Therefore, it can be considered the best solution to environmental sustainability. However, imperative policy implications are given to attain the peak of renewable energy investment.

A hybrid model analysis of digitalization energy system: evidence from China's green energy analysis

The integration of renewable energy sources can be supported by the digitalization of energy systems, which increase dependability and lower costs of energy production and consumption. However, the energy digitalization support energy infrastructures and technologies currently in place are insufficient. This research presented the study results by using the generalized least square estimates (GLS) model and the international sample of China regions from 2003 to 2017. Main results of the dynamic fixed effect (DFE) estimator for the autoregressive distributed lag (ARDL) method, establishing ES goals for lowering energy consumption and pollution emission fosters a country's renewable energy business sector's digital transformation in the short term, while encouraging the use of renewable energy sources fosters a country's long-term digitalization efforts. Based on this, the direct effects and dynamic effects of digitalization and financial development on environmental are explored, respectively, using the panel data regression model and panel vector autoregression (PVAR) model. The threshold regression model is then used to examine the two parameters' threshold effects on eco-efficiency. An accurate estimate of the resource consumption in smart factories is made possible by the digital twin that is created using the product's and its attributes as well as manufacturing data. The results suggests the future directions for the associated stakeholders.

Financial impact of cost of capital on tourism-based SMEs in COVID-19: implications for tourism disruption mitigation

Opportunities for funding Tourism SMEs are emerging globally due to the expansion of tourism sector. However, it is still being determined how these financial arrangements will be controlled at more significant sizes equitably. In the contemporary period, E7 economy is deficient in producing the financial resources to ensure the availability of funds for the acquisition of funds for tourism-based SMEs. However, this research tested the empirical position of cost of debt in E-7 economies during COVID-19 crises. Study findings have shown significant outcomes between the constructs. The variation of conditions, structural uncertainty, transection systems, and variation in support by the financial institution for tourism-based SMEs are the main reasons that lessen borrowing and lending system of funds, from banks to SMEs. However, theorists must revisit the transaction system of debt financing for SMEs. Policymakers are suggested to develop viable and SME system-friendly policies to finance through debt capital from the banks in the time of structural imposed crises, like COVID-19.

Do environmental knowledge and green trust matter for purchase intention of eco-friendly home appliances? An application of extended theory of planned behavior

This study aims to identify the determinants of consumers' intentions to buy eco-friendly appliances for their households. This research scrutinizes the linkage between environmental knowledge (EK), consumer attitude (CAT), green trust (GT), and purchase intention (PI) in an emerging economy's context. This study analyzes survey data from 331 Pakistani consumers using energy-efficient household products. SEM is employed to assess the formulated hypotheses. Empirical findings suggest that EK positively and significantly influences CAT and green trust. Similarly, CAT has a negative and insignificant influence on PI. In contrast, green trust is significantly and positively related to PIs. The research outcomes further disclose that perceived consumer effectiveness (PCE) and perceived behavioral control (PBC) positively influence PI. The study extends the B2B sales literature and suggests future directions for academics and practitioners.

Assessing the determinants of renewable energy and energy efficiency on technological innovation: Role of human capital development and investement

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.

Evaluating low-carbon economic peer effects of green finance and ICT for sustainable development: a Chinese perspective

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.

Does COVID-19 impact on financial markets of China-evidence from during and pre-COVID-19 outbreak

During the outbreak of COVID-19, concern significantly influenced our financial system. This new paper's primary assessment of the COVID-19 virus affects the world's major economies and financial markets. This paper utilizes an event analysis approach and a data model to investigate the influence of COVID-19 on the financial market system from three viewpoints: (1) supply chain finance and titles, (2) processing system, and (3) the financial system of the organization. According to data analysis, the model built in this work may properly depict the influence of COVID-19 on the financial market system. The results indicated that the low age coefficient (p-value (p 0.05)) and a higher blocking condition (p-value (p > 0.05)) impact city tourism market system with p-values of 0.002 and 0.004, respectively. Other results show the impact of the Chinese New Year vacations. Since then, the government has slowly stabilized its recovery, with many measures taken to limit the epidemic in February and a series of regulatory measures enacted to stabilize financial markets. These findings show a small but statistically significant degree of stabilization in international financial markets in response to stay-at-home government policies and social distancing measures, which is encouraging for political actors concerned about economic performance during the coronavirus 2019 pandemic response.

Does green technology advancement and renewable electricity standard impact on carbon emissions in China: role of green finance

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.

The impact of COVID-19 on small- and medium-sized enterprises (SMEs): empirical evidence for green economic implications

Small- and medium-sized enterprises (SMEs) in China have been hit hard by the coronavirus (COVID-19) outbreak, which has jeopardized their going out of business altogether. As a result, this research will shed light on the long-term impacts of COVID-19 lockdown on small businesses worldwide. The information was gathered through a survey questionnaire that 313 people completed. Analyzing the model was accomplished through the use of SEM in this investigation. Management and staff at SMEs worldwide provided the study's data sources. Research shows that COVID-19 has a significantly bad influence on profitability, operational, economic, and access to finance. In the study's findings, outside funding aids have played an important role in SMEs' skill to persist and succeed through technological novelty than in their real output. SME businesses, administrations, and policymakers need to understand the implications of this study's results.

How green finance reduces CO2 emissions for green economic recovery: empirical evidence from E7 economies

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.

Firm characteristics, governance mechanisms, and ESG disclosure: how caring about sustainable concerns?

Environmental, social, and governance (ESG) pillars help determine the business organizations' sustainable business practices. Considering the same, this research examines the association between firm characteristics, governance mechanisms, and ESG for a sample of 564 firms from fifteen developed economies. For empirical analysis, ordinary least square, fixed effect, and random effect estimations techniques were applied using annual data from 2010 to 2019. The overall findings reveal that the governance structure of firms (board size, board independence, and cross-listing) play a significant role in ESG disclosure. Moreover, low corruption perception reflects higher ESG disclosure among the targeted firms. Additionally, firm characteristics; such as liquidity position shows a better reporting of ESG during the study period. When accounting for the ESG disclosure individually, the findings confirm the productive role of board size, current ratio, and low corruption towards environmental exposure. Lastly, the results demonstrate that board size and ESG disclosure promote better financial performance. These results offer valuable policy recommendations.

Does financial development and renewable energy consumption impact on environmental quality: A new look at China’s economy

Environmental problems such as climate change have brought to light the necessity of implementing more stringent environmental regulations and expanding the use of renewable energy sources in order to protect the environment and maintain a green ecosystem. As a result, this study aims to investigate the impact of China’s financial development and consumption of renewable energy on the country’s environmental quality from 2009 to 2019. Following the application of the ARDL method, this research begins by employing the NARDL (non-linear autoregressive distributive lag) model in order to analyze the asymmetry in the data that results from the presence of either positive or negative aspects of financial development. The results of the NARDL bound test indicate that the variables are long-term co-integrated. This enables the application of the ARDL methodology. The ARDL bound test findings show a positive relationship that exists over the long-term between financial development, trade openness, renewable energy consumption, economic growth, and CO₂ emissions. In addition, the error correction model (ECM) provides evidence that there is, at least in the short run, a connection between CO₂ emissions, financial development, economic growth, and energy consumption. Furthermore, according to a dynamic multiplier graph, the positive aspect of financial development has a greater influence on carbon emissions for a longer time than the shocks associated with a less favorable financial development. According to the findings, there does not appear to be any asymmetry between CO₂ emissions and financial development, which supports the idea that both the positive and negative aspects of financial development have an equally significant impact.

Sustainable impact of COVID-19 on education projects: aspects of naturalism

History records show that pandemics and threats have always given new directions to the thinking, working, and learning styles. This article attempts to thoroughly document the positive core of coronavirus 2019 (COVID-19) and its impact on global social psychology, ecological stability, and development. Structural equation modeling (SEM) is used to test the hypotheses and comprehend the objectives of the study. The findings of the study reveals that the path coefficients for the variables health consciousness, naturalism, financial impact and self-development, sustainability, compassion, gregariousness, sympathy, and cooperation demonstrate that the factors have a positive and significant effect on COVID-19 prevention. Moreover, the content analysis was conducted on recently published reports, blog content, newspapers, and social media. The pieces of evidence from history have been cited to justify the perspective. Furthermore, to appraise the opinions of professionals of different walks of life, an online survey was conducted, and results were discussed with expert medical professionals. Outcomes establish that the pandemics give birth to creativity, instigate innovations, prompt inventions, establish human ties, and foster altruistic elements of compassion and emotionalism.

How to promote the development of a green economy: Talent or technology?—Evidence from China’s high-speed rail

The green economy is essential in supporting sustainable economic development and relies on talents and technologies. From the perspective of traditional economic theory, this study explores the impact of high-speed rail and innovation on the green economy from the perspectives of talent and technology. Using the data of 281 prefecture-level cities in China from 2008 to 2018, this study constructs empirical models to discuss the driving factors of the green economy. Empirical results show that high-speed rail and innovation can promote the development of a green economy, and the opening of high-speed rail can strengthen the positive association between innovation and a green economy. The accessibility of high-speed rail improves the flow of talent between different cities and greatly stimulates the positive impact of innovation on green economic activities. In the further test, this study explores the impact of high-speed rail and innovation on the green economy from different dimensions, including government policy, economic strength, and administrative level. During China’s 12th Five-Year Plan, high-speed rail and innovation had a positive impact on the green economy, but the impact of innovation can still be significant after this period. Moreover, the opening of high-speed rail may motivate the migration of talents from developed cities to developing ones, while developed cities can rely on technological advantages to support green economic activities. Furthermore, low-administrative level cities will rely on attracting more talents to promote a green economy due to technological disadvantages. Innovation can play a critical role in enhancing the green economy of cities with high administrative levels. Talents and technology are both important to green economic activities, and the construction of high-speed rail changes the impact of technology on the green economy through the flow of talent. Our findings can explain why the opening of high-speed rail can promote the development of a green economy and effectively help governments achieve the goal of sustainable development.

Modeling the influencing factors of electronic word-of-mouth about CSR on social networking sites

Corporate social responsibility (CSR) information can now be disseminated via social networking sites. An organization's image and upcoming portfolios are directly affected by electronic word of mouth (eWOM). It generates from its customers, employees, and other stakeholders. We developed a critical model to enlighten the behavior to share and comment on a negative news story about CSR displayed on Wechat and QQ to figure out what was causing this behavior. Structural equation modeling (SEM) and the partial least squares regression (PLS) approach were used to conduct a self-administered survey of hotel customers in China. Social and environmental awareness, information usefulness, corporate image, and a company's motivation to comment and share on CSR news were all considered explanatory variables in our study. We asked 300 Wechat and QQ users to rate a fake environmental news story. We found that social and environmental awareness affects the effectiveness of information and the attitude toward behavior, which may describe the eWOM intent of the particular news. On the other hand, corporate reputation could discourage people from disseminating eWOM and sharing the news with their social linkage contacts. The findings of the study suggest having a better understanding of how specific CSR activities can increase customers' commitment, which leads to positive eWOM, will benefit the hotel industry.

Nexus Between Financial Development, Renewable Energy Investment, and Sustainable Development: Role of Technical Innovations and Industrial Structure

Significant challenges confronting China include reducing carbon emissions, dealing with the resulting problems, and meeting various requirements for long-term economic growth. As a result, the shift in industrial structure best reflects how human society utilizes resources and impacts the environment. To meet China's 2050 net-zero emissions target, we look at how technological innovations, financial development, renewable energy investment, population age, and the economic complexity index all play a role in environmental sustainability in China. Analyzing short- and long-term relationships using ARDL bounds testing, we used historical data spanning 1990–2018. According to the study's findings, the cointegration between CO₂ emissions and their underlying factors was found. The deterioration of the environment directly results from financial development, increasing economic complexity, and population aging. Technical advancements, investments in renewable energy sources, and changes to the industrial structure all contribute to lower CO₂ emissions. Granger causality results were also reliably obtained in this study. According to our findings in the fight against environmental problems, a key tool for meeting long-term sustainability goals is policy prescriptions that use technological innovations, renewable energy investment, and industrial structure.

Impact of financial inclusion and globalization on environmental quality: evidence from G20 economies

Sustainable development and addressing climate change are among the most pressing issues faced by countries around the world. This research investigates the dynamic associations between financial inclusion, globalization and CO2 emissions of G20 nations from 2005 to 2018, considering the effects of industrial structure, corruption, green energy utilization and economic growth as control variables. In this study, both financial inclusion and globalization index were measured using principal component analysis (PCA). This study examines long-term associations using cross-sectional augmented autoregressive distributed lag (CS-ARDL) technique that offers more accurate outcomes. In addition, the VECM Granger causality method was applied to find causal relationships between study variables. Findings show that in financial inclusion, globalization has positive significant effect on carbon emissions. Moreover, corruption and economic have positive impact on carbon emissions, and renewable energy shows negative impact on environmental quality. The findings of this research are critical for achieving sustainable development and pollution control goals. Governments need to work to bring into line the financial inclusion goals with renewable energy consumption habits and environmental strategies.

Does green finance mitigate the effects of climate variability: role of renewable energy investment and infrastructure

Few researches have inspected the task of green finance in reducing CO2 emissions, while earlier studies have inspected the influence of economic development on carbon emissions. A green finance development index is built using four indicators to fill in this knowledge gap: green credit, green insurance, green securities, and green investing. Using data spanning the years 2005-2019, a panel quantile regression is applied to investigate the links between green finance, renewable energy, and CO2 emissions. Increases in renewable energy use and advances in the green finance development index have contributed to a reduction in CO2 emissions from BRICS countries. CO2 emissions on the other hand slowed the growth of renewable energy use, slowed the flow of investment to green projects, and ultimately hampered the development of green finance. There was also a clear policy-driven influence on renewable energy spending in the countries of the BRICS region. Green finance policies, on the other hand, have consistently failed to have a long-term impact. Therefore, rising the consumption of renewable energy and creating a carbon trading market are all part of this study's recommendations for green finance policy improvement.

Toward Sustainable Development: Unleashing the Mechanism Among International Technology Spillover, Institutional Quality, and Green Innovation Capability

Under the background of sustainable development, China's economic growth engine becomes innovation-driven, and it is an important way for China to rapidly improve its green innovation capability by opening up to the outside world and utilizing the spillover effect of international technology. In this article, the system quality evaluation system is reconstructed by the method of fully arranged polygonal graphical indicators, and the provincial system quality in China is measured and added into the model as a regulating variable. The dynamic panel method and the dynamic threshold panel method are used to test the direct effects of foreign direct investment (FDI) and foreign trade on green innovation capability, the interaction effect of institutional quality, and the threshold effect. Empirical results show that the three technology spillovers have significantly promoted China's green innovation capability. System quality will affect the determining coefficient of international technology spillovers on China's green innovation capability. The positive promoting effects of FDI and foreign trade on China's green innovation capability, all increase with the improvement of China's system quality. Therefore, when utilizing FDI and foreign trade to promote green innovation in each region, each region should consider creating a good institutional environment for the emergence of international technological effects.

Causes and Evolution Characteristics of Green Innovation Efficiency Loss: The Perspective of Factor Mismatch under Local Government Competition

The objective of this paper is to measure the efficiency loss of green innovation caused by local government competition and explore its causes and evolution characteristics. Based on the equimarginal principles such as the deviation of the allocation of green innovation output factors, this paper uses the panel data of China’s provinces (excluding Tibet, Hong Kong, Macao and Taiwan) from 2000 to 2020 and employs the spatial panel measurement model and the Kernel density estimation. The study finds that first, local government competition causes the mismatch of local innovation factors not only locally but also in neighboring regions. Second, the mismatch of innovative talents and capital caused by local government competition lowers the green innovation efficiency. Third, the shortage of innovative talents caused by local government competition is the main reason for the loss of green innovation efficiency in Beijing, Tianjin, and Shanghai. Fourth, the degree of efficiency loss of green innovation at the provincial level in China is heterogeneous in government competition strategies, and the loss due to tax competition is the most significant. Fifth, although the loss of green innovation efficiency generally decreases yearly, in the future, the institutional competition will still hinder the improvement of green innovation efficiency in the eastern, central and western regions of China. Our policy suggestions include promoting regional cooperation and cultivating innovative talents to further improve the efficiency of green innovation.

Industry 4.0 technology and circular economy practices: business management strategies for environmental sustainability

Circular economy and Industry 4.0 are two of the most hotly debated topics in recent decades. They gradually attracted the attention of academics, practitioners, and policymakers from around the globe. The current research looks at the impact of Industry 4.0 on circular economy practices and blockchain technology in order to boost firm performance. The closed questionnaire was used to collect cross-sectional data of 330 respondents, and the partial least squares structural equation modeling (PLS-SEM) modeling framework was used to demonstrate the findings of the study. The results show that blockchain technology improves circular economy practices significantly in terms of green manufacturing (GM), recycling and remanufacturing (RR), and green design (GD) in India. In addition, Industry 4.0 has the potential to improve business operations as well as financial performance and environmental performance significantly. As a result, the current research work offers recommendations for businesses to achieve long-term goals by incorporating Industry 4.0 into manufacturing systems.

Relating Sustainable Business Development Practices and Information Management in Promoting Digital Green Innovation: Evidence From China

Digital green innovations are being implemented in manufacturing to help organizations achieve sustainability by adopting sustainable development practices (SDPC). However, little is known about the impact of the information management process (IMP) on organizations' digital green innovation. To address this gap, we devised a multidimensional framework based on the resource-based view (RBV) theory that serves as a basis for sculpting how the IMP captured and sustained organizational digital green innovation via SDPCs. 533 respondents from big and medium-sized manufacturing businesses in China were surveyed, and data were analyzed using the structural equation modeling (SEM) approach. The study makes numerous significant findings. Firstly, the SDPC's dimensions (environment, economic, and social) are considerably improved by the IMP' dimensions (acquisition, dissemination, and application). Secondly, SDPC's dimensions are critical for attaining organizations' digital green innovation. Thirdly, SDPCs' implementation mediates the linkage between the IMP and organizations' digital green innovation. Our findings suggest that investing in and implementing cutting-edge technology and sustainable practices are critical for long-term success. Still, soft issues, such as organizational information management, are equally critical in today's information-based economy. Finally, in light of the study findings, we present theoretical and managerial implications.

Does Green Financing Develop a Cleaner Environment for Environmental Sustainability: Empirical Insights From Association of Southeast Asian Nations Economies

One of the most frequently used terms in climate change discussions is environmental sustainability. With economic growth and foreign direct investment as moderator factors, this study investigates the influence of green finance and financial development on environmental sustainability and growth in ASEAN economies from 2012 to 2019. ADF and Phillip-Peron (PP) unit root tests, fully modified least square (FMOLS), were employed for long-run empirical estimates. A substantial body of evidence supports the study’s findings using VECM technology. Green financing was negatively associated with CO2 emissions. However, environmental sustainability in ASEAN is favorably associated with green financing. It is also worth noting that green financing promotes environmental sustainability at the expenditure of economic growth. Financial development, foreign direct investment, R&D investment, and green technology foster economic expansion at the price of environmental sustainability. There are still many fences to green finance that need to be addressed, including pricing CO2 emissions and reforming inefficient nonrenewable fossil fuel subsidies. Local governments play a vital role in eliminating these barriers and addressing disincentives. It is recommended that policymakers push the financial sector to adopt a green finance strategy to further the goals of long-term sustainable development. Industry must integrate multiple objectives, such as inclusive growth and environmental protection and productivity, through an even broader range of legislative frameworks ideal for decoupling growth from social and ecological unsustainability, at the heart of the green manufacturing process.

Economic-Environmental Law Guarantee of the Green and Sustainable Development: Role of Health Expenditure and Innovation

Environmental regulation is a tool for teaching social and fiscal development that is carbon neutral. The highly polluting food industry in China is a threat to the country's long-term environmental stability and affects public health in a significant way. Therefore, this study investigates the effect of environmental parameters on environmental quality in China's food industry using the cross-sectionally augmented ARDL (CS-ARDL) model over the period of 2010 to 2019. We find that environmental regulations negatively and significantly impact environmental quality. The U-shape relationship exists between environmental regulation and environmental quality. Moreover, government expenditure on health and technological innovation reduces carbon emissions. The study's findings suggest new policy implications supporting the Porter Hypothesis. Finally, this paper offers policy suggestions for China's food industry to enhance its environmental performance.

Modeling and Analyzing the Impact of the Internet of Things-Based Industry 4.0 on Circular Economy Practices for Sustainable Development: Evidence From the Food Processing Industry of China

The Industry 4.0 concept proposes that new cutting-edge technologies, such as the Internet of Things (IoT), will grow. The acceptance of IoT in the circular economy (CE) is still in its infancy, despite its enormous potential. In the face of growing environmental affairs, IoT based Industry 4.0 technologies are altering CE practices and existing business models, according to the World Economic Forum. This research investigates the function of IoT-based Industry 4.0 in circular CE practices, as well as their impact on economic and environmental performance, which in turn influences overall organizational performance. China-based enterprises provide information for the study, which includes data from 300 companies. Utilizing a structural equation modeling framework known as partial least squares structural equation modeling (PLS-SEM). The major findings are presented in the study: (I) the IoT significantly improves the activities of the CE; (II) the IoT significantly improves the practices of the CE; and (III) the IoT meaningfully advances the practices of CE (green manufacturing, circular design, remanufacturing, and recycling). Moreover, the findings shows that environmentally friendly business practices help enhance environmental performance of firm, while also stimulating their economic performance; and improved environmental performance has a significant positive influence on firm performance. This research lays the groundwork for contributing nations/companies to attain economic and long-term sustainability goals at the same time by incorporating IoT-based Industry 4.0 technology into CE practices.