The Role of Green Finance in Driving Sustainable Economic Development in Emerging Economies

Yiran Chen ()
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Yiran Chen: Columbia University, School of International and Public Affairs

A chapter in Proceedings of the 2025 4th International Conference on Public Service, Economic Management and Sustainable Development (PESD 2025), 2025, pp 157-165 from Springer

Abstract: Abstract Green finance has emerged as a key mechanism for harmonizing economic growth with environmental sustainability, especially in emerging economies facing both development pressures and environmental constraints. This paper explores the contribution of green finance to sustainable economic development through instruments such as green bonds, green credit, and environmental, social, and corporate governance (ESG) investments. Using panel data from China, India and Brazil over the past decade, this research applies a policy evaluation framework to assess the impact of green finance flows on key macroeconomic indicators, such as gross domestic product (GDP) growth, carbon dioxide emissions and industrial upgrading. The results suggest that in the context of emerging economies, green financial mechanisms can effectively support low-carbon economic growth, contribute to infrastructure investment, and improve overall environmental governance capacity. This research contributes to the relevant literature by providing empirical evidence and policy implications for integrating green finance into long-term development strategies in emerging markets.

Keywords: Green finance; sustainable development; emerging markets; ESG investment; economic growth (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-916-2_19

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DOI: 10.2991/978-94-6463-916-2_19

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