Drivers Influencing Green Growth in ASEAN Countries: The Role of Corruption Control, Foreign Direct Investment, Energy Consumption, and Financial Development

Lam Dinh Mai (), Oanh Kim Thi Mai () and Tran Thai Ha Nguyen ()
Additional contact information
Lam Dinh Mai: Faculty of Socio-Economic Development Management, Academy of Public Administration and Governance - Ho Chi Minh City Campus, Ho Chi Minh City, Vietnam
Oanh Kim Thi Mai: Department of Training Administration, Ho Chi Minh City Cadre Academy, Ho Chi Minh City, Vietnam
Tran Thai Ha Nguyen: Department of Science, Technology and International Projects, Ho Chi Minh City University of Economics and Finance, Ho Chi Minh City, Vietnam

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 6, 667-679

Abstract: This study analyzes the impact of control of corruption, foreign direct investment, energy consumption, and financial development on green growth in ASEAN countries during the period 2002-2021. Applying panel data with feasible generalized least squares regression and quantile regression, the results show that control of corruption and financial development positively impact green growth. In contrast, foreign direct investment negatively and inconsistently impacts green growth. Quantile regression results show that the positive impacts of control of corruption and financial development are more pronounced in countries with high green growth. In contrast, foreign direct investment shows a substantial negative impact at high quantiles, implying the need to be more cautious with foreign direct investment projects during green growth aims. Factors such as population growth, urbanization level, service sector value added, and forest area all have negative impacts in most quantiles, emphasizing the urgency of effectively managing these factors to ensure sustainable green growth. Based on the empirical results, policy implications are recommended for ASEAN countries and emerging nations.

Keywords: Corruption; Foreign Direct Investment; Energy Consumption; Financial Development; Green Growth; Association of Southeast Asian Nations (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://econjournals.com/index.php/ijeep/article/download/20903/9415 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:v:15:y:2025:i:6:id:20903

Ordering information: This journal article can be ordered from
https://econjournals.com/index.php/ijeep

DOI: 10.32479/ijeep.20903

Access Statistics for this article

More articles in International Journal of Energy Economics and Policy from International Journal of Energy Economics and Policy
Bibliographic data for series maintained by Monica Sinhat ().