 New challenges for green finance and sustainable industrialization in developing countries: A panel data analysisFredj Jawadi, Thierry M. Pondie and Abdoulkarim Idi Cheffou Energy Economics, 2025, vol. 142, issue C Abstract: This paper uses the fixed-effect model, the S-GMM, and the Kinky least square method to investigate the effect of green finance on sustainable industrialization for a panel of 56 developing countries over the period 2000–2021. Accordingly, we propose a per region panel data analysis of the relationship between green finance and sustainable industrialization for three different regions: Africa, Asia, and South America. Our findings show that green finance contributes positively and significantly to improving sustainable industrialization in most of the developing countries under consideration, but that the effect is more pronounced for Asia and South America. This suggests that for a robust environmental result, these developing countries should make greater use of environmentally friendly sources of finance, which can help to reorient their industries toward greater sustainability as well as fight the main economic challenges: unemployment, poverty, inequality, and social injustice. Keywords: Green finance; Sustainable industrialization; Developing countries; Panel data (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:142:y:2025:i:c:s0140988324008296 DOI: 10.1016/j.eneco.2024.108120 Access Statistics for this article Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant More articles in Energy Economics from Elsevier |
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