EconPapers    
Economics at your fingertips  
 

Public spending and green economic growth in BRI region: Mediating role of green finance

Dongyang Zhang, Muhammad Mohsin, Abdul Khaliq Rasheed, Youngho Chang () and Farhad Taghizadeh-Hesary ()

Energy Policy, 2021, vol. 153, issue C

Abstract: Generally, public spending on education, research, and development (R&D) is perceived to impact the economy and sustainability positively; however, such notion lacks evidence, particularly in Belt and Road Initiative (BRI) member countries. In this study, panel data of BRI member countries from 2008 to 2018 is analysed using the generalized method of moments (GMM) method and data envelopement analysis (DEA) to assess the relationship between public spending on R&D and green economic growth and energy efficiency. The study found a fluctuating green economic growth indicator during the research period attributed to the non-serious nature of government policies. The findings reveal that the GMM method confirms both composition and technique effects in the entire sample. Nonetheless, the result of the sub-sample showed a heterogeneous effect on high GDP per capita countries. Moreover, the study shows that public spending on human resources and R&D of green energy technologies prompts a sustainable green economy through labour and technology-oriented production activities and different effects in different countries.

Keywords: Green public finance; Sustainable green finance; Radial direction distance function; Belt and road initiative; Generalized method of moments (search for similar items in EconPapers)
JEL-codes: H54 Q43 Q48 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (30) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301421521001257
Full text for ScienceDirect subscribers only

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:eee:enepol:v:153:y:2021:i:c:s0301421521001257

DOI: 10.1016/j.enpol.2021.112256

Access Statistics for this article

Energy Policy is currently edited by N. France

More articles in Energy Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2022-08-11
Handle: RePEc:eee:enepol:v:153:y:2021:i:c:s0301421521001257