The study of the relationship between green finance and resource efficiency in east asian economies

Can Zhang, Liangyu Zhang, Liyan Liu and Chaofei Du

Resources Policy, 2024, vol. 89, issue C

Abstract: This empirical study, spanning 2000 to 2022 in East Asian economies, employs the Continuously-Updated and Fully Modified approach to explore determinants of fossil fuel utilization efficiency. Findings reveal a positive link between a 1% increase in green finance and a 0.16% enhancement in fossil fuel efficiency, reducing intensity. Conversely, increased inward foreign direct investment (FDI) correlates with reduced efficiency and heightened fossil fuel intensity, emphasizing the need for eco-friendly FDI strategies. A positive connection is identified between a 1% rise in green energy deployment and a 0.26% improvement in fossil fuel efficiency. However, an elevated employment ratio is associated with lower efficiency and higher fossil fuel intensity. To foster a sustainable and energy-efficient future, recommended policies include prioritizing green finance, digitalizing the green financial sector, implementing green FDI reforms, creating green job positions, and enhancing societal awareness in East Asian economies.

Keywords: Fossil fuels efficiency; Green finance; Sustainable economic recovery; East asia; Panel data (search for similar items in EconPapers)
JEL-codes: C23 G21 G28 O13 Q43 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:89:y:2024:i:c:s0301420724000254

DOI: 10.1016/j.resourpol.2024.104658

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