Role of public and private investments for green economic recovery in the post-COVID-19

Xiaoqing Dai, Fangping Rao, Zhen Liu, Muhammad Mohsin and Farhad Taghizadeh-Hesary

Economic Research-Ekonomska Istraživanja, 2023, vol. 36, issue 1, 1146-1166

Abstract: This study evaluates the outlook of government expenditure through public and private financing for the green economic revitalization after COVID-19 in Canada. The various econometric estimations are used to measure the impact of government expenditure on green economic recovery. The implementation of public investment is explicitly associated with private funding. The results suggest that the government policy incentives and non-government financing influence fossil fuel energy sources proportions on non-government investment, which is additional than the feed-in tariffs. According to fixed effects results, the distribution of fossil fuel energy sources is an essential obstacle in solar energy investment. In contrast, the presence of varied types of renewable energy encourages non-government climate investment. Throughout the study period after the breakout of the pandemic phase, neither fossil fuel energy sources nor economic policy is marginally efficient. The different macroeconomic programs in green economic recovery might be ideal for attaining the needed impact. The critical policy conclusion of the results of this research is that an influential role of the public and private investment may be part of an optimal firm innovation plan for green economic recovery in the post-COVID-19 period.

Date: 2023
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DOI: 10.1080/1331677X.2022.2081865

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