ItemBook Chapter

Leveraging Green Finance for Sustainable Development: An Empirical Analysis of Economic Growth and Environmental Sustainability of Asian OECD Economies

Title
Leveraging Green Finance for Sustainable Development: An Empirical Analysis of Economic Growth and Environmental Sustainability of Asian OECD Economies
Creator
Dixit, Pragti; Bhatnagar, Mukul; Kaur, Rajinder; Varghese, Nikhil; Jain, Vibhuti
Description
Present study investigates the impact of Green Finance and CO2 emissions on GDP per capita of four Asian OECDeconomies controlling for Expenditure on Education, and Foreign Direct Investment using panel data for the time-period 2015 to 2023, applying pooled OLS, Fixed Effects, and Random Effects Models, and ultimately selecting the Fixed Effects Model based on robust statistical tests (Hausman and Breusch-Pagan LM), revealing that Green Finance significantly enhances GDP per capita, Expenditure on Education unexpectedly hinders it in the short term, and both CO2 emissions and Foreign Direct Investment lack statistically significant effects within countries, thereby underscoring the importance of internal structural factors and advocating for tailored, sustainability-driven, and context-sensitive economic growth strategies. Copyright 2026, IGI Global Scientific Publishing. Copying or distributing in print or electronic forms without written permission of IGI Global Scientific Publishing is prohibited. Use of this chapter to train generative artificial intelligence (AI) technologies is expressly prohibited. The publisher reserves all rights to license its use for generative AI training and machine learning model development.
Source
Utilizing Green Finance for Sustainable Development;pp.217-251
Date
01-01-2025
Publisher
IGI Global Scientific Publishing
Coverage
Dixit P., Chandigarh University, India; Bhatnagar M., Graphic Era University, India; Kaur R., Chandigarh University, India; Varghese N., Christ University, India; Jain V., Graphic Era University, India
Rights
Restricted Access; Hardcopy may be available in the library
Relation
ISBN: 979-833731242-2; 979-833731240-8; 979-833731241-5;
Format
online
Language
English
Type
Book chapter

Citation

Dixit, Pragti; Bhatnagar, Mukul; Kaur, Rajinder; Varghese, Nikhil; Jain, Vibhuti, “Leveraging Green Finance for Sustainable Development: An Empirical Analysis of Economic Growth and Environmental Sustainability of Asian OECD Economies,” CHRIST (Deemed To Be University) Institutional Repository, accessed June 18, 2026, https://archives.christuniversity.in/items/show/24616.

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