Leveraging Green Finance for Sustainable Development: An Empirical Analysis of Economic Growth and Environmental Sustainability of Asian OECD Economies
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.
creator: Dixit, Pragti; Bhatnagar, Mukul; Kaur, Rajinder; Varghese, Nikhil; Jain, Vibhuti
source: Utilizing Green Finance for Sustainable Development;pp.217-251
publisher: IGI Global Scientific Publishing
date: 01-01-2025
rights: Restricted Access; Hardcopy may be available in the library
relation: ISBN: 979-833731242-2; 979-833731240-8; 979-833731241-5;
language: English
type: Book chapter
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