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Revealing the effectiveness of green technological progress and financial innovation on green economic growth: the role of environmental regulation

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Abstract

Green economic growth is the best alternative strategy for sustainable development. Existing literature investigated the determinants of green economic growth in China and provides mixed results. Thus, our study explores the impact of green environmental technology, financial innovation, and environmental regulations on green economic growth by controlling the impact of renewable energy consumption, trade, and education. The study explores the symmetric and asymmetric associations by employing ARDL and NARDL approaches. The ARDL long-run findings display that green environmental technologies, environmental regulations, and financial innovations positively and significantly contribute to green economic growth. However, the NARDL long-run findings infer that positive shock in green environmental technology, financial innovation, and environmental regulation exerts a significant and positive impact on green growth, while negative shock in green environmental technology, financial innovation, and environmental regulation has an insignificant impact on green growth. Based on the findings, the study delivers important policy implications to promote green economic growth in China.

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Data availability

The datasets used and/or analyzed during the current study are available from the corresponding author on reasonable request.

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Authors and Affiliations

  1. School of Economics and Management, China University of Petroleum (East China), Qingdao, 266580, China

    Ying Su & Xinwei Gao

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  1. Ying Su
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  2. Xinwei Gao
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This idea was given by Ying Su. Ying Su and Xinwei Gao wrote the complete paper. Xinwei Gao read and approved the final version.

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Correspondence to Ying Su.

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Su, Y., Gao, X. Revealing the effectiveness of green technological progress and financial innovation on green economic growth: the role of environmental regulation. Environ Sci Pollut Res 29, 72991–73000 (2022). https://doi.org/10.1007/s11356-022-20978-5

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  • DOI: https://doi.org/10.1007/s11356-022-20978-5

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