Abstract
Green financing and renewable energy growth are commonly influenced by public expenditure on health and R&D; however, data supporting this claim is scarce, especially in the 65 countries that are part of the Belt and Road Initiative (BRI). The study applied Augmented Mean Group (AMG) analysis on panel data from 2005 to 2018 for BRI nations to look at the interplay between R&D and health budgets, GDP growth, FDI, carbon emissions, green finance, and renewable energy deployment. This study uses the two models for green finance and renewable energy development. In the light of the first model, economic growth, public expenditures on health and R&D, and foreign direct investment cause to increase the level of green finance in BRI economies, while the emissions cause to reduce the level of green finance. Similarly, renewable energy development uses another explained variable by this study and found the positive contribution of growth, public expenditures, and FDI inflows to renewable energy development. In contrast, environmental pollution decreases the level of renewable energy development. In order to obtain the desired level of green finance and renewable energy development, policies are suggested by the study.
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Wu, D., Song, W. Does green finance and ICT matter for sustainable development: role of government expenditure and renewable energy investment. Environ Sci Pollut Res 30, 36422–36438 (2023). https://doi.org/10.1007/s11356-022-24649-3
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DOI: https://doi.org/10.1007/s11356-022-24649-3