IDEAS home Printed from https://ideas.repec.org/a/eee/riibaf/v68y2024ics0275531923003239.html

Public spending and green finance: A systematic literature review

Author

Listed:
  • La Torre, Mario
  • Leo, Sabrina
  • Palma, Alessia
  • Zapata, Jenny Daniela Salazar

Abstract

The public sector is being urged to actively participate in sustainability challenges more than ever before. In response, we present a systematic literature review on sustainable finance in European public administrations, particularly environmental aspects. This paper provides a systematic literature review on sustainable finance in European public administrations. It analyzes 82 papers published between 1992 and 2022, identifying areas of investigation such as sustainable development planning, sustainability accounting, measurement tools, and public-private partnerships. Further research is needed in green finance, particularly in financing methods.

Suggested Citation

  • La Torre, Mario & Leo, Sabrina & Palma, Alessia & Zapata, Jenny Daniela Salazar, 2024. "Public spending and green finance: A systematic literature review," Research in International Business and Finance, Elsevier, vol. 68(C).
    • Handle: RePEc:eee:riibaf:v:68:y:2024:i:c:s0275531923003239
    DOI: 10.1016/j.ribaf.2023.102197
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0275531923003239
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ribaf.2023.102197?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Valeria Ferreira Gregorio & Laia Pié & Antonio Terceño, 2018. "A Systematic Literature Review of Bio, Green and Circular Economy Trends in Publications in the Field of Economics and Business Management," Sustainability, MDPI, vol. 10(11), pages 1-39, November.
    2. Elizabeth S. Vieira & José A. N. F. Gomes, 2009. "A comparison of Scopus and Web of Science for a typical university," Scientometrics, Springer;Akadémiai Kiadó, vol. 81(2), pages 587-600, November.
    3. Zhang, Dongyang & Mohsin, Muhammad & Rasheed, Abdul Khaliq & Chang, Youngho & Taghizadeh-Hesary, Farhad, 2021. "Public spending and green economic growth in BRI region: Mediating role of green finance," Energy Policy, Elsevier, vol. 153(C).
    4. Khan, Ashraf & Hassan, M. Kabir & Paltrinieri, Andrea & Dreassi, Alberto & Bahoo, Salman, 2020. "A bibliometric review of takaful literature," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 389-405.
    5. Angels Niñerola & Ramon Ferrer-Rullan & Antoni Vidal-Suñé, 2020. "Climate Change Mitigation: Application of Management Production Philosophies for Energy Saving in Industrial Processes," Sustainability, MDPI, vol. 12(2), pages 1-19, January.
    6. Heather Keathley-Herring & Eileen Van Aken & Fernando Gonzalez-Aleu & Fernando Deschamps & Geert Letens & Pablo Cardenas Orlandini, 2016. "Assessing the maturity of a research area: bibliometric review and proposed framework," Scientometrics, Springer;Akadémiai Kiadó, vol. 109(2), pages 927-951, November.
    7. Lamperti, Francesco & Bosetti, Valentina & Roventini, Andrea & Tavoni, Massimo & Treibich, Tania, 2021. "Three green financial policies to address climate risks," Journal of Financial Stability, Elsevier, vol. 54(C).
    8. Paltrinieri, Andrea & Hassan, Mohammad Kabir & Bahoo, Salman & Khan, Ashraf, 2023. "A bibliometric review of sukuk literature," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 897-918.
    9. Mary M. Crossan & Marina Apaydin, 2010. "A Multi‐Dimensional Framework of Organizational Innovation: A Systematic Review of the Literature," Journal of Management Studies, Wiley Blackwell, vol. 47(6), pages 1154-1191, September.
    10. David Moher & Alessandro Liberati & Jennifer Tetzlaff & Douglas G Altman & The PRISMA Group, 2009. "Preferred Reporting Items for Systematic Reviews and Meta-Analyses: The PRISMA Statement," PLOS Medicine, Public Library of Science, vol. 6(7), pages 1-6, July.
    11. repec:eme:mfppss:mf-11-2021-0561 is not listed on IDEAS
    12. Patricia Renou-Maissant & Jean Bonnet & Eva Coll-Martinez, 2021. "Evaluating Sustainable Development by Composite Index: Evidence from French Departments," Post-Print hal-03637639, HAL.
    13. Aurelio Tommasetti & Riccardo Mussari & Gennaro Maione & Daniela Sorrentino, 2020. "Sustainability Accounting and Reporting in the Public Sector: Towards Public Value Co-Creation?," Sustainability, MDPI, vol. 12(5), pages 1-19, March.
    14. Constantinos A. Balaras & Kalliopi G. Droutsa & Elena G. Dascalaki & Simon Kontoyiannidis & Andrea Moro & Elena Bazzan, 2019. "Urban Sustainability Audits and Ratings of the Built Environment," Energies, MDPI, vol. 12(22), pages 1-36, November.
    15. Hoang, Yen Hai & Ngo, Vu Minh & Bich Vu, Ngoc, 2023. "Central bank digital currency: A systematic literature review using text mining approach," Research in International Business and Finance, Elsevier, vol. 64(C).
    16. Lucia Biondi & Enrico Bracci, 2018. "Sustainability, Popular and Integrated Reporting in the Public Sector: A Fad and Fashion Perspective," Sustainability, MDPI, vol. 10(9), pages 1-16, August.
    17. Nicoleta Mihaela Florea & Georgeta-Madalina Meghisan-Toma & Silvia Puiu & Flaviu Meghisan & Marius Dalian Doran & Mariana Niculescu, 2021. "Fiscal and Budgetary Policy Efforts towards Climate Change Mitigation in Romania," Sustainability, MDPI, vol. 13(5), pages 1-18, March.
    18. Ralf Barkemeyer & Frank Figge & Andreas Hoepner & Diane Holt & Johannes Marcelus Kraak & Pei-Shan Yu, 2017. "Media coverage of climate change: An international comparison," Environment and Planning C, , vol. 35(6), pages 1029-1054, September.
    19. Lozano, M. Belén & Martínez-Ferrero, Jennifer, 2022. "Do emerging and developed countries differ in terms of sustainable performance? Analysis of board, ownership and country-level factors," Research in International Business and Finance, Elsevier, vol. 62(C).
    20. Liu, Qingrui & Tang, Lu, 2022. "Research on the accelerating effect of green finance on the transformation of energy consumption in China," Research in International Business and Finance, Elsevier, vol. 63(C).
    21. George H. Ionescu & Daniela Firoiu & Anca Tănasie & Tudor Sorin & Ramona Pîrvu & Alina Manta, 2020. "Assessing the Achievement of the SDG Targets for Health and Well-Being at EU Level by 2030," Sustainability, MDPI, vol. 12(14), pages 1-38, July.
    22. Ren, Yi-Shuai & Ma, Chao-Qun & Chen, Xun-Qi & Lei, Yu-Tian & Wang, Yi-Ran, 2023. "Sustainable finance and blockchain: A systematic review and research agenda," Research in International Business and Finance, Elsevier, vol. 64(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Veronica Grosu & Victor Cojocaru & Victor Cojocaru & Anastasia Mihaila & Anastasia Mihaila & Galina Badicu & Svetlana Mihaila, 2026. "Integrating IFRS 15 into budgeting and cost estimation for software companies," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 13(3), pages 177-192, March.
    2. Zhang, Xi & Zhu, Qingyuan & Hajek, Petr & Lucey, Brian & Abedin, Mohammad Zoynul, 2025. "The effects of regulatory mechanism on enterprise carbon reduction policies," Research in International Business and Finance, Elsevier, vol. 78(C).
    3. Rega, Federico Giovanni & Russo, Simona & Salerno, Dario, 2025. "Disentangling the S and the G in the European banking industry: The role of climate risk and opportunity awareness," Research in International Business and Finance, Elsevier, vol. 77(PB).
    4. Kai-Hua Wang & Shu-Mei Li, 2025. "Green bonds and carbon prices: a dynamic relationship revealed," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(12), pages 28995-29018, December.
    5. Harymawan, Iman & Nasih, Mohammad & Putra, Fajar Kristanto Gautama & Taylor, Grantley & Amran, Azlan, 2025. "Military experience and sustainable development goal disclosure," Research in International Business and Finance, Elsevier, vol. 78(C).
    6. Hassan, Mahmoud & Lee, Ji-Yong & Rouge, Luc & Kouzez, Marc, 2025. "The impact of green public finance and green taxes on environmental and non-environmental innovation," Research in International Business and Finance, Elsevier, vol. 76(C).
    7. Naseer, Mirza Muhammad & Hunjra, Ahmed Imran & Palma, Alessia & Bagh, Tanveer, 2025. "Sustainable development goals and environmental performance: Exploring the contribution of governance, energy, and growth," Research in International Business and Finance, Elsevier, vol. 73(PB).
    8. Zou, Yuxin & Park, Kyong Won, 2025. "Can green finance development inhibit corporate green bubble?," Finance Research Letters, Elsevier, vol. 86(PA).
    9. Chen, Jin & Meng, Wenfei & Dong, Yang & Zhou, Wei, 2025. "Geographic matching analysis between green finance development and carbon emissions in China’s new era of environmental transition," Research in International Business and Finance, Elsevier, vol. 73(PA).
    10. Alessi, Lucia & Duranovic, Anja & Kvedaras, Virmantas & Monasterolo, Irene, 2025. "From risks to opportunities: The impact of green public investment programs on sovereign yields," Research in International Business and Finance, Elsevier, vol. 77(PA).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. William Alomoto & Angels Niñerola & Laia Pié, 2022. "Social Impact Assessment: A Systematic Review of Literature," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 161(1), pages 225-250, May.
    2. Qadri, Hussain Mohi ud Din & Ali, Hassnian & Abideen, Zain ul & Jafar, Ahmad, 2024. "Mapping the Evolution of Green Finance Research and Development in Emerging Green Economies," Resources Policy, Elsevier, vol. 91(C).
    3. Graeme Joseph Allen, 2022. "Concepturealize™: a new contribution to generate real-needs-focussed, user-centred, lean business models," Journal of Innovation and Entrepreneurship, Springer, vol. 11(1), pages 1-33, December.
    4. Bhavna Thawani & Tushar Panigrahi & Meena Bhatia, 2024. "Eleven years of integrated reporting: a bibliometric analysis," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 21(4), pages 666-684, December.
    5. Jaspreet Kaur & Madhu Vij & Ajay Kumar Chauhan, 2023. "Signals influencing corporate credit ratings—a systematic literature review," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 50(1), pages 91-114, March.
    6. Alina Köchling & Marius Claus Wehner, 2020. "Discriminated by an algorithm: a systematic review of discrimination and fairness by algorithmic decision-making in the context of HR recruitment and HR development," Business Research, Springer;German Academic Association for Business Research, vol. 13(3), pages 795-848, November.
    7. Klarin, Anton, 2020. "The decade-long cryptocurrencies and the blockchain rollercoaster: Mapping the intellectual structure and charting future directions," Research in International Business and Finance, Elsevier, vol. 51(C).
    8. Belmonte-Ureña, Luis Jesús & Plaza-Úbeda, José Antonio & Vazquez-Brust, Diego & Yakovleva, Natalia, 2021. "Circular economy, degrowth and green growth as pathways for research on sustainable development goals: A global analysis and future agenda," Ecological Economics, Elsevier, vol. 185(C).
    9. Feng, Chao & Zhong, Siqi & Wang, Miao, 2024. "How can green finance promote the transformation of China's economic growth momentum? A perspective from internal structures of green total-factor productivity," Research in International Business and Finance, Elsevier, vol. 70(PA).
    10. Megha Garg & Shruti Malik & Parveen Kumar, 2025. "Decoding challenges in central bank digital currency implementation in India: a TISM-MICMAC approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 59(6), pages 5575-5602, December.
    11. Yi Lu & Gayani Karunasena & Chunlu Liu, 2022. "A Systematic Literature Review of Non-Compliance with Low-Carbon Building Regulations," Energies, MDPI, vol. 15(24), pages 1-20, December.
    12. Arun Kumar S & Dr. P. Jegan & Dr R. Vasanthagopal, 2025. "Global Research Trends in Policing, Cybercrime, And Digital Forensics: A Bibliometric Perspective," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 12(6), pages 1681-1696, June.
    13. Wei, Xiaobo & Mohsin, Muhammad & Zhang, Qiongxin, 2022. "Role of foreign direct investment and economic growth in renewable energy development," Renewable Energy, Elsevier, vol. 192(C), pages 828-837.
    14. B. Deepthi & Vikram Bansal, 2024. "Industry 4.0 in Textile and Apparel Industry: A Systematic Literature Review and Bibliometric Analysis of Global Research Trends," Vision, , vol. 28(2), pages 157-170, April.
    15. Yoo Ri Kim & Anyu Liu & Allan M Williams, 2022. "Competitiveness in the visitor economy: A systematic literature review," Tourism Economics, , vol. 28(3), pages 817-842, May.
    16. Shubham Singhania & Jagvinder Singh & Deepti Aggrawal, 2023. "Gender diversity on board and corporate sustainability: a quantitative review based on bibliometric mapping," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 14(1), pages 267-286, February.
    17. Zhang, Ling & Berk Saydaliev, Hayot & Ma, Xiaoyu, 2022. "Does green finance investment and technological innovation improve renewable energy efficiency and sustainable development goals," Renewable Energy, Elsevier, vol. 193(C), pages 991-1000.
    18. Yue Guiling & Siti Aisyah Panatik & Mohammad Saipol Mohd Sukor & Noraini Rusbadrol & Li Cunlin, 2022. "Bibliometric Analysis of Global Research on Organizational Citizenship Behavior From 2000 to 2019," SAGE Open, , vol. 12(1), pages 21582440221, February.
    19. Mei-Yin Lin, 2026. "Green innovation and financial stability: a panel threshold analysis," International Economics and Economic Policy, Springer, vol. 23(1), pages 1-26, February.
    20. Ketan Bhatt & Claudia Seabra & Jeetesh Kumar & Kumar Ashutosh & Sunil Kumar Kabia, 2024. "Tourism-Led Inclusive Growth in Emerging and Developing Economies: A Systematic Literature Review," SAGE Open, , vol. 14(2), pages 21582440241, June.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:riibaf:v:68:y:2024:i:c:s0275531923003239. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ribaf .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.