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Role of collaborative governance in unlocking private investment in sustainable projects

Author

Listed:
  • Yiran Bai

    (Lanzhou University
    Lanzhou University)

  • Chunxian Lu

    (Lanzhou University)

  • Ximiao Dong

    (Lanzhou University
    Lanzhou University)

  • Yinan Li

    (Lanzhou University
    Lanzhou University)

Abstract

This scholarly investigation scrutinizes the involvement of the private sector in environmentally sustainable projects, employing the cross-sectional autoregressive distributed lag methodology on yearly data spanning from 2000 to 2020 across 11 low and lower-middle-income Asian nations. It specifically assesses the influence of the good governance index. Findings indicate a notable correlation, where a 1% enhancement in the index corresponds to a 0.34% increase in private engagement in green projects in the short term and a 0.64% increase in the long term. The study underscores the significance of economic stability; a 1% escalation in uncertainty leads to a 0.56% short term and 0.73% long-term reduction in private participation. It underscores the driving role of gross domestic product growth and the proliferation of small and medium-sized enterprises, emphasizing the necessity for tailored financial instruments to stimulate private investment in green projects. Moreover, it explores practical policy avenues such as e-government services, information and communication technology-driven digital transformation, sustainable corporate governance, and issuance of state-backed green bonds to foster private-sector participation in eco-friendly initiatives. Future research avenues encompass examining the repercussions of the pandemic on private green investments and evaluating the efficacy of the public-private partnership model in green projects across these economies.

Suggested Citation

  • Yiran Bai & Chunxian Lu & Ximiao Dong & Yinan Li, 2024. "Role of collaborative governance in unlocking private investment in sustainable projects," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-9, December.
    • Handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-024-03175-2
    DOI: 10.1057/s41599-024-03175-2
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