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Green investment and its influence on green growth in high polluted Asian economies: Do financial markets and institutions matter?

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  • Yunqian Mo
  • Sana Ullah
  • Ilhan Ozturk

Abstract

The notion of green growth has occurred as a leading policy response to environmental pollution. This study explores the dynamic impacts of green investment, financial institutions & markets on green growth based on a time series data set comprised of four high polluted Asian countries from 1995 to 2019. We found several important short and long-run results from the ARDL bounds testing approach. First, green investment has a positive long-run effect on green growth in China, India, and Russia. Second, financial institutions have positive long-run effects on green growth in China, India, and Japan; but financial markets improve only in China and Russia. The findings also propose that internet users and R&D foster green growth in mostly high polluted Asian countries. Thus, our findings offer some implications for high polluted Asian countries to stimulate green growth in the future.

Suggested Citation

  • Yunqian Mo & Sana Ullah & Ilhan Ozturk, 2023. "Green investment and its influence on green growth in high polluted Asian economies: Do financial markets and institutions matter?," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 36(2), pages 2140302-214, July.
    • Handle: RePEc:taf:reroxx:v:36:y:2023:i:2:p:2140302
    DOI: 10.1080/1331677X.2022.2140302
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