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Public spending and green economic growth in BRI region: Mediating role of green finance

Zhang, Dongyang, Mohsin, Muhammad, Rasheed, Abdul Khaliq, Chang, Youngho, Taghizadeh-Hesary, Farhad·2021·Energy Policy
DOI 10.1016/j.enpol.2021.112256
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Abstract

Abstract Generally, public spending on education, research, and development (RD however, such notion lacks evidence, particularly in Belt and Road Initiative (BRI) member countries. In this study, panel data of BRI member countries from 2008 to 2018 is analysed using the generalized method of moments (GMM) method and data envelopement analysis (DEA) to assess the relationship between public spending on R&D and green economic growth and energy efficiency. The study found a fluctuating green economic growth indicator during the research period attributed to the non-serious nature of government policies. The findings reveal that the GMM method confirms both composition and technique effects in the entire sample. Nonetheless, the result of the sub-sample showed a heterogeneous effect on high GDP per capita countries. Moreover, the study shows that public spending on human resources and R&D of green energy technologies prompts a sustainable green economy through labour and technology-oriented production activities and different effects in different countries.

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Metadata

Authors
Zhang, D., Mohsin, M., Rasheed, A. K., Chang, Y., & Taghizadeh-Hesary, F.
Venue
Energy Policy
Publisher
Elsevier BV
Published
2021-06
Volume
153
Pages
112256
ISSN
0301-4215 (ISSN-L)
DOI
10.1016/j.enpol.2021.112256
OpenAlex
W3152140428
Cited by
781
References
2
FWCI
113.23
Type
journal article
Language
en
Open access
closed
Licence
Funders
Government of Japan Ministry of Education Culture Sports Science and Technology

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