气候变化领域集成服务门户(CCPortal): Clean energy investment and financial development as determinants of environment and sustainable economic growth: evidence from China

CCPortal

DOI	10.1007/s11356-021-16832-9
	Clean energy investment and financial development as determinants of environment and sustainable economic growth: evidence from China
	Zahoor, Zahid; Khan, Irfan; Hou, Fujun
发表日期	2022
ISSN	0944-1344
EISSN	1614-7499
起始页码	16006
结束页码	16016
卷号	29 期号:11
英文摘要	Environmental sustainability has become one of the most common phrases in discussions about climate change. This study examines the impact of clean energy investment and financial development on environmental sustainability and China's economic growth, using manufacturing value-added and urbanization as moderator variables from 1970 to 2016. We used advanced econometric methodologies for empirical estimations, used structural break unit root tests, fully modified least square, dynamic least square, and robust least square multiple regressions for long-run estimates. Overall, the results determine that clean energy investment is negatively associated with CO2 emissions and ecological footprint while positively associated with China's economic growth. Financial development, manufacturing value-added, and urbanization are positively associated with CO2 emissions, ecological footprint, and China's economic growth. Moreover, clean energy investment improves environmental sustainability at the expense of economic growth. Financial development, manufacturing value-added, and urbanization encourage economic growth at the expense of environmental sustainability. We argued that the local governments play a critical role in lifting the outstanding barriers to cleaner energy investment, addressing disincentives, including pricing carbon dioxide emissions, reforming inefficient nonrenewable fossil fuel subsidies, and addressing regulatory and market rigidities that can undesirably affect the attractiveness of clean energy investment. Policymakers are suggested to encourage green finance strategy for the financial sector to broader sustainable development objectives. At the heart of green manufacturing, industrialization policies are needed to integrate diverse intentions, like inclusive growth, environmental protection, and productivity through a wider range of economic, social, and environmental policy frameworks suitable for decoupling growth from social and environmental unsustainability.
英文关键词	Clean energy investment; Financial development; Economic growth; Environmental sustainability; China
语种	英语
WOS研究方向	Environmental Sciences
WOS类目	Science Citation Index Expanded (SCI-EXPANDED) ; Social Science Citation Index (SSCI)
WOS记录号	WOS:000706053300001
来源期刊	ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/281529
作者单位	Beijing Institute of Technology
推荐引用方式 GB/T 7714	Zahoor, Zahid,Khan, Irfan,Hou, Fujun. Clean energy investment and financial development as determinants of environment and sustainable economic growth: evidence from China[J],2022,29(11).
APA	Zahoor, Zahid,Khan, Irfan,&Hou, Fujun.(2022).Clean energy investment and financial development as determinants of environment and sustainable economic growth: evidence from China.ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH,29(11).
MLA	Zahoor, Zahid,et al."Clean energy investment and financial development as determinants of environment and sustainable economic growth: evidence from China".ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH 29.11(2022).