Nexus between green financial development, green technological innovation and environmental regulation in China. (March 2023)

• Record Type: Journal Article
• Authors: Hasan, Mohammad Maruf; Du, Fang
• Is Part Of: Renewable energy. Volume 204(2023)
• Page Start: 218
• Page End: 228
• Publication Date: 2023-03
• Subjects: Green financial development -- Green technological innovation -- Environmental regulation -- Climate change; Renewable energy sources -- Periodicals; Power resources -- Periodicals; Énergies renouvelables -- Périodiques; Ressources énergétiques -- Périodiques; 333.794
• DOI: 10.1016/j.renene.2022.12.095
• Languages: English
• ISSNs: 0960-1481

Abstract

Abstract: Sustainable development goals (SDGs) in developing markets to be achieved via the optimization of environmental and financial policy frameworks, it is necessary to comprehend how environmental restrictions affect the nexus between economic stability and biased technical innovation. Thus, the research delves into how green financial development, technological innovation, and environmental regulation play a role in China's pursuit of sustainable development. The assertions were validated using the Generalized Method of Moments estimate using 30 province panel data in mainland China from 1995 to 2020. As shown by the data significant contribution to climate change per person in China's provinces has grown by an average of 15.54%. Green financial development and green technological innovation impact China's sustainable development goals. The results of endogeneity and other robustness tests support the existence of a causal relationship. Green financial innovation and green technical innovation are essential approaches for achieving environmental sustainability. Empirical findings inform the formulation of policy implications leading to the maintenance of green financing, green technological innovation, and environmental regulation as drivers of sustainable growth in the Chinese economy. Highlights: Financial development, technological innovation and energy regulation is studied. We used GMM model to analyze the relationship among variables. Green technological innovation improved environmental regulations in China.