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Examining the bidirectional nexus between financial development and green growth: International evidence through the roles of human capital and education expenditure

Ngo, Thanh; Trinh, Hai Hong; Haouas, Ilham; Ullah, Subhan

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Authors

Thanh Ngo

Hai Hong Trinh

Ilham Haouas

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SUBHAN ULLAH SUBHAN.ULLAH@NOTTINGHAM.AC.UK
Associate Professor in Accounting



Abstract

In the context of the 2030 Agenda for Sustainable Development by the United Nations, the functionality of financial development is undeniable in the wider economy toward Sustainable Development Goals (SDGs). Using novel panel data of 36 countries over the last decades, the study sheds light on the bi-directional nexus between financial development and green growth where human capital and education expenditure present their central roles in sustainable development. The study provides critical findings to the existing literature on climate change, environment, and sustainability. Following the empirical findings, we provide important insights to regulators, policy makers, and organizations in investigating the substantial contributions of financial development including financial markets and financial institutions where their accessibility, depth, and efficiency need a thorough consideration toward SDGs and mitigating climate change impacts worldwide. Apart from using the multidimensional proxies, the empirical findings are validated by a set of econometric approaches.

Journal Article Type Article
Acceptance Date Aug 17, 2022
Online Publication Date Sep 5, 2022
Publication Date Dec 1, 2022
Deposit Date Sep 7, 2022
Publicly Available Date Mar 6, 2024
Journal Resources Policy
Print ISSN 0301-4207
Electronic ISSN 1873-7641
Publisher Elsevier BV
Peer Reviewed Peer Reviewed
Volume 79
Article Number 102964
DOI https://doi.org/10.1016/j.resourpol.2022.102964
Keywords Law; Management, Monitoring, Policy and Law; Economics and Econometrics; Sociology and Political Science
Public URL https://nottingham-repository.worktribe.com/output/10913020
Publisher URL https://www.sciencedirect.com/science/article/pii/S030142072200407X?via%3Dihub

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