Recently, green financing has become a popular technique for dealing with environmental issues. However, whether green financing is effective in addressing current global environmental issues remains to be seen since the green investment gap has been discovered to be rather sizable, with no certainty regarding how to fill it. The purpose of this study was to systematically analyze green finance in all of its forms, instruments, and measurements. Herein, we highlighted overall research trends in an effort to enhance green finance for inclusive green investment, as well as examined the progress needed to fill the green finance gap. This study also provides information on which authors, countries, publishers, and journals are contributing most to green finance. The methodological approach used in many reviewed papers was determined as a benchmark for those authors interested in green finance. Moreover, this study critically analyzes and summarizes 146 relevant studies. The results of our review study imply that the green financing gap is frequently observed because of low finance levels, poor green project selection/management, risk and return trade-off, and a lack of analytical tools and expertise in identifying and assessing green project risks. More specifically, regulatory issues have been observed as the main challenge in enhancing green finance. Therefore, we propose further studies to be conducted on how to enhance green finance for green investment that could deliberately affect green growth. Simultaneously, we noted what incentives could initiate private investors to make green investments, and what additional green financing methods should be introduced to fill the financing gap. Finally, this study seeks to have an impact in assisting future studies to consider the status of each country in terms of green finance mobilization and capital contribution by sharing the specific experience of that country and what lessons could be learned from that country.
This study was carried out to investigate the impact of the Ethiopian exchange rate and its volatility on international trade. Trade openness was used as a proxy for international trade in the study. The study’s general objective was to investigate how international trade responds to exchange rate levels and volatility. The study relied solely on secondary time-series data spanning the years 1992 to 2019. The Autoregressive Distributive Lag (ARDL) model was used in the study to investigate the long-term relationship between exchange rate level, volatility, and international trade performance. An error correction model was used to estimate the variables in the short term. To conduct the regression analysis, Foreign Direct Investment (FDI), Gross Domestic Product (GDP), and inflation were used as control variables. The finding of the study implies that: in the short term, the exchange rate level was found to negatively and significantly influence international trade. However, exchange rate volatility positively and significantly affects international trade both in the short and in the long term. In addition, gross domestic product, foreign direct investment, and inflation have a positive effect on international trade both in the short term and long term. This finding lends support to the J-curve effects, which suggest an initial loss in the short term followed by a dramatic gain in the long term. However, the findings of this study suggest that there is no significant gain from international trade to justify currency depreciation in Ethiopia.
In recent years, green finance has become a popular method for dealing with environmental issues. However, it remains to be seen whether green financing is effective in addressing current global environmental issues. In this article, we, therefore, analyze the diffusion patterns of green finance publications in the Global South and Global North to identify which section of the globe is under-researched from this perspective. The study tried to highlight the overall trends of research publications on green finance, continent, most contributing authors, countries, and journals. The study used a bibliometric approach with the help of R studio software. The Scopus database was used for extracting the resources and 522 documents utilized in this bibliometric analysis. The result demonstrates that the diffusion of green finance is more common in the Global North than in the Global South. However, the number of scientific studies produced over time, the number of active authors, and affiliations of the Global South have contributed more than the Global North. More specifically, at the continental level, Asia and the Pacific are playing a lion’s share in providing scientific research publications on the green-finance-related issue. Meanwhile, the Arab states and Africa are the lowest contributing continent. China has the highest number of publications worldwide. However, this reality may be different if another approach (per capita contribution) is used to investigate the issue of green finance. Hence, we call for future studies to consider this fact in investigating the issue of green finance across the world. Furthermore, the study proposes further studies to be conducted on what are the factors that drive the Global South to lead. Finally, it is also better if the future studies take into account the status of each country in terms of green finance mobilization and capital contribution to share the specific experience of that country and lessons taken from that country.
The objective of this study was to examine the effect of monetary policy and private investment on green finance in the case of Hungary. The study used an explanatory research design and a quantitative research approach. Quarterly secondary time series data over 8 years (2013–2020) were utilized. More specifically, the study used Johnson co-integration test and vector error correction model to investigate the long and short-run relationship among variables. The study’s findings imply that monetary policy, as measured by interest rates and the broad money supply, has a mixed effect on the level of green financing. Interest rates, in particular, have a negative and significant relationship with green finance in both the long and short run. However, a broad money supply has a positive but insignificant relationship with green finance in the long run. Private investment has a positive and significant relationship with green financing in both the long and short run. The study also used inward and outward foreign direct investment, and greenhouse gas as a control variable of the study. The study finding implies that inward foreign direct investment has a positive and significant relationship with green financing in both the long and short run. On the other hand, outward foreign direct investment and the level of greenhouse gas have a negative and significant relationship with green finance in both the long and short run. The study also discovered that over time series, disturbance in domestic private investment was the most determinant factor in forecast error variance of green financing. In addition, the result of document analysis shows that the majority of Hungarian credit institutions are dealing with their corporate strategy rather than their sustainability strategy. Hence, progressive approaches are needed from the credit institution to frame their strategy under the concept of sustainable development goals. The finding of this study will contribute to the existing literature on the study area, provide suggestions on green finance and green monetary policy approaches, provide implications on key stakeholders of green financing, as well as the experience of different economies. The study advises central banks, credit institutions, and regulatory authorities to consider both neoliberal and reformist approaches of green finance and green monetary policies in aid to increase green investment.
This paper aimed to highlight the possibilities to bridge the audit expectation gap between external auditors and stakeholders. Design/Type of Research: This paper is a review study based on the analysis of previous studies, reports and publications that are related to audit expectation gap, external audit profession and public perceptions towards the external auditors. Limitations/Implications: The paper focused on audit expectation gap in the field of accounting and auditing. Conclusion Conclusions are summarized as the following: o The audit expectation gap can be bridged through much more experiences, training, effort for auditors, and much more educating for financial statements' users about the role and nature of audit profession. o Audit expectation gap could be bridged between external auditors and stakeholders, but couldn't be eliminated completely. o Better communication between the auditors and the society may help reduce the gap. Recommendations There are some recommendations that could narrow the audit gap such as increase the awareness of public about the auditors' responsibilities and duties, and increase the practitioners' (external auditors) skills and abilities through education and training; increase the quality of audit standards.
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