Does environmental psychology matter: role of green finance and government spending for sustainable development

Abstract

Over 30% of the global GDP and 60% of the worldwide population are involved in the Belt and Road Initiative (BRI), making it one of the greatest development projects in the world. If infrastructure developments in BRI countries are successful, economic growth in those nations will increase dramatically. Using data from 2005 to 2020, this research examines the relationships between environmental psychology, green finance, and sustainable development and variables such as GDP per capita and its square, green financing, government expenditure, and human capital in 57 strategically chosen BRI economies. Economists used cutting-edge techniques that take into account multiple variables at once in their analysis, such as cross-sectional dependence, unit root testing, co-integration analysis, IFE estimation, dynamic panel data (DCCE), and generalized method of moments (system GMM). The findings indicate that green financing, government spending, and GDP per capita squared reduce emissions of carbon dioxide. In this analysis, the level of human capital is similar to GDP per capita in its beneficial effect on carbon emissions. Carbon emissions are negatively impacted by government spending, which has a minor effect on GDP per capita, green financing, and human capital. Using the results of this study, the authors offer recommendations for how a country can reduce its carbon output.

Coupling and interaction between science and technology finance and green development: Based on coupling coordination degree model and panel vector autoregression model

“…In order to study the interaction between science and technology finance, green development and their coupling and coordination levels, this paper constructs a panel vector autoregression model (PVAR) for analysis. The PVAR model does not need to set the causal relationship between variables and distinguish between endogenous and exogenous variables in advance but regards all variables as endogenous variables and then analyzes the interaction between each variable and the lagging term (Feng and Yang, 2023;Sharif et al, 2023). The model is set in the following formula.…”

The Role of Education and Green Innovation in Green Transition: Advancing the United Nations Agenda on Sustainable Development

“…In addition, these subsidies motivate enterprises to perform science and technology activities to achieve policy goals [53]. Feng et al [54] focus on vegetation subsidies and explain that despite local degradation in some areas, China is experiencing large-scale greening. Yu and Haung [55] apply econometric techniques to discourse local government incentives in China and check how these affect governing practices and the environment.…”

“…Similarly, Feng and Yang [54] evaluate that government spending has a minor impact on human capital. However, it negatively impacts carbon emissions.…”