Ways to promote intra-regional trade and investment in Central Asia to boost the green recovery

Abstract

The economic recession caused by the restrictions on the spread of the Coronavirus disrupted the economic life of many countries. The primary purpose of the paper is to measure the impacts of intra-regional trade and investment on the green recovery of five Central Asian economies over 2010–2021 through employing annual data and the panel co-integration approach. The results confirmed that the degree of green trade openness positively and significantly affects the green recovery. The estimated coefficient of direct foreign investment is negative. The patent coefficient is not statistically significant, and the official exchange rate has a positive effect. Financial development has a positive and significant coefficient. The paper has several policy implications, such as enhancing green FDI (Foreign Direct Investment), supporting green innovation, and promoting green trade liberalism for scholars and policymakers.

Regional Integration Efforts and Political Cooperation of East African Community: A Case of Rwanda

“…This aligns with the findings of Blavasciunaite et al (2020), highlighting the significant impact of trade balance management on economic growth. In contrast, Wu et al's (2023) research on Central Asia accentuates the positive influence of green trade liberalism on the region's green economic 2023) study underscored the importance of political will and commitment for successful regional integration, Wu et al (2023) stressed the role of financial development in promoting green recovery. These collective findings signify the interconnectedness of economic and political dimensions in regional cooperation, urging policymakers to prioritize sustainable economic strategies alongside effective political leadership.…”

“…The research conducted by Wu et al (2023), Blavasciunaite et al (2020), Ntara (2023), and Lwesya (2022) offers valuable insights into various aspects of economic initiatives and policy harmonization within the contexts they examined. However, these studies primarily emphasize the economic dimensions of trade, investment, and regulatory alignment, leaving a research gap concerning the critical dependent variable of political cooperation.…”