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Public spending and green economic growth in BRI region: Mediating role of green finance
Energy Policy ( IF 9 ) Pub Date : 2021-03-31 , DOI: 10.1016/j.enpol.2021.112256
Dongyang Zhang , Muhammad Mohsin , Abdul Khaliq Rasheed , Youngho Chang , Farhad Taghizadeh-Hesary

Generally, public spending on education, research, and development (R&D) is perceived to impact the economy and sustainability positively; however, such notion lacks evidence, particularly in Belt and Road Initiative (BRI) member countries. In this study, panel data of BRI member countries from 2008 to 2018 is analysed using the generalized method of moments (GMM) method and data envelopement analysis (DEA) to assess the relationship between public spending on R&D and green economic growth and energy efficiency. The study found a fluctuating green economic growth indicator during the research period attributed to the non-serious nature of government policies. The findings reveal that the GMM method confirms both composition and technique effects in the entire sample. Nonetheless, the result of the sub-sample showed a heterogeneous effect on high GDP per capita countries. Moreover, the study shows that public spending on human resources and R&D of green energy technologies prompts a sustainable green economy through labour and technology-oriented production activities and different effects in different countries.



中文翻译:

``一带一路''地区公共支出与绿色经济增长:绿色金融的中介作用

通常,人们认为用于教育,研究与发展(R&D)的公共支出会对经济和可持续性产生积极影响;但是,这种概念缺乏证据,特别是在“一带一路”倡议(BRI)成员国中。在这项研究中,使用广义矩方法(GMM)和数据包络分析(DEA)分析了2008年至2018年BRI成员国的面板数据,以评估研发方面的公共支出与绿色经济增长和能源效率之间的关系。该研究发现,在研究期间,绿色经济增长指标波动不定,这归因于政府政策的非严肃性质。研究结果表明,GMM方法可以证实整个样品中的成分和技术效果。尽管如此,该子样本的结果显示了对高人均GDP的国家的不同影响。此外,研究表明,人力资源和绿色能源技术研发方面的公共支出通过以劳动和技术为导向的生产活动以及不同国家的不同影响,促进了可持续绿色经济的发展。

更新日期:2021-03-31
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