Green finance instruments and empowering sustainability in East Asian economies
Abstract This academic research delves into the effects of the sustainable finance market on the sustainability of the industrial and agricultural sectors across six East Asian economies, utilizing the cross-sectional augmented autoregressive distributed lag (CS-ARDL) model. With East Asia’s heighte...
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| Format: | Article |
| Language: | English |
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Springer Nature
2025-01-01
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| Series: | Humanities & Social Sciences Communications |
| Online Access: | https://doi.org/10.1057/s41599-024-04324-3 |
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| author | Yarong Shi Bo Yang |
| author_facet | Yarong Shi Bo Yang |
| author_sort | Yarong Shi |
| collection | DOAJ |
| description | Abstract This academic research delves into the effects of the sustainable finance market on the sustainability of the industrial and agricultural sectors across six East Asian economies, utilizing the cross-sectional augmented autoregressive distributed lag (CS-ARDL) model. With East Asia’s heightened vulnerability to climate change, the region exhibits significant potential for sustainability initiatives. Analyzing data from 2000 to 2020, the study uncovers robust correlations between the value of the green finance market and sustainable development in both agriculture and industry. A marginal 1% rise in the green finance market value results in substantial improvements in sustainable development, particularly within the industrial sector. Conversely, CO2 emissions, GDP, and CPI are found to have detrimental effects on sustainability, highlighting the necessity for balanced economic growth and environmental stewardship. In contrast, variables such as the official exchange rate and an educated populace emerge as pivotal drivers of sustainability, underscoring the importance of policy interventions and educational initiatives in fostering environmental responsibility. The policy implications for East Asian economies include the strategic allocation of resources, enhanced education and awareness programs, and the implementation of targeted policies to address environmental challenges. |
| format | Article |
| id | doaj-art-05e2d84c48244c2fa4d0d34b62193fec |
| institution | Kabale University |
| issn | 2662-9992 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Springer Nature |
| record_format | Article |
| series | Humanities & Social Sciences Communications |
| spelling | doaj-art-05e2d84c48244c2fa4d0d34b62193fec2025-01-05T12:11:35ZengSpringer NatureHumanities & Social Sciences Communications2662-99922025-01-011211910.1057/s41599-024-04324-3Green finance instruments and empowering sustainability in East Asian economiesYarong Shi0Bo Yang1School of Finance, Lanzhou University of Finance and EconomicsSchool of Finance, Lanzhou University of Finance and EconomicsAbstract This academic research delves into the effects of the sustainable finance market on the sustainability of the industrial and agricultural sectors across six East Asian economies, utilizing the cross-sectional augmented autoregressive distributed lag (CS-ARDL) model. With East Asia’s heightened vulnerability to climate change, the region exhibits significant potential for sustainability initiatives. Analyzing data from 2000 to 2020, the study uncovers robust correlations between the value of the green finance market and sustainable development in both agriculture and industry. A marginal 1% rise in the green finance market value results in substantial improvements in sustainable development, particularly within the industrial sector. Conversely, CO2 emissions, GDP, and CPI are found to have detrimental effects on sustainability, highlighting the necessity for balanced economic growth and environmental stewardship. In contrast, variables such as the official exchange rate and an educated populace emerge as pivotal drivers of sustainability, underscoring the importance of policy interventions and educational initiatives in fostering environmental responsibility. The policy implications for East Asian economies include the strategic allocation of resources, enhanced education and awareness programs, and the implementation of targeted policies to address environmental challenges.https://doi.org/10.1057/s41599-024-04324-3 |
| spellingShingle | Yarong Shi Bo Yang Green finance instruments and empowering sustainability in East Asian economies Humanities & Social Sciences Communications |
| title | Green finance instruments and empowering sustainability in East Asian economies |
| title_full | Green finance instruments and empowering sustainability in East Asian economies |
| title_fullStr | Green finance instruments and empowering sustainability in East Asian economies |
| title_full_unstemmed | Green finance instruments and empowering sustainability in East Asian economies |
| title_short | Green finance instruments and empowering sustainability in East Asian economies |
| title_sort | green finance instruments and empowering sustainability in east asian economies |
| url | https://doi.org/10.1057/s41599-024-04324-3 |
| work_keys_str_mv | AT yarongshi greenfinanceinstrumentsandempoweringsustainabilityineastasianeconomies AT boyang greenfinanceinstrumentsandempoweringsustainabilityineastasianeconomies |