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author:

Wei, Zhao (Wei, Zhao.) [1] | Huang, Lihua (Huang, Lihua.) [2]

Indexed by:

SCIE

Abstract:

This paper examined the impact of green finance and financial technology on economic growth by utilizing statistics between 1990 to 2000 gathered from 50 US states and regions. A two-step generalized GMM was used to analyze the link between green finance, financial technology, and continued economic growth using panel regression analysis. We found that the US green finance sector had grown significantly and such growth was accompanied by an increase in the usage of non-combustible energy and an advancement in the green finance economic forum. This research concludes that green financing has a beneficial impact on all three components of continued financial development. There is a favorable influence of financial technology on green finance in environmental and economic dimensions, although the link between green banking and investment performance is only somewhat affected by technology. When total emissions increased, non-oil energy usage did not grow and initiatives for renewable energy initiatives were lacking. As a result, there was a decline in the growth of green finance. Green funding and total emissions had a significant impact on the US non-combustible energy usage as did explicit policy changes. The recommendation is also canvassed to strengthen the adoption of green financing policies, increase the use of non-combustible energy, and build an alternative energy economy. It also offers three policy recommendations for policymakers, namely, to improve the integration of banking technology with green finance, develop a corporate environmental approach to manage and control state authorities in increasing green finance productivity, and generate medium- and long-term favorable steps to support green finance in the financial market.

Keyword:

CO2 emission Economic growth Energy consumption Green finance Non-combustible fuel Technology

Community:

  • [ 1 ] [Wei, Zhao]Fuzhou Inst Technol, Sch Business, Fuzhou 350506, Fujian, Peoples R China
  • [ 2 ] [Huang, Lihua]Fuzhou Univ Int Studies & Trade, Sch Econ & Management, Fuzhou 350202, Fujian, Peoples R China
  • [ 3 ] [Huang, Lihua]Fuzhou Univ Int Studies & Trade, Res Ctr Open Econ & Trade, Fuzhou 350202, Peoples R China

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Source :

ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH

ISSN: 0944-1344

Year: 2022

Issue: 48

Volume: 29

Page: 73365-73381

5 . 8

JCR@2022

0 . 0 0 0

JCR@2023

ESI Discipline: ENVIRONMENT/ECOLOGY;

ESI HC Threshold:64

JCR Journal Grade:1

CAS Journal Grade:3

Cited Count:

WoS CC Cited Count: 3

SCOPUS Cited Count: 4

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 1

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