How does green investment respond to ICT and financial development?

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE Borsa Istanbul Review Pub Date : 2024-11-01 DOI:10.1016/j.bir.2024.06.003

Rongjia Chen , Muhammad Tariq Majeed

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Abstract

Green investment has become the most effective option to support the efforts to mitigate worldwide climate change. Due to the efficacy of green investment in tackling climate change and global warming, researchers are searching for the factors that can boost green investment. Therefore, this analysis aims to investigate the efficacy of information and communications technology (ICT) and financial development in promoting green investment in the most polluted economies. The study analyzes aggregate data from the most polluted economies using the 2SLS, GMM, and instrumental variables quantile regression estimators. In addition, we also perform regional analysis by disaggregating the data into four regions: Asia, America, Africa, and Europe. The results reveal that ICT, financial development, financial institutions, and financial markets boost green investment in the most polluted economies. However, the regional analysis confirms the favorable influence of ICT on green investment in all the regions, while financial development boosts green investment in all the regions except Africa; financial institutions and financial market development promote green investment in America and Europe. Therefore, we suggest that policymakers must increase their reliance on ICT and the financial sector while designing a policy to promote green investment.

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绿色投资如何应对信息通信技术和金融发展？

绿色投资已成为支持减缓全球气候变化的最有效选择。鉴于绿色投资在应对气候变化和全球变暖方面的功效，研究人员正在寻找能够促进绿色投资的因素。因此，本分析旨在研究信息与通信技术（ICT）和金融发展在促进污染最严重经济体的绿色投资方面的功效。本研究使用 2SLS、GMM 和工具变量量化回归估计法分析了污染最严重经济体的总体数据。此外，我们还将数据分解为四个地区进行区域分析：亚洲、美洲、非洲和欧洲。结果显示，信息和通信技术、金融发展、金融机构和金融市场促进了污染最严重经济体的绿色投资。然而，区域分析证实了信息和通信技术对所有地区绿色投资的有利影响，而金融发展促进了除非洲以外所有地区的绿色投资；金融机构和金融市场的发展促进了美洲和欧洲的绿色投资。因此，我们建议政策制定者在制定促进绿色投资的政策时，必须加强对信息和通信技术以及金融部门的依赖。

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来源期刊

Borsa Istanbul Review Multiple-

CiteScore

7.60

自引率

3.80%

发文量

130

审稿时长

26 days

期刊介绍： Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations