RETRACTED ARTICLE: Greening the bottom line: navigating legal and financial dimensions of energy digital transition in the modern economy

The notion of energy digital transformation, considered a groundbreaking and sustainable paradigm, has ignited scholarly debates. This study, covering the period from 2000 to 2021, delves into the intricate interplay among legal efficiency, financial development, and energy digital transformation. Employing the dynamic GMM (Generalized Method of Moments) approach, the research reveals compelling insights. A 1% increase in the good governance index corresponds to an approximate 0.57% rise in the volume of smart grid imports. Similarly, a 1% increase in the financial development index is associated with an approximate 0.26% increase in smart grid imports. Furthermore, a 1% increase in gross domestic product correlates with an approximate 0.17% growth in smart grid imports. Conversely, a 1% increase in energy intensity leads to a nearly 0.14% decrease in smart grid imports. The policy implications derived from this study emphasize the importance of directing funds toward smart grid and renewable energy projects.