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<p>In the pursuit of inclusive green growth both advanced and emerging nations have adopted a green growth approach that seeks to harmonize economic development with environmental sustainability, fostering social inclusivity. This study delves into the notion of inclusive green growth, investigating the impact of technological innovation and financial development on it, within the context of Asia and its all-sub-regions (Central, Western, Eastern, Southeast, and South Asia). The study employs a balanced panel dataset covering the time period from 2000 to 2022, which includes 23 chosen Asian countries. The research utilizes random effects and fixed effects model for estimation purpose and uses the system GMM to boost up the robustness of findings. The results of the research disclose that financial development has appeared as a significant and positive indicator of inclusive green growth in overall Asia and its sub-regions excluding Central Asia. Moreover, in overall Asia and Western Asia, technological innovation has an adverse impact on inclusive green growth, while insignificance of technological innovation is found in four regions (Southeast, Central, Eastern, South Asia). After robustness analyses, all the variables besides economic freedom and institutional quality, uphold statistically significant long-run impact on inclusive green growth. The research suggests that regions and nations must adopt tailored policies considering their specific regional needs and environmental conditions to accomplish inclusive green growth goal. For Asian countries, it is recommended to hearten the effective usage of technological expansions by enhancing renewable energy, minimizing waste, promoting recycling, investing in green infrastructure, preserving water and improving digital approachability to attain inclusive green growth. Furthermore, implementing modifications within the financial sector is essential to increase the efficiency and steadiness of financial systems. This involves enhancing regulatory strategies and bolstering monitoring of financial institutes.</p>

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Econometric insights into inclusive green growth, technological innovation and financial development dynamics in Asia: aggregated and disaggregated data analysis

  • 期刊论文

  • 发表日期：

    2025年5月9日

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  • Samreen Khurshid,
  • Asma Awan,
  • Shabbir Ahmad

摘要

In the pursuit of inclusive green growth both advanced and emerging nations have adopted a green growth approach that seeks to harmonize economic development with environmental sustainability, fostering social inclusivity. This study delves into the notion of inclusive green growth, investigating the impact of technological innovation and financial development on it, within the context of Asia and its all-sub-regions (Central, Western, Eastern, Southeast, and South Asia). The study employs a balanced panel dataset covering the time period from 2000 to 2022, which includes 23 chosen Asian countries. The research utilizes random effects and fixed effects model for estimation purpose and uses the system GMM to boost up the robustness of findings. The results of the research disclose that financial development has appeared as a significant and positive indicator of inclusive green growth in overall Asia and its sub-regions excluding Central Asia. Moreover, in overall Asia and Western Asia, technological innovation has an adverse impact on inclusive green growth, while insignificance of technological innovation is found in four regions (Southeast, Central, Eastern, South Asia). After robustness analyses, all the variables besides economic freedom and institutional quality, uphold statistically significant long-run impact on inclusive green growth. The research suggests that regions and nations must adopt tailored policies considering their specific regional needs and environmental conditions to accomplish inclusive green growth goal. For Asian countries, it is recommended to hearten the effective usage of technological expansions by enhancing renewable energy, minimizing waste, promoting recycling, investing in green infrastructure, preserving water and improving digital approachability to attain inclusive green growth. Furthermore, implementing modifications within the financial sector is essential to increase the efficiency and steadiness of financial systems. This involves enhancing regulatory strategies and bolstering monitoring of financial institutes.