Green Investments and Economic Development: Insights from across the South Asian Countries
摘要
The economic systems of South Asia have grown steadily during the last few years. The region’s several climatic zones show the effects of climate change, despite its enormous riches in natural resources. The study intends to underscore the indispensable role of green investments in driving economic development within South Asian nations for the period 2000 to 2020, covering the nations such as India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and the Maldives. It stresses on the necessity of comprehensive policies that give resilience and sustainability top priority in the face of environmental concerns. South Asian countries promote economic growth along with aiding in efforts to reduce climate change and protect the environment for future generations by embracing green investments. Policymakers, business enterprises, and other stakeholders seeking to understand the complicated world of green investments in the South Asian setting will find this research to be a valuable resource for policy making. The study has considered the flow of investment to renewal energy as a proxy measure for the green investment and used life expectancy data to measure the social development. The economic development has been measured by using the GDP of South Asian countries. Panel data regression was employed to assess the impact of green investment on economic and social development. To ensure robustness, both fixed effect and random effect model were used. The findings of this article reveal a strong positive impact of green investment on both economic and social development.