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Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies

The research objective is to assess the role of green financing and financial inclusion in developing a cleaner environment for macroeconomic stability in ASEAN economies. The study attempted to estimate the climate mitigation factor associated with a more sanitary environment between 2012 and 2019....

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Main Authors: Saydaliev, Hayot Berk, Chin, Lee
Format: Article
Published: Springer 2022
Online Access:http://psasir.upm.edu.my/id/eprint/103117/
https://link.springer.com/article/10.1007/s10644-022-09419-y
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spelling my.upm.eprints.1031172024-06-30T23:57:46Z http://psasir.upm.edu.my/id/eprint/103117/ Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies Saydaliev, Hayot Berk Chin, Lee The research objective is to assess the role of green financing and financial inclusion in developing a cleaner environment for macroeconomic stability in ASEAN economies. The study attempted to estimate the climate mitigation factor associated with a more sanitary environment between 2012 and 2019. Panel data analysis using the augmented Dicky–Fuller test, Phillip–Perron, and fully modified standard most minor square test provides long-term findings in panel data analysis. In addition, the vector error correction technique was also applied to infer study results. The findings indicate that climate change mitigation indicators have a significant impact on the gross domestic product of ASEAN economies. According to the data, a one percent rise in the green finance index results in a 0.321 percent increase in the amount of pollution removed from the environment. According to the research findings, environmental pollution must be decreased, and energy sources must be switched to more creative and ecologically friendly alternatives. Using study findings, several policy recommendations are offered and suggested for stakeholders for implementation. As per our best understanding, effective implementation of study findings and suggestions maximum chances are developing a cleaner environment and boosting macroeconomic stability in the ASEAN context. Springer 2022 Article PeerReviewed Saydaliev, Hayot Berk and Chin, Lee (2022) Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies. Economic Change and Restructuring, 56 (6). pp. 3839-3859. ISSN 1573-9414; ESSN: 1574-0277 https://link.springer.com/article/10.1007/s10644-022-09419-y 10.1007/s10644-022-09419-y
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
description The research objective is to assess the role of green financing and financial inclusion in developing a cleaner environment for macroeconomic stability in ASEAN economies. The study attempted to estimate the climate mitigation factor associated with a more sanitary environment between 2012 and 2019. Panel data analysis using the augmented Dicky–Fuller test, Phillip–Perron, and fully modified standard most minor square test provides long-term findings in panel data analysis. In addition, the vector error correction technique was also applied to infer study results. The findings indicate that climate change mitigation indicators have a significant impact on the gross domestic product of ASEAN economies. According to the data, a one percent rise in the green finance index results in a 0.321 percent increase in the amount of pollution removed from the environment. According to the research findings, environmental pollution must be decreased, and energy sources must be switched to more creative and ecologically friendly alternatives. Using study findings, several policy recommendations are offered and suggested for stakeholders for implementation. As per our best understanding, effective implementation of study findings and suggestions maximum chances are developing a cleaner environment and boosting macroeconomic stability in the ASEAN context.
format Article
author Saydaliev, Hayot Berk
Chin, Lee
spellingShingle Saydaliev, Hayot Berk
Chin, Lee
Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies
author_facet Saydaliev, Hayot Berk
Chin, Lee
author_sort Saydaliev, Hayot Berk
title Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies
title_short Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies
title_full Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies
title_fullStr Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies
title_full_unstemmed Role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of ASEAN economies
title_sort role of green financing and financial inclusion to develop the cleaner environment for macroeconomic stability: inter-temporal analysis of asean economies
publisher Springer
publishDate 2022
url http://psasir.upm.edu.my/id/eprint/103117/
https://link.springer.com/article/10.1007/s10644-022-09419-y
_version_ 1804067032044404736
score 13.211869

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