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•Examining relationship between Renewable Energy, Green Economic Growth, and Trade Openness in G-20.•The panel data of G-20 countries over the period from 1990 to 2018.•Dynamic ...simulated ARDL method for investigating the short run and long run association.•Economic growth and economic globalization have impact on both the short and long run-on renewable energy.•Trade openness is not influenced by renewable energy in both the short and long run.
The nexus between renewable energy and green economic growth is multifaceted and promising. By transitioning to renewable energy sources, countries can simultaneously address climate change, promote sustainable development, and stimulate economic growth. The past few decades have seen increasing environmental hazards because of the ecological pressure exerted by humanity. Attaining sustainable development without harming the environment has immense importance in recent strands of literature. Thus, we employ novel dynamic ARDL simulations to explore the significance of the renewable energy and green economic growth nexus in both the short and long run, for large developed countries. Our findings indicate that green economic growth and economic globalization significantly enhance renewable energy consumption, and there is a long-term cointegration among the variables. The study further reveals that emissions are considerable despite the adoption of renewable energy in these highly industrialized countries. By prioritizing the transition to renewable energy, creating green jobs, enhancing energy efficiency, fostering innovation and research, and strengthening international cooperation, G-20 countries can lay the foundation for a sustainable and prosperous future. It is imperative that these policy implications are implemented effectively to address the urgent challenges of climate change and promote green economic growth.
With the arbitrariness of family business decision-making and the complexity of interests become increasingly prominent, the transformation and innovation of family business are imminent. Under the ...above background,
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analysis of data from 259 valid questionnaires from more than ten family businesses in China as a sample and with the help of the SPSS and AMOS, this study explored the impacts of identification on creativity of the family business as well as the mediating role of family business support by constructing a mediating model. The results show that the employee’s identification has a positive impact on the creativity of the family business. Besides, identification has a positive impact on family business support and family business support has a partial mediating role between identification and family business creativity. Especially, the emotional support does not have a mediating role, whereas the instrumental support has a complete mediating role between identification and family business creativity.
Land finance is an important means for local governments to develop a regional economy. Studying the impact of land finance on green economic growth has important practical significance for achieving ...high-quality economic growth in China. This article uses panel data from 283 prefecture-level cities in China to construct a spatial econometric model to study the impact of land finance on green economic growth. The research results show that land finance has a significant inhibitory effect on the growth of the green economy. The direct, indirect and total effects of land finance on green economic growth are all significantly negative, which indicates that the local government’s method of making up for the financial funding gap through land finance not only inhibited the green economic growth in the region, but also had an impact on neighboring areas. Local government competition has a regulating effect on the impact of land finance and urban green economic growth, and government competition has actually strengthened the inhibitory effect of land finance on green economic growth. The above conclusions can provide useful practical guidance for optimizing the development of land finance, standardizing local government behavior, and promoting green economic growth.
Digital technology provided a new driver for the rapid recovery of the global economy in the post-COVID-19 era. This study examined how digital financing affected regional economic resilience. First, ...this study constructs a multidimensional regional economic resilience evaluation system and measures the economic resilience levels of 283 Chinese cities for 2012-2021–using the entropy value method. Then, panel data, mediation effect, and threshold effect models were constructed to empirically test the impact mechanism of digital finance (DF) on regional economic resilience. The results show that DF improves regional economic resilience, which is more evident in central and western cities. Capital allocation efficiency, regional innovation, and regional consumption are effective paths, whereas DF affects regional economic resilience by enhancing capital allocation efficiency, strengthening regional innovation capacity, and promoting resident consumption. It is worth noting that excessive financialization can mask the role of DF. These conclusions provide new evidence clarifying the role of DF in promoting rapid economic recovery in the post-COVID-19 era.
A total of 156 Granger causal networks of stock markets are constructed by using the Granger causality test and time series sliding window based on stock index data of 34 major stock markets in the ...world from 2004 to 2017. The topological structures and evolution characteristics of the Granger causal networks are analyzed from the perspective of complex network theory. Empirical results demonstrate that the network topology has a significant difference during the global financial crisis and other periods. The causal relationships among different global stock markets exhibit a jump growth when each major crisis occurs. The contagion path is also short. A causal relationship between any two stock markets can usually be established with one stock market on average, not by using more than five stock markets. For risk contagion, the American stock markets exerted the largest influence in 12 years, followed by the European stock markets. Stock markets with high intermediate contagion ability play an important role in systemic risk contagion. Despite the crucial markets in Europe and America (e.g., USA, Brazil, and Mexico), stock markets with weak network correlation and strong media ability (e.g., the markets of Japan, Korea, Australia, and New Zealand) play a critical role in risk contagion.
This article aims to explore the dynamic relationship between Fintech (financial technology) and EC(the economic capital of commercial banks market risk) changes for a sample of 16 listed commercial ...banks in China. We estimate a balance panel dynamic system Generalized Method of Moment (GMM) approach for the period of January 2011 to September 2019.The article finds that during the sample period, Fintech has reduced the cost of information on both sides of the transaction, increased the transparency of market information, and reduced the EC. It also finds Fintech can provide a large amount of data for commercial banks to conduct market analysis, which makes the procyclicality of commercial banks less than before. Further tests reveal commercial banks have profit-driven preferences, while banks with strong profitability and high asset scale have higher risk tolerance. The impact of Fintech on the EC of different asset sizes commercial banks market risk is different.
The development of market integration has an important effect on regional green total factor productivity (GTFP). Based on the panel data of 30 provinces in China from 2008 to 2017, this paper ...studies the spatial effect and transmission mechanism of market integration on regional green total factor productivity by calculating the Malmquist–Luenburger index and using spatial econometric models. It was found that market integration can promote the improvement of regional green total factor productivity. This positive effect is not only directly reflected in the region, it also indirectly promotes the growth of GTFP in nearby regions. In addition, market integration has shown significant positive effects on efficiency improvement and technological progress, and market integration has affected regional green total factor productivity through them. The above conclusions are of great significance for China to develop a green economy and promote high-quality economic transformation.
This article examines the impact of “finance + technology” (Fintech) on different sizes of banks economic capital through the application of Fintech perspective in China during the period January ...2011 and September 2019, using a dynamic panel generalized method of moments (GMM) estimation technique. The study found compared with small and medium‐sized banks, large state‐owned commercial banks have advantages in scale, capital and experience. There is a negative correlation between the scale of assets of commercial banks and economic capital. Further tests reveal the impact of Fintech on the profitability of different types of commercial banks shows significant heterogeneity.
Green development is an important path to achieving economic, environmental, and social sustainability. Based on the comprehensive evaluation system of economy, environment, and society, this study ...used the entropy method, Theil index decomposition method, and spatial β-convergence model to study the differences and spatial convergence of China’s green development from 2010 to 2020. The research conclusions are as follows: First, China’s green development has an upward trend, and the eastern region is higher. Second, the regional differences in green development have the characteristic of rising first and then falling, and the differences within regions are the main source of imbalances in China’s green development. Third, China’s green development has obvious characteristics of spatial absolute β-convergence and spatial conditional β-convergence. Green innovation is conducive to narrowing the gaps in the convergence speed of regional green development. The research results comprehensively explain the characteristics of China’s green development and provide realistic evidence for China’s green development in the future.
Digital transformation (DT) is a strategic priority for commercial banks in China. It is important to explore the relationship between DT and bank systemic risk to maintain financial stability and ...promote high-quality development of banks. Based on the data of China's listed commercial banks from Q3 2010 to Q1 2022, this paper empirically tests the influence mechanism, heterogeneity influence and action channels of DT on bank systemic risk. This paper finds that DT reduces the bank systemic risk. The higher the degree of DT, the lower the bank systemic risk. Innovation effect and cost effect play multiple mediating roles in the reduction of bank systemic risk by DT. The innovation of bank products, sales channels, organizations and other aspects to enhance the competitiveness and income of banks, while reducing the information asymmetry between the supply chain and the industrial chain, taking cost and risk sharing, reduces the bank systemic risk. This paper enriches the research on the impact of bank DT on systemic risk and provides empirical support for bank risk management.
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