This study empirically examines the effect of green finance and fintech on high-quality economic development. Using data from 30 provinces and municipalities in China from 2007 to 2019, this study ...applies panel regression analysis to investigate the relationships between green finance, fintech, and high-quality economic development, and adopts a two-step generalized method of moments (GMM) to defaecate the endogeneity issue. This study finds that green finance comprehensively facilitates high-quality economic development by positively affect its all three aspects (i.e., ecological environment, economic efficiency, and economic structure). Additionally, fintech strengthens the positive impact of green finance in the aspects of ecological environment and economic structure, while having limited effects on the relationship between green finance and economic efficiency. Based on these findings, our study proposes three policy suggestions for policymakers, including reinforcing the integration of fintech development with green finance, building an environmental disclosure framework to supervise local governments in improving efficiency of green finance, and developing medium- and long-term favorable policies as an external intervention measure to promote green finance in the private sector.
•The relationship between green finance and high-quality economic development is investigated.•Fintech development interacts with green finance to affect high-quality economic development.•A comprehensive green finance development index is developed.•High-quality economic development is evaluated independently from three dimensions.•We controlled for endogeneity using the two-step GMM estimator.•The study has important policy implications for promoting the high-quality economic development.
In search of prosperity Rodrik, Dani; Rodrik, Dani
2012., 20121121, 2012, 2003, 2003-01-01, 20030101
eBook
The economics of growth has come a long way since it regained center stage for economists in the mid-1980s. Here for the first time is a series of country studies guided by that research. The ...thirteen essays, by leading economists, shed light on some of the most important growth puzzles of our time. How did China grow so rapidly despite the absence of full-fledged private property rights? What happened in India after the early 1980s to more than double its growth rate? How did Botswana and Mauritius avoid the problems that other countries in sub--Saharan Africa succumbed to? How did Indonesia manage to grow over three decades despite weak institutions and distorted microeconomic policies and why did it suffer such a collapse after 1997?
What emerges from this collective effort is a deeper understanding of the centrality of institutions. Economies that have performed well over the long term owe their success not to geography or trade, but to institutions that have generated market-oriented incentives, protected property rights, and enabled stability. However, these narratives warn against a cookie-cutter approach to institution building.
The contributors are Daron Acemoglu, Maite Careaga, Gregory Clark, J. Bradford DeLong, Georges de Menil, William Easterly, Ricardo Hausmann, Simon Johnson, Daniel Kaufmann, Massimo Mastruzzi, Ian W. McLean, Lant Pritchett, Yingyi Qian, James A. Robinson, Devesh Roy, Arvind Subramanian, Alan M. Taylor, Jonathan Temple, Barry R. Weingast, Susan Wolcott, and Diego Zavaleta.
Why do many households remain exposed to large exogenous sources of nonsystematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and ...nonprice factors in the adoption of an innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ratio comparable to US insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints, and limited salience are significant nonprice frictions that constrain demand.We suggest possible contract design improvements to mitigate these frictions.
The role of natural resources in promoting economic and financial activities is important for attaining country's economic growth. The study used different natural resource rents, domestic ...investment, trade openness, per capita income and their resulting impact on financial development in order to assess ‘financial resource curse’ hypothesis in Pakistan by using a consistent time series data from 1975 to 2017. The study employed ARDL-Bounds testing approach that is fairly worked under different order of integrated variables and displayed short- and long-run parameter estimates. Further, the study used VAR decomposition analysis to generate Impulse Response Function (IRF) and Variance Decomposition Analysis (VDA) to assessed forecasted variance and error shocks over a next 10 year time period. The results show that, in the short-run, initial level of forest rents and oil rents supported the ‘natural resource abundance’ hypothesis, as both the rents substantially increases country's financial development, however, in the long-run, there is a negative relationship of coal rents, forest rents, natural gas rents, and oil rents with domestic credit to private sector (DCPS), which confirmed the ‘natural curse hypothesis’ in a country. The domestic investment in the form of gross fixed capital formation (GFCF) largely supported the financial activities with all given resource rents in the models, while country's per capita income unable to signify its positive impact on DCPS under the resource curse environment during the study time period. The other results show that coal rents and oil rents decreases broad money supply whereas natural gas rents decreases market capitalization to validate ‘financial resource curse’ hypothesis in a country. The results of IRF and VDA approach confirmed the viability of both the competing natural resource theories (i.e., financial resource curse and financial resource blessing hypothesis) under financial development in the next 10 year time period.
•The study evaluated ‘financial resource curse’ hypothesis in Pakistan.•Financial development is shown by domestic credit to private sector, M2, and market capitalization.•Coal, natural gas, oil, and forest rents are used as indicators of natural resource abundance in a country.•The study verified ‘financial resource curse’ hypothesis in all of the four stated natural resource rents.•The domestic investment, trade, and continuing economic growth significantly affect country's financial development.
Linking environmental sustainability with poverty reduction and social justice, and making science and technology work for the poor, have become central practical, political and moral challenges of ...our times. These must be met in a world of rapid, interconnected change in environments, societies and economies, and globalised, fragmented governance arrangements. Yet despite growing international attention and investment, policy attempts often fail. Why is this, and what can be done about it? How might we understand and address emergent threats from epidemic disease, or the challenges of water scarcity in dryland India? In the context of climate change, how might seed systems help African farmers meet their needs, and how might appropriate energy strategies be developed? This book lays out a new 'pathways approach' to address sustainability challenges such as these in today's dynamic world. Through an appreciation of dynamics, complexity, uncertainty, differing narratives and the values-based aims of sustainability, the pathways approach allows us to see how some approaches are dominant, even though they do not produce the desired results, and how to create successful alternative 'pathways' of responding to the challenges we face. As well as offering new ways of thinking about sustainability, the book also suggests a series of practical ways forward - in tools and methods, forms of political engagement, and styles of knowledge-making and communication. Throughout the book, the practicalities of the pathways approach are illustrated using four case studies: water in dryland India, agricultural seeds in Africa, responses to epidemic disease and energy systems/climate change.Published in association with the Economic and Social Research Council (ESRC)
Contesting Development Barron, Patrick; Woolcock, Michael; Diprose, Rachael
02/2011
eBook
This pathbreaking book analyzes a highly successful participatory development program in Indonesia, exploring its distinctive origins and design principles and its impacts on local conflict dynamics ...and social institutions.
Impact Evaluation in Practice Gertler, Paul; Martinez, Sebastian; Premand, Patrick ...
2010, 12-13-2010, 20110101
eBook
Odprti dostop
This book offers an accessible introduction to the topic of impact evaluation and its practice in development. While the book is geared principally towards development practitioners and policymakers ...designing prospective impact evaluations, we trust that it will be a valuable resource for students and others interested in using impact evaluation. Prospective impact evaluations should be used selectively to assess whether or not a program has achieved its intended results, or to test alternatives for achieving those results. We consider that more and better impact evaluation will help strengthen the evidence base for development policies and programs around the world. If governments and development practitioners can make policy decisions based on evidence - including evidence generated through impact evaluation - our hope is that development resources will be spent more effectively, and ultimately have a greater impact on reducing poverty and improving people?s lives. The three chapters in this handbook provide a non-technical introduction to impact evaluations, including ?Why Evaluate? in Chapter 1, ?How to Evaluate? in Chapter 2 and ?How to Implement Impact Evaluations? in Chapter 3. These elements are the basic ?tools? needed in order to successfully carry out an impact evaluation. From a methodological standpoint our approach to impact evaluation is largely pragmatic: we think that the most appropriate methods should be identified to fit the operational context, and not the other way around. This is best achieved at the outset of the program, through the design of prospective impact evaluation that can be built into the project?s implementation. We argue that gaining consensus between key stakeholders and identifying an evaluation design that fits the political and operational context is as important as the method itself. We also believe
strongly that impact evaluations should be upfront about their limitations and caveats. Finally, we strongly encourage policymakers and program managers to consider impact evaluations in a logical framework that clearly sets out the causal pathways by which the program works to produce outputs and influence final outcomes, and to combine impact evaluations with monitoring and selected complementary evaluation approach to gain a full picture of performance.This book builds on a core set of teaching materials developed for the ?Turning Promises to Evidence? workshops organized by the office of the Chief Economist for Human Development (HDNCE) in partnership with regional units and the Development Economics Research Group (DECRG) at the World Bank.
•Artisanal mining is a key factor for local subsistence in Burkina Faso.•Adverse socio-ecological conditions exacerbate the problems of mining investments.•Local perceptions strongly underestimate ...long-term environmental costs.•Industrial gold mining fails to generate positive effects for local livelihoods.•Policy measures should build on the potentials of local extractive economies.
While existing resource extraction debates have contributed to a better understanding of national economic and political dilemmas and institutional responses, there are flaws in understanding the specific relevance of the various types of mining schemes for rural households to deal with the various problems they are confronted with. Our paper examines the perceptions of gold mining effects on households in Northern Burkina Faso. The findings of our survey across six districts representing different mining schemes (industrial, artisanal, no mining) highlight the fact that artisanal gold mining can generate job opportunities and cash income for local households; whereas industrial gold mining widely fails to do so. However, the general economic and environmental settings exert a much stronger influence on the household state. Gold mining effects are perceived as being less advantageous in districts where people are suffering from a lack of education, a higher vulnerability to drought and poor market access. Our findings provide empirical support for those who back the enhanced formalization of artisanal and small-scale mining (ASM) and policies that entail more rigorous state monitoring of mining concessions, especially in economic and environmentally disadvantaged contexts. Effectively addressing communal and pro-poor development requires greater attention to the political economy of ASM and corporate mining. It also calls for a greater inclusion of local mining stakeholders and a more effective alignment of international regulatory and advocacy efforts.
•Cointegration levels among life expectancy and its determinants have explored.•The structural breaks stemming in the data has been investigated with ARDL.•Economic growth is positively associated ...with life expectancy.•Energy consumption lowers life expectancy via environmental degradation.
This paper tends to investigate the linkage between economic growth and life expectancy by considering the potential role of financial development and energy consumption using data of Pakistan. Traditional as well as advanced unit root tests for observing the stationary properties of the variables were applied. For exploring the cointegration levels among life expectancy and its determinants, ARDL bounds testing technique in the existence of structural breaks which were stemming in the data has been investigated. The empirical results provide the confirmation for the presence of cointegration between the variables. Further, economic growth is positively associated with life expectancy. Financial development is revealing a negative effect on life expectancy in the scenario of Pakistan. Energy consumption lowers life expectancy via environmental degradation. Furthermore, this empirical analysis provides new insights to policymakers for using financial development and energy consumption as economic tools to improve life expectancy by directing energy and finance policies.
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