Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis

Sustainable development and socioeconomic growth are balanced through green economic recovery post pandemic. To statistically examine the coordinated development of green economic growth, foreign direct investment, stock market return and financial development, this paper constructs a complete indic...

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Autores principales: Huang, Xiaodong, Lei, Chang
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9768408/
http://dx.doi.org/10.1007/s10644-022-09460-x
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author Huang, Xiaodong
Lei, Chang
author_facet Huang, Xiaodong
Lei, Chang
author_sort Huang, Xiaodong
collection PubMed
description Sustainable development and socioeconomic growth are balanced through green economic recovery post pandemic. To statistically examine the coordinated development of green economic growth, foreign direct investment, stock market return and financial development, this paper constructs a complete indicator system for green economic recovery and financial development, by using a VAR model for the BRICS over the period of 2000–2020. Our results demonstrate that FDI significantly improves environmental quality by lowering pollution levels and improve the green economic growth in the region (BRICS). Stock market also has a significant positive effect on green economic growth. On the other side, FDI has a significant detrimental effect on financial development. Finally, financial development has a considerable detrimental impact on environmental deterioration. Our analysis recommends that besides the initiatives in financial growth, FDI and stock market be given priority in order to improve sustainable development.
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spelling pubmed-97684082022-12-21 Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis Huang, Xiaodong Lei, Chang Econ Change Restruct Article Sustainable development and socioeconomic growth are balanced through green economic recovery post pandemic. To statistically examine the coordinated development of green economic growth, foreign direct investment, stock market return and financial development, this paper constructs a complete indicator system for green economic recovery and financial development, by using a VAR model for the BRICS over the period of 2000–2020. Our results demonstrate that FDI significantly improves environmental quality by lowering pollution levels and improve the green economic growth in the region (BRICS). Stock market also has a significant positive effect on green economic growth. On the other side, FDI has a significant detrimental effect on financial development. Finally, financial development has a considerable detrimental impact on environmental deterioration. Our analysis recommends that besides the initiatives in financial growth, FDI and stock market be given priority in order to improve sustainable development. Springer US 2022-12-21 2023 /pmc/articles/PMC9768408/ http://dx.doi.org/10.1007/s10644-022-09460-x Text en © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022, Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Article
Huang, Xiaodong
Lei, Chang
Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis
title Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis
title_full Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis
title_fullStr Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis
title_full_unstemmed Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis
title_short Covid-19 impact on financial growth and guidelines for green recovery in BRICS: fresh insights from econometric analysis
title_sort covid-19 impact on financial growth and guidelines for green recovery in brics: fresh insights from econometric analysis
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9768408/
http://dx.doi.org/10.1007/s10644-022-09460-x
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AT leichang covid19impactonfinancialgrowthandguidelinesforgreenrecoveryinbricsfreshinsightsfromeconometricanalysis

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