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Sustainable development goals, natural resources and economic growth: Evidence from China

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  • Wu, Fan
  • Wang, Xingguo
  • Liu, Tao

Abstract

Using a sample of Chinese listed companies between 2000 and 2020, this study uses the econometric method to examines the influence of financial restrictions on development of green economic growth and sustainable development goals. We also examine how natural resources development rules help businesses overcome financial barriers to green finance and promotes sustainable development goals. Economic recovery is proven less capable when businesses face more financial restraints, and privately held businesses are often more at risk than state-owned ones in this respect. Particularly after 2016, the financing efficiency of businesses in the center and western areas dramatically increases, demonstrating the synergistic effects of green finance regulations and economic policies that promote undeveloped regions. The combination of green financial investment, insurance, and credit shows the greatest positive supportive impact. Insurance serves a bridging function in this combination by better ensuring that clean energy performance matches clean energy projected performance and encouraging clean energy to get green credit financing. The findings also suggest that the existing green financing sector is still following a pattern dictated by the government. The effectiveness of finance is influenced by both elements at the corporate and national levels, such as formal institutions and financial oversight. These results have significant ramifications for policymakers who are considering clean energy policies to assist renewable energy development via a successful financial sector structure, which ultimately aids in realizing the energy sector transformation.

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  • Wu, Fan & Wang, Xingguo & Liu, Tao, 2023. "Sustainable development goals, natural resources and economic growth: Evidence from China," Resources Policy, Elsevier, vol. 83(C).
    • Handle: RePEc:eee:jrpoli:v:83:y:2023:i:c:s0301420723002283
    DOI: 10.1016/j.resourpol.2023.103520
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