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Towards sustainable path: Measuring the effectiveness of natural resource utilization, renewable energy resources, fintech, environmental investments, and research & development

Author

Listed:
  • Wang, Yulin
  • Han, Mo
  • Liu, Kai

Abstract

The present era experiences devastating effect of global warming and climate change than what is manifested in pre-industrial age. Indeed, efforts have heightened the calls for pro-environmental policy measures to address environmental issues, among which renewable energy and green technology stand out. The paper, thus, examines the influence of natural resource utilization, renewable energy resources, Fintech, environmental investments, and R&D on Sustainable development in E7 and G7 countries employing time series data covering the period 1998 to 2022. To estimate the relationship among the study Dynamic ordinary Least Square (DOLS) and Fully Modified Ordinary Least Square (FMOLS) technique is used. Study's finding demonstrated the significance of funding Fintech, R&D, and environmental conservation for promoting a nation's sustainable growth. The study highlighted how a nation might attain sustainable growth by utilising renewable energy resources. The obtained data analysis supported each of the proposed hypotheses. In this regard, the E-7 and G-7 countries ought to launch environmental conservation initiatives and provide funding to companies in order to sustainable business practices. In addition, these nations ought to invest heavily in R&D in order to promote long-term prosperity. Findings also suggest E-7 and G-7 economies should prioritize the usage of renewable resources along with focus on green financing policies as it will help them to formulate green growth policies.

Suggested Citation

  • Wang, Yulin & Han, Mo & Liu, Kai, 2024. "Towards sustainable path: Measuring the effectiveness of natural resource utilization, renewable energy resources, fintech, environmental investments, and research & development," Resources Policy, Elsevier, vol. 93(C).
    • Handle: RePEc:eee:jrpoli:v:93:y:2024:i:c:s0301420724004203
    DOI: 10.1016/j.resourpol.2024.105053
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