IDEAS home Printed from https://ideas.repec.org/a/pal/palcom/v11y2024i1d10.1057_s41599-024-03175-2.html
   My bibliography  Save this article

Role of collaborative governance in unlocking private investment in sustainable projects

Author

Listed:
  • Yiran Bai

    (Lanzhou University
    Lanzhou University)

  • Chunxian Lu

    (Lanzhou University)

  • Ximiao Dong

    (Lanzhou University
    Lanzhou University)

  • Yinan Li

    (Lanzhou University
    Lanzhou University)

Abstract

This scholarly investigation scrutinizes the involvement of the private sector in environmentally sustainable projects, employing the cross-sectional autoregressive distributed lag methodology on yearly data spanning from 2000 to 2020 across 11 low and lower-middle-income Asian nations. It specifically assesses the influence of the good governance index. Findings indicate a notable correlation, where a 1% enhancement in the index corresponds to a 0.34% increase in private engagement in green projects in the short term and a 0.64% increase in the long term. The study underscores the significance of economic stability; a 1% escalation in uncertainty leads to a 0.56% short term and 0.73% long-term reduction in private participation. It underscores the driving role of gross domestic product growth and the proliferation of small and medium-sized enterprises, emphasizing the necessity for tailored financial instruments to stimulate private investment in green projects. Moreover, it explores practical policy avenues such as e-government services, information and communication technology-driven digital transformation, sustainable corporate governance, and issuance of state-backed green bonds to foster private-sector participation in eco-friendly initiatives. Future research avenues encompass examining the repercussions of the pandemic on private green investments and evaluating the efficacy of the public-private partnership model in green projects across these economies.

Suggested Citation

  • Yiran Bai & Chunxian Lu & Ximiao Dong & Yinan Li, 2024. "Role of collaborative governance in unlocking private investment in sustainable projects," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-9, December.
    • Handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-024-03175-2
    DOI: 10.1057/s41599-024-03175-2
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41599-024-03175-2
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41599-024-03175-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Agoraki, Maria-Eleni K. & Aslanidis, Nektarios & Kouretas, Georgios P., 2023. "How has COVID-19 affected the performance of green investment funds?," Journal of International Money and Finance, Elsevier, vol. 131(C).
    2. M. Hashem Pesaran, 2007. "A simple panel unit root test in the presence of cross-section dependence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(2), pages 265-312.
    3. Joakim Westerlund, 2007. "Testing for Error Correction in Panel Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 69(6), pages 709-748, December.
    4. Yan, Juan & Haroon, Muhammad, 2023. "Financing efficiency in natural resource markets mobilizing private and public capital for a green recovery," Resources Policy, Elsevier, vol. 85(PB).
    5. Naoyuki Yoshino & Ehsan Rasoulinezhad & Farhad Taghizadeh-Hesary, 2021. "Economic Impacts of Carbon Tax in a General Equilibrium Framework: Empirical Study of Japan," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 23(01n02), pages 1-25, June.
    6. Zhao, Linhai & Rasoulinezhad, Ehsan, 2023. "Role of natural resources utilization efficiency in achieving green economic recovery: Evidence from BRICS countries," Resources Policy, Elsevier, vol. 80(C).
    7. Wang, Qunwei & Fan, Zining, 2023. "Green finance and investment behavior of renewable energy enterprises: A case study of China," International Review of Financial Analysis, Elsevier, vol. 87(C).
    8. Taghizadeh-Hesary, Farhad & Phoumin, Han & Rasoulinezhad, Ehsan, 2022. "COVID-19 and regional solutions for mitigating the risk of SME finance in selected ASEAN member states," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 506-525.
    9. Wang, Kai-Hua & Zhao, Yan-Xin & Jiang, Cui-Feng & Li, Zheng-Zheng, 2022. "Does green finance inspire sustainable development? Evidence from a global perspective," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 412-426.
    10. Ye, Xiang & Rasoulinezhad, Ehsan, 2023. "Assessment of impacts of green bonds on renewable energy utilization efficiency," Renewable Energy, Elsevier, vol. 202(C), pages 626-633.
    11. Ayesha Afzal & Ehsan Rasoulinezhad & Zaki Malik, 2022. "Green finance and sustainable development in Europe," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 5150-5163, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhang, Ming & Wei, Xuejiao, 2024. "Resource efficiency, cultural industry, and green economic growth: A synergistic approach," Resources Policy, Elsevier, vol. 90(C).
    2. Wang, Chuangang & Li, Xin, 2024. "Optimizing the utilization of mineral assets and human resources for enhanced social welfare and sustainable development," Resources Policy, Elsevier, vol. 90(C).
    3. Li, Jianying & Fang, Zhi, 2024. "Navigating COVID-19 disruptions for resilience and green growth in mineral resource trade," Resources Policy, Elsevier, vol. 90(C).
    4. Liu, Wen & Xu, Jiaqi & Cao, Lei & Li, Fuchang, 2024. "Towards iron ore mining sustainability and low-carbon transformation: Policies and implications," Resources Policy, Elsevier, vol. 90(C).
    5. Xu, Jiaqi & Zhao, Jingfeng & Liu, Wen, 2023. "A comparative study of renewable and fossil fuels energy impacts on green development in Asian countries with divergent income inequality," Resources Policy, Elsevier, vol. 85(PA).
    6. Chunyang Wang & Qianqian He & Jian Xu, 2024. "RETRACTED ARTICLE: Exploring the role of quality and inclusive education in meeting sustainable development goals," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-15, June.
    7. Yuecheng Xu & Yunfei Cai, 2024. "RETRACTED ARTICLE: Is green finance a motivator for energy transformation investments in the OECD?," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-15, June.
    8. Qian Zhang & Linlin Sun & Jian Xu, 2024. "RETRACTED ARTICLE: Can the sports industry foster the transition to net-zero and green growth?," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-16, June.
    9. Shang, Yunfeng & Xie, Yani & Chen, Wenjie, 2024. "Addressing resource scarcity and fostering sustainability through environmental education in Asia," Resources Policy, Elsevier, vol. 90(C).
    10. Shang, Yunfeng & Zong, Yi, 2024. "Role of e-commerce for promoting sustainability in the mining sector," Resources Policy, Elsevier, vol. 90(C).
    11. Liu, Xiaoxia & Yang, Ming & Shao, Zongyuan & Liu, Liyan & Gu, Weiyu, 2024. "Assessment of impacts of mineral raw material resource efficiency on enterprise performance," Resources Policy, Elsevier, vol. 90(C).
    12. Guo, Yang & Zhao, Luwei & Zhang, Congcong, 2023. "Energy resources, tourism development and growth-emission nexus in developing countries," Resources Policy, Elsevier, vol. 81(C).
    13. Xiaoping, Chen & Yanqiu, Wu, 2024. "Cultivating green growth: The interplay of communication and resource efficiency in East Asia," Resources Policy, Elsevier, vol. 90(C).
    14. Li, Liang & Chen, Yifu, 2024. "The impact of intellectual property protection on the performance of fossil fuel extraction and production companies in developing countries," Resources Policy, Elsevier, vol. 89(C).
    15. Xu, Jin & Liu, Chengjun & Dou, Gang & Cai, Yunfei, 2024. "Mineral resource management in Chinese rural areas: Policy assessment for green economic growth," Resources Policy, Elsevier, vol. 90(C).
    16. Dai, Xiajing & Zhang, Junjie, 2024. "China's green development journey through resource rent optimization and green finance policies," Resources Policy, Elsevier, vol. 90(C).
    17. Sheng Xu & Weiyu Gu, 2024. "Dual carbon economy modeling in advanced economies," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-8, December.
    18. Li’ao Song & Cheng Jin, 2024. "RETRACTED ARTICLE: Tailoring social welfare and energy transition for an aging population," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-15, April.
    19. Zhang, Zhian & Tang, Jiayi & Ye, Ziyu, 2023. "New evidence of the relationship between media, culture industry, and mineral efficiency in high and low income asian economies," Resources Policy, Elsevier, vol. 87(PB).
    20. Liu, Donghui & Shang, Zhaoyan & Lin, Tongzhi & Yue, Shuguang, 2024. "Balancing law, sustainability, and the economy in China's responsible mineral resource extraction path," Resources Policy, Elsevier, vol. 90(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-024-03175-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: https://www.nature.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.