| Title | Green investment, financial development, digitalization and economic sustainability in Vietnam: Evidence from a quantile-on-quantile regression and wavelet coherence |
|---|---|
| ID_Doc | 30944 |
| Authors | Hung, NT |
| Title | Green investment, financial development, digitalization and economic sustainability in Vietnam: Evidence from a quantile-on-quantile regression and wavelet coherence |
| Year | 2023 |
| Published | |
| Abstract | This study analyzes how economic sustainability in Vietnam could be promoted by realizing opportunities represented by green investment, digitalization, and financial development. The relationship between digitali-zation, green investment, financial development, and sustainable development has yet to be thoroughly inves-tigated. In addition, no research has been conducted in Vietnam on the relationship between these indicators to the best of our knowledge. By doing so, we adopt a novel three-stage methodology comprising quantile-on-quantile regression developed by Sim and Zhou (2015), Granger causality in quantiles proposed by Troster (2018), and wavelet analysis. The findings demonstrate a strong positive effect of digitalization, green invest-ment, and financial development on economic sustainability in Vietnam across most quantiles, indicating that investment in green resources, technology innovation, and financial development supports the country's tran-sition to sustainable development. Overall, the empirical findings show that digitalization, green investment, and financial development can all play a significant role in significantly increasing the sustainability of Vietnam's current high economic growth trajectories. The findings could create a roadmap for developing countries to use technology innovation, green investment, and financial development in productive sectors to accomplish sus-tainable development goals. |
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