UNVEILING THE IMPACT OF GREEN ECONOMIC GROWTH AND FINANCIAL DEVELOPMENT ON THE GLOBAL SUSTAINABLE DEVELOPMENT PATH: A BAYESIAN REGRESSION APPROACH

Autores/as

  • Tran Duy Thanh Faculty of Finance and Accounting, Lac Hong University
  • Le Nguyen Giap Faculty of Finance and Accounting, Lac Hong University
  • Nguyen Tien Quang Faculty of Finance and Accounting, Lac Hong University
  • Nguyen Van Hai Faculty of Finance and Accounting, Lac Hong University https://orcid.org/0009-0003-3836-3085

DOI:

https://doi.org/10.18623/rvd.v22.n6.3926

Palabras clave:

Green Economic Growth, Financial Development, Sustainable Development, Bayesian Regression

Resumen

Climate change is not only a challenge but also affects the path toward sustainable development. The transition of the economy from brown to green relies on essential tools in this process, including green economic growth and financial development. However, until now no study has examined the simultaneous impact of green economic growth and financial development on sustainable development. This study seeks to address this gap by investigating the effects of green economic growth and financial development on sustainable development in 71 countries during the period from two thousand and four to two thousand and twenty one. Using the Bayesian regression approach, the results show that green economic growth has a positive effect on sustainable development (0.148), which reflects the importance of green economic growth in enhancing sustainable development across countries. Financial development also exerts a positive effect on sustainable development (0.274), indicating that a strong financial system with a large number of financial institutions enables firms and individuals to access resources and supports progress toward sustainability goals. These findings highlight the need to promote green economic growth as a key strategy while improving and upgrading the financial system to achieve sustainable development.

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Publicado

2025-12-12

Cómo citar

Thanh, T. D., Giap, L. N., Quang, N. T., & Hai , N. V. (2025). UNVEILING THE IMPACT OF GREEN ECONOMIC GROWTH AND FINANCIAL DEVELOPMENT ON THE GLOBAL SUSTAINABLE DEVELOPMENT PATH: A BAYESIAN REGRESSION APPROACH. Veredas Do Direito, 22, e223926. https://doi.org/10.18623/rvd.v22.n6.3926

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Vol. 22 (2025): Veredas do Direito, v. 22, 2025

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