How Green Money and Tech Fuel Eco-Friendly Growth

The link between green energy and economic growth is not as simple as it seems. Many studies have looked at how green finance and technology affect growth, but they often miss the bigger picture. A recent study tried to fix this by looking at 29 countries from 2014 to 2021. It used a special method called the Sobel approach to see how green finance and technology work together to boost green growth. The study found that green technology plays a big role in this process. For every 1% increase in green technology, green growth goes up by 0. 019%. This shows that investing in green tech can have a real impact on the economy. Green finance also plays a part. For every 1% increase in green finance, the effect of green technology on growth goes up by 0. 99%. This means that having the right financial support can make green tech even more effective. The study also did extra checks to make sure the results were solid. This gives more weight to the idea that green finance and technology are key to sustainable economic growth. However, it's important to note that the study only looked at a few countries and a specific time period. More research is needed to see if these findings hold true everywhere.