What drives green finance development? Evidence from provincial-level data in Indonesia
グリーンファイナンスの発展を促進する要因は何か？インドネシアの州レベルデータからの証拠 (AI 翻訳)
Miranti, Ragdad Cani, Lubis, Deltha Airuszh, Anam, Yongky Choirul
🤖 gxceed AI 要約
日本語
本研究は、インドネシア34州のパネルデータを用いて、グリーンファイナンス発展の空間的変動とその要因を動的空間Durbinモデルで分析した。グリーンファイナンス指数を経済・金融・環境の3次元で構築し、産業構造の最適化や環境保護、金融発展が有意な効果を持つことを示した。また、短期的には産業構造の最適化のみが近隣州に波及効果を持つことが明らかになった。
English
This study uses provincial panel data from 34 Indonesian provinces to analyze spatial variation and drivers of green finance development with a Dynamic Spatial Durbin model. A Green Finance Index is constructed across economic, financial, and environmental dimensions. Findings show that industrial structure optimization, environmental protection, and financial development have significant direct effects, while only industrial structure optimization indirectly influences neighboring provinces in the short run.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
本論文はインドネシアを対象としており、日本のGX政策に直接の示唆を与えるものではない。しかし、グリーンファイナンスの地域間格差と波及効果を分析する手法は、日本国内の地域別GX推進策（例えば、産炭地域の転換）を検討する際の参考となる可能性がある。
In the global GX context
This paper provides empirical evidence on spatial spillovers in green finance development from an emerging economy context. Its methodological approach using dynamic spatial models can inform regional green finance strategies globally. The findings on negative spatial autocorrelation challenge assumptions that high-performing regions automatically lift neighbors, which is relevant for designing targeted regional policies in the green transition.
👥 読者別の含意
🔬研究者:Spatial econometric analysis of green finance drivers in a developing country offers a methodological template for similar studies in other emerging markets.
🏢実務担当者:Indonesian financial institutions and corporate sustainability teams can use the Green Finance Index and findings on industrial structure optimization to guide regional green investment decisions.
🏛政策担当者:Indonesian policymakers should note that green finance does not automatically spill over to neighboring provinces, necessitating coordinated regional policies rather than relying on diffusion from high-performing areas.
📄 Abstract（原文）
Abstract In recent years, developing countries have increasingly initiated green finance practices to promote sustainable growth. Indonesia is one of countries committed to this transition, although its implementation remains unevenly distributed across regions. This paper investigates the spatial variation of green finance development across 34 provinces in Indonesia using Dynamic Spatial Durbin model and its comparison with other spatial models specifications. By exploiting a novel provincial dataset spanning from 2018 to 2022, we evaluate the influencing factors and spatial externalities which drive green finance iniatives in Indonesia. In particular, we also examine the role of spatial spills-over to green finance development. Using Green Finance Index calculated from 3 vital dimensions (economics, finance, and environment), our empirical analysis highlights three principal findings. First , we identify negative spatial autocorrelation in green finance development, suggesting that provinces with high green finance performance do not generate positive spillover effects on neighbouring provinces. This spatial dispersion reveals persistent low–high spatial outliers, particularly in Kepulauan Bangka Belitung, Yogyakarta, Kalimantan Utara, and Banten during post COVID-19 period. Second , optimisation of industrial structure, environmental protection, and degree of financial development demonstrate significant effects on green finance development in the given provinces. Third , in the short-run, only indirect effect of optimisation of industrial structure influences green finance dynamics in the neighbouring provinces. From a policy perspective, our findings alert policy makers to re-think the possibility of augmenting green-industrial and technological policies with region-specific financial management.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1007/s10708-025-11545-9first seen 2026-05-14 21:24:59
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