サステナブルファイナンスと長期経済成長の促進における役割
Sustainable Finance and its Role in Promoting Long-Term Economic Growth (原題)
Rohan Iyer, Ananya Sharma
🤖 gxceed AI 要約
日本語
サステナブルファイナンスがマクロ経済成長に与える影響を、先進国・新興国のクロスカントリーデータで検証した研究。グリーンボンド発行やESGファンド配分とGDP成長の間に中〜強い正の相関（r=0.68）を確認し、回帰モデルは成長変動の72%を説明した。規制の質と財務透明性がこの正の関係を強める調整効果も示され、ESG投資戦略と規制枠組みの設計に示唆を与える。
English
This paper examines how sustainable finance affects macroeconomic growth using cross-country data on green bond issuance, ESG fund allocation, and GDP growth across developed and emerging economies. Panel regressions show green bonds (β=0.021) and ESG fund allocation (β=0.015) positively drive GDP growth, with the model explaining 72% of growth variance. Regulatory quality and financial transparency strengthen this relationship, offering implications for ESG investment strategy and regulation.
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
ESG投資と成長の実証的関連を示す内容は、SSBJ基準や有報でのサステナビリティ開示、投資家向け説明責任を進める日本企業・金融機関にとって、開示が資本配分と成長に資する根拠として援用可能。政策当局のESG促進策の妥当性検討にも示唆。
In the global GX context
Amid TCFD/ISSB/CSRD-driven disclosure expansion, this paper offers macro-level evidence that sustainable finance correlates with growth, reinforcing the case for transition finance and green bond market development. It adds cross-country empirical support to global debates on whether ESG integration delivers real economic returns.
👥 読者別の含意
🔬研究者:ESG投資とマクロ成長の相関・調整効果を扱う実証研究として、因果推論や指標設計の改善余地を検討する出発点になる。
🏢実務担当者:ESGファンド配分やグリーンボンド調達が成長に寄与しうる根拠として、投資家説明やサステナビリティ戦略の正当化に活用できる。
🏛政策担当者:規制の質と財務透明性がESG投資の成長効果を強める点は、開示制度・金融規制設計の政策的根拠となりうる。
📄 Abstract（原文）
The integration of environmental, social, and governance (ESG) factors into investment decisions in sustainable finance has now become an increasingly significant driver of long-term growth. In the wake of growing global concerns about sustainability, how an ESG-motivated investment affects the overall macroeconomy becomes vital for policymakers, financial institutions, and corporate managers to know. This paper explores the contribution of sustainable finance to the macroeconomy using a combination of conceptual discussion and quantitative analysis. Specifically, it examines how sustainable finance impacts economic development by looking at cross-country data on green bond issuance, ESG fund allocation, and GDP growth in both developed and emerging economies. Panel data regression models and correlations are used to examine the relationship between ESG factors and long-term growth while controlling for institutional quality, trade openness, and inflation. In general, statistical analysis revealed a strong-to-moderate positive relationship between total sustainable finance and GDP growth (r=0.68, p<0.05). Regression coefficient analysis showed that green bonds (β = 0.021, p = 0.03) and ESG fund allocation (β = 0.015, p = 0.04) promote GDP growth, and the model accounted for 72% of the variability in GDP growth (adjusted R² =0.72). Moderation analysis showed that regulatory quality and financial transparency strengthened the positive relationship between sustainable finance and GDP growth. Implications from the findings help improve ESG investment strategies and the regulatory framework, as sustainable finance is a significant driver for resilient, inclusive, and sustainable economic growth.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://gpim.in/index.php/journal/article/download/GPM26210/207/439first seen 2026-10-14 05:41:00
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