Can Innovation and Institutional Quality Unlock Green Finance Potential? Lessons From the OECD 'S Path to Sustainable Development
イノベーションと制度の質はグリーンファイナンスの可能性を引き出せるか？OECDの持続可能な開発への道からの教訓 (AI 翻訳)
Qiuya Wu, E. Bianchi
🤖 gxceed AI 要約
日本語
本論文は、2015〜2022年のOECD29カ国のパネルデータを用い、グリーンボンドや環境保護支出が持続可能な開発に与える影響を分析。グリーンファイナンス単体では短期的効果が弱いが、優れた制度・革新環境下で効果を発揮することを発見。貿易開放や政府支出は持続可能性に寄与する一方、法の支配は初期に移行費用を伴う。AI対応インフラと長期再生可能エネルギー投資の重要性を示唆。
English
Using quarterly panel data from 29 OECD countries (2015-2022), this paper examines how green finance (green bonds and environmental spending) affects sustainable development. It finds that green finance alone has weak short-run effects, but becomes effective when supported by favorable institutional and innovation environments. Trade openness and government spending consistently promote sustainability, while rule of law incurs transitional costs. The study recommends AI-ready infrastructure and long-term renewable energy investment to strengthen the link between green finance and SDGs.
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
日本はOECD加盟国であり、グリーンボンド市場の拡大やAI・再生可能エネルギーへの投資が進む中、制度の質（例：法の支配）の役割を再考する点で示唆に富む。特に、初期の制度改革が短期的に逆効果となる可能性を認識しつつ、長期的な政策設計に活用できる。
In the global GX context
This paper contributes to the global discussion on green finance effectiveness, relevant to TCFD/ISSB frameworks and SDG financing. It provides empirical evidence that institutional quality and innovation capacity (notably AI) moderate the impact of green finance, offering insights for policymakers designing green bond standards and sustainability-linked financial products.
👥 読者別の含意
🔬研究者:This study offers robust panel data evidence on the conditional effectiveness of green finance, highlighting the mediating roles of AI and institutional quality.
🏢実務担当者:Corporate sustainability teams can use these findings to argue for simultaneous investment in AI infrastructure and renewable energy alongside green bond issuance.
🏛政策担当者:Regulators should note that green finance policies may require complementary reforms in governance and innovation support to achieve SDGs, and that rule-of-law improvements may initially slow progress.
📄 Abstract（原文）
The sustainable development goals (SDGs) cannot be achieved in high‐income economies solely provided access to capital, but the fabrication needs to be spread among financial flows, technological advancement, and the quality of institutions. This article will explore the impact of the green finance, represented by the green bonds and environmental protection spending, on sustainable development in the 29 OECD countries during the period between 2015 and 2022, as well as the mediating effect of the artificial intelligence (AI) and renewable energy capacity (RECAP). Based on quarterly panel data and a dynamic econometric model that encompasses both cross‐sectional dependence tests and slope heterogeneity as well as System GMM estimates, we get the results that green finance in and of itself has weak or adverse short‐run impacts on sustainability only. But placed within favorable institutional and innovation environments, it has a better effect. In particular, the green bonds are linked with a higher capacity of renewable energy, whereas the environmental spending is observed to crowd out AI investment in the short‐term. Openness of trade and government spending are always sustainable to development, and rule of law exhibits transitional costs, indicating that initially the reform of the rules might be counterproductive to the advance. These results promote SDGs 7, 9, 13, and 16 because they demonstrate that financial mechanisms can be effective at most when these mechanisms are supported by the effective governance and capacity to innovate. These are the performance based financial transactions, AI ready infrastructure and investment in long term renewable energy that we suggest the policymakers concentrate to better tie the connection between green finance initiatives and the SDG development in developed economies.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1002/sd.70648first seen 2026-05-15 20:54:54
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