途上国における低炭素エネルギー投資：海外資金流入の見通し

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

🔬研究者:海外資金流入の構成要素ごとに低炭素エネルギーへの異質な効果を示した、途上国グリーンファイナンス研究の実証的基準点。

🏢実務担当者:新興国での再エネ・低炭素事業を検討する際、FDI主導の資金調達が送金・債務依存より有効である点を投資判断に活用できる。

🏛政策担当者:途上国の気候資金政策において、FDI誘致策と対外債務・送金依存のリスクを区別した設計が必要であることを示唆。

Purpose Developing economies face severe challenges in financing low-carbon energy investment, which impedes attaining Sustainable Development Goals (SDGs), especially SDGs 7 and 13, and the net-zero target by 2050. As a result, the authors aim to examine the prospects of foreign finance inflow for financing low-carbon energy in developing countries. Design/methodology/approach This study disaggregates foreign finance inflow into foreign direct investment (FDI) inflow, remittance and external debt, collecting data from 94 developing nations between 1999 and 2023 for analysis. The authors apply the novel two-step system-generalised method of moments (GMM), Pool-fully modified ordinary least squares (FMOLS) and Driscoll and Kraay standard error estimators. Findings The outcome of the analysis reveals that FDI inflows enhance the development of low-carbon energy in developing economies, while remittance and external debt slow the development of low-carbon energy. Research limitations/implications The limitation of this study is based on the estimators, that is, two-step system-GMM, Pool-FMOLS and Driscoll and Kraay standard error. These estimators produce long-term results without short-run insight, thereby supporting long-run policy. Despite the caveat, the policy outcome of the study is appropriate because green energy development requires long-term policy measures to drive the transition pathways. Practical implications The evidence offers practical implications on the prospect of foreign financing options for developing economies to drive needed green energy resources investment to propel the low-carbon energy transition in these countries. The practical policy implications of the study can accelerate the green energy transition for energy security and climate actions in developing nations. In addition, the study practically contributes towards SDG attainment, especially SDGs 7 and 13. Originality/value The authors make valuable, practical policy contributions towards clean energy financing in 94 developing economies. This study covers a wider sample, which offers reliable evidence for generalisation, unlike existing literature. Also, the authors disaggregated financial inflows into three key components: FDI inflows, remittances and external debt to ascertain the important channel for green financing in developing nations with a paucity of green funding. As such, the study is valuable, contributing to universal energy access and climate actions in the world’s most vulnerable societies.

• openalex https://doi.org/10.1108/ijesm-10-2025-0056first seen 2026-09-11 05:02:04
• semanticscholar https://doi.org/10.1108/ijesm-10-2025-0056first seen 2026-09-12 05:23:55 · last seen 2026-09-22 04:57:41