THE IMPACT OF MONETARY POLICY ON GREEN INNOVATION: GLOBAL EVIDENCE

被引：47

作者：

Yin, Hua-Tang ^{[1
]}

Chang, Chun-Ping ^{[2
]}

Wang, Haijie ^{[3
]}

机构：

[1] Xi An Jiao Tong Univ, Sch Econ & Finance, Xian, Shaanxi, Peoples R China

[2] Shih Chien Univ, Kaohsiung, Taiwan

[3] Zhengzhou Univ, Business Sch, Zhengzhou, Peoples R China

来源：

TECHNOLOGICAL AND ECONOMIC DEVELOPMENT OF ECONOMY | 2022年 / 28卷 / 06期

关键词：

green innovation; monetary policy; environmental regulation; ENVIRONMENTAL INNOVATION; PANEL-DATA; DETERMINANTS; TRANSMISSION; INDICATORS;

D O I：

10.3846/tede.2022.17020

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This research investigates and robustly verifies the impact of expansionary monetary policy actions on green innovation, conducted on a panel covering 133 countries from 1960 to 2018. Overall, we find that such actions have a significantly positive effect on green innovation performance, no matter in the static or dynamic model. A lower degree of central bank inde-pendence and poorer property rights protection in developing countries may hinder monetary policies' effect to be transmitted to green innovation activities smoothly. Moreover, stringent environmental regulation contributes to magnifying the expansionary monetary policy's posi-tive effect on green innovation, but such a positive moderating effect should be supported by good national governance quality (including better control over corruption, higher efficiency of governments and a complete law system). Accordingly, several policy suggestions are provided.

引用

页码：1933 / 1953

页数：21

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