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Do Financial Regulation and Technology Matter in Fostering Green Growth?

Economics Development Analysis Journal · Vol. 13 No. 3 (2024)

DOI
10.15294/edaj.v13i3.7904
ISSN
2502-2725, 2252-6560
Published
2024-09-26
Publisher
Universitas Negeri Semarang
Language
eng

Abstract

Effective regulation and technological innovation are key factors in driving the implementation of green growth initiatives. This research investigates how financial regulation and technological innovation influence green growth, proxied by carbon productivity, with data from 1996 to 2020 across ASEAN-5 Countries. A Panel Dynamic Ordinary Least Square (DOLS) model is conducted to analyze the long-run effect on each variable. The result showed that financial regulation, proxied by regulatory quality and economic freedom, positively and significantly influences green growth. Meanwhile, technological innovation has a positive but not significant influence on green growth. According to the findings, this study proposes adopting top-tier regulations and a step-by-step approach to realizing green growth. Meanwhile, the government can also open an investment as funding to improve innovation in green technology

Keywords

Collaboration network of the authors

40 authors · 92 co-authorship links · 1 across different organisations · showing the 40 most connected

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • Universitas 17 Agustus 1945 Surabaya
  • State University of Semarang
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Avi Budi SetiawanAffiliation unknown4
Ita NuryanaAffiliation unknown2
Shanty OktaviliaAffiliation unknown2
Grace Natalia MarpaungAffiliation unknown2
Yozi Aulia RahmanAffiliation unknown2
Supangat SupangatUniversitas 17 Agustus 1945 Surabaya1
Fridy ManditaUniversitas 17 Agustus 1945 Surabaya1
Kamal RamadhaniAffiliation unknown1
Mia LiliawatiAffiliation unknown1
Rista MaulidinaAffiliation unknown1
Rana Sharjeel AkhtarAffiliation unknown1
Muh. Adrikni Al HakimAffiliation unknown1
Lutfiani Puspita DewiAffiliation unknown1
Indung WijayantoState University of Semarang1
Cahya WulandariState University of Semarang1
Sarah Rinda SulistyoningrumAffiliation unknown1
Medi ElfianiAffiliation unknown1
Annis Nurfitriana NihayahAffiliation unknown1
TutikAffiliation unknown1
Eka RochaningrumAffiliation unknown1
Kurniasih KurniasihAffiliation unknown1
Shella Monica FatimahtuzzahraAffiliation unknown1
Anik SusantiAffiliation unknown1
Gilang Fajar KurniawanAffiliation unknown1
Deky Aji SusenoAffiliation unknown1
Elvira Latifa IsnainiAffiliation unknown1
Anton SupriyadiAffiliation unknown1
Rini DiastutiAffiliation unknown1
Destin Witari TazaruwahAffiliation unknown1
Wiwiet Septiani RahayuAffiliation unknown1
Putri Suri KinasihAffiliation unknown1
Novi Nur AzizahAffiliation unknown1
Havidz Aldi SetiawanAffiliation unknown1
Sucihatiningsih Dian Wisika PrajantiState University of Semarang1
Ahmad Syahrul FauziAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/edaj/oai, first harvested 5 Nov 2026, last seen 5 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en">Do Financial Regulation and Technology Matter in Fostering Green Growth?</dc:title>
	<dc:creator xml:lang="en">Dyah Maya Nihayah</dc:creator>
	<dc:creator xml:lang="en"> Rahmayani, Dwi</dc:creator>
	<dc:creator xml:lang="en">Afif Dhia Pratama</dc:creator>
	<dc:creator xml:lang="en">Fredericho Mego Sundoro</dc:creator>
	<dc:creator xml:lang="en">Hermanto, Agus</dc:creator>
	<dc:subject xml:lang="en">Dynamic Ordinary Least Square</dc:subject>
	<dc:subject xml:lang="en">Financial Regulation</dc:subject>
	<dc:subject xml:lang="en">Green Growth</dc:subject>
	<dc:subject xml:lang="en">Inclusive Growth</dc:subject>
	<dc:subject xml:lang="en">Technological Innovation</dc:subject>
	<dc:description xml:lang="en">Effective regulation and technological innovation are key factors in driving the implementation of green growth initiatives. This research investigates how financial regulation and technological innovation influence green growth, proxied by carbon productivity, with data from 1996 to 2020 across ASEAN-5 Countries. A Panel Dynamic Ordinary Least Square (DOLS) model is conducted to analyze the long-run effect on each variable. The result showed that financial regulation, proxied by regulatory quality and economic freedom, positively and significantly influences green growth. Meanwhile, technological innovation has a positive but not significant influence on green growth. According to the findings, this study proposes adopting top-tier regulations and a step-by-step approach to realizing green growth. Meanwhile, the government can also open an investment as funding to improve innovation in green technology</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2024-09-26</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/edaj/article/view/7904</dc:identifier>
	<dc:identifier>10.15294/edaj.v13i3.7904</dc:identifier>
	<dc:source xml:lang="en">Economics Development Analysis Journal; Vol. 13 No. 3 (2024): Economics Development Analysis Journal</dc:source>
	<dc:source>2502-2725</dc:source>
	<dc:source>2252-6560</dc:source>
	<dc:source>10.15294/edaj.v13i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/edaj/article/view/7904/1549</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2024 Economics Development Analysis Journal</dc:rights>
</oai_dc:dc>