Journal
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
Volume 186, Issue -, Pages -Publisher
ELSEVIER SCIENCE INC
DOI: 10.1016/j.techfore.2022.122185
Keywords
Digitalization; Financial development; Green investment; Vietnam; Quantile regression
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This study analyzes the promotion of economic sustainability in Vietnam through green investment, digitalization, and financial development. The relationship between digitalization, green investment, financial development, and sustainable development has not been thoroughly investigated, particularly in Vietnam. The study adopts a novel three-stage methodology that includes quantile-on-quantile regression, Granger causality in quantiles, and wavelet analysis.
This study analyzes how economic sustainability in Vietnam could be promoted by realizing opportunities represented by green investment, digitalization, and financial development. The relationship between digitali-zation, green investment, financial development, and sustainable development has yet to be thoroughly inves-tigated. In addition, no research has been conducted in Vietnam on the relationship between these indicators to the best of our knowledge. By doing so, we adopt a novel three-stage methodology comprising quantile-on-quantile regression developed by Sim and Zhou (2015), Granger causality in quantiles proposed by Troster (2018), and wavelet analysis. The findings demonstrate a strong positive effect of digitalization, green invest-ment, and financial development on economic sustainability in Vietnam across most quantiles, indicating that investment in green resources, technology innovation, and financial development supports the country's tran-sition to sustainable development. Overall, the empirical findings show that digitalization, green investment, and financial development can all play a significant role in significantly increasing the sustainability of Vietnam's current high economic growth trajectories. The findings could create a roadmap for developing countries to use technology innovation, green investment, and financial development in productive sectors to accomplish sus-tainable development goals.
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