The role of eco-innovation, eco-investing, and green bonds in achieving sustainable economic development: evidence from Vietnam

Abstract

The perpetual upsurge of global economic development and human actions has multiplied the intensity of carbon emissions that signifies the effectiveness eco-innovation, eco-investment and green bonds in order to curb carbon emissions. Thereby, the study attempts to examine the impact of eco-innovation, eco-investment, and green bonds on the achievement of sustainable economic development (S.E.D.) in Vietnamese economy. Secondary data was used and extracted from Organization for Economic Co-operation and Development (O.E.C.D.), central bank, and World Development Indicators (W.D.I.) from 1991 to 2020. Techniques such as dynamic Auto-regressive Distributed Lags (D.A.R.D.L.) model and Bayesian Auto-regressive Distributed Lags (B.A.R.D.L.) were employed to evaluate the relationship. Findings echo that that eco-innovation, eco-investment, green bonds, industrialisation, inflation, and employment rate share positive connection with the achievement of S.E.D. in Vietnam. The study guides the policy-making authorities that they should establish the policies related to S.E.D. by using eco-innovation and eco-investment.