1. Global-local nexus in sustainable development: the influence of international green investment on local environmental spending.
- Author
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Xu, Jingyuan and Zhang, Yue
- Subjects
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FINANCIAL literacy , *SUSTAINABLE investing , *FOREIGN investments , *CAPITAL investments , *INTERNATIONAL finance , *CLEAN development mechanism (Emission control) - Abstract
Strengthening the financial capabilities of local governments is essential for achieving the Sustainable Development Goals. Previous research has primarily focused on the flows of finance across countries and regions, neglecting the interaction between international investment and local fiscal response. To address this gap, this study first developed the typology of local environmental spending, and then linked it to a panel dataset composed of 4,439 CDM projects in China and expenditure at the provincial level from 2005 to 2017 to explore the role of international green finance. By categorizing local environmental spending into capital spending and recurrent spending, the findings reveal that international green investment primarily influences the former type, with regional and project type variations. With explanation and discussions of the results, this study contributes to sustainability research by investigating the global-local nexus through a fiscal lens and provides policy insights for local capacity building and global financial system design. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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