The Role of Green Financing in the Growth and Development of the Transportation Sector

Document Type : Original Article

Authors
Muhaddeseh Tavakoli
Hoshang Momeni Vasalian
Ali Asghar Ismail Nia Getabi
Roya Seifipour
Department of Economics, Central Tehran Branch, Islamic Azad University, Tehran, Iran.
10.22034/road.2024.479252.2320
Abstract
Green financing is a process in which countries receive facilities based on environmental conditions and risk assessment is done to meet sustainable environmental standards and avoid environmental risks. On the other hand, transportation is one of the important sectors of the country's economy and has a great impact on the country's economic growth. Therefore, considering the importance and role of green financing in increasing the country's economic growth and also the importance of transportation in the country's economy, in this study, the analysis of short-term and long-term relationships between the index of green financing and the economic growth of the transportation sector has been investigated. For this purpose, first the green financing index was calculated and then the short-term and long-term relationships between the green financing index and the economic growth of the transportation sector were analyzed. The results show that both in the short term and in the long term, the green financing index has a positive effect on the added value of the transportation sector. Also, according to the error correction coefficient, it can be stated that the speed of adjustment towards the equilibrium and long-term value is appropriate, so that in each period about 0.12 of the imbalance error is adjusted and the short-term value tends towards its equilibrium and long-term value exponentially. Finally, the results show that the coefficients of the variables are stable during the investigated period.
Keywords
Green Financing
Autoregressive Distributed Lag
Error Correction Model
Transportation Sector
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