1. Liner shipping connectivity: A dynamic link between energy trade, green exchange and inclusive growth using advanced econometric modelling.
- Author
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Jin, Yingying, Li, Heng, Yu, Yi, and Ahmad, Umar Suffian
- Subjects
BLUE economy ,ECONOMETRIC models ,TECHNOLOGICAL innovations ,BELT & Road Initiative ,SUSTAINABLE development - Abstract
The ocean economy is crucial in facilitating green exchanges and promoting inclusive growth. Despite its significance, this domain needs more investigation, leading to diverse findings in existing literature. This study empirically examines the links between energy trade, green exchanges, and inclusive growth within the context of the ocean economy in the Belt and Road Initiative (BRI) region. Using the Liner Shipping Connectivity Index as a proxy for ocean economy and debt-for-nature swaps as a proxy for green exchanges, we employ an advanced Two-Step System of GMM econometric modelling. Data from 23 BRI member countries, sourced from WDI (World Bank), OECD Statistics, and UNCTAD Statistics, covering the period from 2004 to 2022, form the basis of our analysis. Our findings confirm a long-run dynamic relationship between the ocean economy, energy trade, green exchanges, and inclusive growth. The results indicate that the ocean economy and debt-for-nature swap financing contribute to economic growth. However, results show a weak marine structural development because the results are not highly significant. To address this, we propose comprehensive policy measures to strengthen structural development to enhance inclusive economic growth. Our study highlights the need for strategic policies that balance economic benefits with sustainability goals, leveraging technological advancements and promoting equitable growth. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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