Green Growth and Financial Development in OECD Economics

The paper investigates the banking system's effect on green economics in OECD economics. It investigates the relationship among factors such as sustainable energy utilization, human capital, sustainable energy technologies, financial expansion, ecological footprint, and green growth during 2010–2020. The study employs the three ARDL models containing;[PMG; MG; DFE]. Finally, Dumitrescu and Horlin causality test was used to see the causal relationship between the variables. The results suggest that human capital, financial development, renewable energy, and technologies promote green economic growth. The causality test results demonstrate that human capital development and FD have a bidirectional causal link with green economics.