Financial Development and Sustainable Competitiveness in Arctic Region: A Dynamic Panel Data Analysis
نویسندگان
چکیده
The present study investigates the effect of financial development on sustainable competitiveness and its components (natural capital, resource intensity, social cohesion) in Arctic region. We employ bank-based, stock-market based, composite index to measure development. To deal with endogeneity bias, system GMM is utilized. results show a positive significant competitiveness. estimates also assert that encourages efficiency cohesion In contrast, we find negative natural capital. This suggests overexploitation resources may provide short-term benefits local regional communities but it threaten long-term sustainability Arctic. Thus, sector should be guided support financing investing activities alternative eco-friendly technologies ventures for reducing excessive utilization.
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ژورنال
عنوان ژورنال: Problemy Ekorozwoju
سال: 2022
ISSN: ['1895-6912', '2080-1971']
DOI: https://doi.org/10.35784/pe.2022.1.24