本研究调查了能源部门可持续投资之间的动态互动关联,空气污染,和可持续发展。为此,它采用了“一步”系统广义矩方法(GMM)和“一步”微分GMM估计器,涵盖1996年至2017年期间。在这种情况下,它利用动态面板数据模型的联立方程对中国27个省市的面板数据进行了分析。我们开发了一种新的可持续发展模式,其中纳入了能源部门的可持续投资和空气污染,为考虑潜在关系提供了坚实的理论基础。系统GMM估计器用于完整的数据集;然而,差分GMM用于数据子集,以解决小样本偏差问题。实证结果提供了几个重要的见解,因为它们为汇总的样本和数据子集提供了混合的发现。例如,所有小组都存在双向因果关系,除中部(中等发展区域)外,在能源部门的可持续投资和可持续发展之间。与此相反,因果关系从空气污染到能源部门的可持续投资,在一个完整的数据集和中心部分(中等开发。).然而,在中国东部(最发达的地区)情况正好相反。尽管如此,在西部(最不发达地区),同样的关系在两个方向上都有。在另一边,因果关系的反馈假设得到证实,在所有样本中,在空气污染和可持续发展之间。因此,可持续发展和空气污染是相互依存的,在中国经济的国家以及省市层面。
This research investigates the dynamic interactive associations among sustainable investment in the energy sector, air pollution, and sustainable development. To this end, it employs a \"one-step\" system-generalized method of moments (GMM) and \"one-step\" differential-GMM estimators, covering the period between 1996 and 2017. In this context, it utilizes the simultaneous equations of the dynamic panel data model for panel data of 27 Chinese provinces and municipalities. We have developed a new model of sustainable development, which incorporates sustainable investment in the energy sector and air pollution to offer a robust theoretical foundation for considering the underlying relations. The system-GMM estimator is used for the full data set; however, differential-GMM is utilized for the subsets of data, in order to tackle the small sample bias problem. The empirical outcomes provide several vital insights in that they yield mixed findings for the aggregated sample and subsets of data. For example, a two-way causal relationship occurs for all the panels, except the central part (medium development regions), between sustainable investment in the energy sector and sustainable development. Contrary to this, causality runs from air pollution to sustainable investment in the energy sector in a full data set and the central part (medium dev.). Nevertheless, the opposite is true in the case of the eastern part (most developed regions) of China. Still, the same relationship runs in either direction in the case of the western part (least developed regions). On the other way around, the feedback hypothesis of causality is confirmed, across all the samples, between air pollution and sustainable development. Hence, sustainable development and air pollution are overwhelmingly interdependent, in the country as well as the province and municipality level of the Chinese economy.