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June 30, 2026Pakistan journal of commerce and social sciencesOpen Access

Climate Resilience, Green Finance and Sustainable Economic Development: An Evidence from High and Upper-Middle-Income Countries

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Authors

GQGhulam Muhammad QamriMSMuhammad SaeedSMSamariddin Makhmudov

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Overview

Panel econometric analysis reveals combined positive impacts of green finance and climate resilience on sustainable growth across 38 nations, highlighting the need for coordinated investment policies.

Key Points

  • To assess the individual and combined effects of green finance and climate resilience on sustainable economic development in high- and upper-middle-income countries.
  • Analyzed annual panel data covering 38 high and upper-middle-income countries from 2011 to 2019.
  • Employed an augmented system generalized method of moments (system GMM) estimator to account for dynamic dependence, simultaneity, and endogeneity.
  • Climate resilience and green finance jointly exerted statistically significant positive effects on sustainable economic development, largely propelled by renewable energy transitions, green infrastructure, and low-carbon technologies.
  • Green finance and climate resilience demonstrated a statistically significant negative relationship with each other, pointing to friction or competing resource allocation between the two areas.
  • Countries with greater capital allocation toward green finance and climate-control initiatives achieved comparatively higher trajectories of sustainable economic progress.

Cite This Study

Qamri et al. (2026) studied this question.

synapsesocial.com/papers/6ab234243a0674efa65c848dhttps://doi.org/10.64534/commer.2026.683
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