{"title":"Exploring the Effects of Green Finance on Inclusive Growth: Empirical Evidence From African Countries","authors":"Djimoudjiel Djekonbe, Petre Brezeanu, Ştefan Cristian Gherghina, Mouta Mahamat Djourabi","doi":"10.1002/jid.70069","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>This study examines the impact of green finance on inclusive growth in African countries from 2015 to 2024, focusing on transmission channels involving energy sources and institutional factors. Panel data from African economies are used to construct a multidimensional inclusive growth index based on income, education, health, electricity access and digital connectivity. Applying Driscoll–Kraay robust standard errors to address cross-sectional dependence and error structures, the analysis finds mixed effects: Green finance does not uniformly enhance inclusive growth but proves more effective when directed towards renewable energy rather than nonrenewable sources. Government stability and sectoral allocation critically moderate outcomes. Policy recommendations stress accelerating renewable energy transitions, improving governance and adopting targeted sectoral strategies to maximize socio-economic benefits.</p>\n </div>","PeriodicalId":47986,"journal":{"name":"Journal of International Development","volume":"38 3","pages":"553-569"},"PeriodicalIF":2.0000,"publicationDate":"2026-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Development","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/jid.70069","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2026/2/9 0:00:00","PubModel":"Epub","JCR":"Q3","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}
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Abstract
This study examines the impact of green finance on inclusive growth in African countries from 2015 to 2024, focusing on transmission channels involving energy sources and institutional factors. Panel data from African economies are used to construct a multidimensional inclusive growth index based on income, education, health, electricity access and digital connectivity. Applying Driscoll–Kraay robust standard errors to address cross-sectional dependence and error structures, the analysis finds mixed effects: Green finance does not uniformly enhance inclusive growth but proves more effective when directed towards renewable energy rather than nonrenewable sources. Government stability and sectoral allocation critically moderate outcomes. Policy recommendations stress accelerating renewable energy transitions, improving governance and adopting targeted sectoral strategies to maximize socio-economic benefits.
期刊介绍：
The Journal aims to publish the best research on international development issues in a form that is accessible to practitioners and policy-makers as well as to an academic audience. The main focus is on the social sciences - economics, politics, international relations, sociology and anthropology, as well as development studies - but we also welcome articles that blend the natural and social sciences in addressing the challenges for development. The Journal does not represent any particular school, analytical technique or methodological approach, but aims to publish high quality contributions to ideas, frameworks, policy and practice, including in transitional countries and underdeveloped areas of the Global North as well as the Global South.
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