How R&D expenditure intermediate as a new determinants for low carbon energy transition in Belt and Road Initiative economies

Abstract

Green economic growth and sustainable development are inextricably linked, and encouraging green economic growth has practical implications in today's world. In this context, this study examines the impact of environmental regulation on renewable energy development and China's green economy from 1990 to 2018. We look at how environmental regulations affect green economic growth and renewable energy technologies. Using the Meta frontier SBM model's super-efficient data envelopment analysis, it is possible to determine the relative level of green economic growth in China's provinces based on their energy efficiency. Environmental regulations were also assessed using an improved fuzzy inclusive appraisal method. Finally, we investigate the possible mechanism and discuss our findings. The study discovered an unreliable indicator of green growth during the research period, attributed to the non-serious nature of government strategies. The results show that the DEA method consistently confirms how the piece is put together. On the other hand, the sub-results models invariably affect countries with high GDP per capita. Finally, the impact of environmental regulations on the growth of renewable energy sources was studied. Green economic growth depends on environmental regulation policies, which contribute significantly to renewable energy development. Population size, economic development level, technological innovation, industrial structure, urbanization, environmental regulation, and FDI influence green economic growth, but the spatial effect of each influencing factor varies. The findings of this paper form the basis for China's pursuit of green economic growth and the development of renewable energy policies.