Green Finance as a Driver of Economic Prosperity in Emerging Economies: Evidence from Nigeria
Abstract
This study examines the impact of green finance on Nigeria’s economic prosperity from 2011 to 2022, focusing on both short- and long-run effects. Leveraging the Sustainable Development Theory, Endogenous Growth Theory, and the Solow–Swan model, the research investigates how instruments such as sovereign green bonds, climate finance inflows, and green bank credit influence GDP growth. Using an explanatory quantitative design and the Autoregressive Distributed Lag (ARDL) model. The study accounts for causality and endogeneity while analyzing time-series data from credible sources. Results indicate that green finance positively affects long-term economic growth, whereas rising CO? emissions have a negative impact. Short-run effects are smaller but still significant, highlighting the immediate benefits of green finance policies. The study bridges gaps in literature by integrating multiple green finance tools and incorporating sustainability dimensions alongside economic metrics. Findings offer policy insights for scaling green finance initiatives, strengthening regulatory frameworks, and promoting investment in renewable energy and sustainable infrastructure to support inclusive and environmentally resilient growth in emerging economies.
Citations
IRE Journals:
Chiamaka Vivian Ekwerekwu, Light Eze Nwokedi, Nnaemeka Anuforo "Green Finance as a Driver of Economic Prosperity in Emerging Economies: Evidence from Nigeria" Iconic Research And Engineering Journals Volume 9 Issue 4 2025 Page 1804-1811
IEEE:
Chiamaka Vivian Ekwerekwu, Light Eze Nwokedi, Nnaemeka Anuforo
"Green Finance as a Driver of Economic Prosperity in Emerging Economies: Evidence from Nigeria" Iconic Research And Engineering Journals, 9(4)
About IRE Journals
IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
Important Links
For Authors
Volume 8:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 7:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 6:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 5:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 4:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 3:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12