Economics

Utilizing mutual learning in literature and cultural industry finance in order to realise green economic recovery and sustainability

C. Wang, J. Zhang, et al.

This study by Chao Wang, Jingfeng Zhang, and Ming Zhang explores how cultural and creative industries finance can drive green economic growth across 16 EU countries. Discover the significant link between CCI market size, green innovation, and green bonds. The findings emphasize the importance of developing sustainable financing tools and promoting trade in cultural goods to enhance the green economy.

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Playback language: English

Index

Abstract

This paper investigates the impact of cultural and creative industries (CCI) finance on green economic growth in 16 European Union countries from 2012 to 2021. Using the Arellano-Bond dynamic GMM technique, the study finds a positive and significant relationship between CCI market size, green innovation, financial market openness, cultural goods trade, and green bonds, and the green economy index. Policy implications include developing green financing tools, utilizing green cryptocurrencies, promoting multilateralism in cultural goods trade, fostering cross-cultural exchange, and providing green government support for SMEs in the cultural industry.

Publisher

Humanities and Social Sciences Communications

Published On

Sep 01, 2023

Authors

Chao Wang, Jingfeng Zhang, Ming Zhang

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