Economics

Utilizing virtual arts in reforming market players' behavior to invest in sustainability projects

A. Xu and J. Zhang

This fascinating study by Aidi Xu and Jie Zhang delves into the expansion of China's virtual arts market and its significant impact on private sustainable investment from 1985 to 2021. It reveals that a mere 1% increase in the virtual arts market can cause a temporary surge of 0.46% and a lasting rise of 0.38% in sustainable investments. Explore how social factors and economic trends intertwine in this transformative market!

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Playback language: English

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Abstract

This study investigates the influence of the expansion of the virtual arts market on private sustainable investment in China from 1985 to 2021, using the autoregressive distributed lag model. Results show that a 1% rise in the virtual arts market correlates with a short-term surge of around 0.46% and a lasting increase of 0.38% in private sustainable investment. Factors like social inclusion, privatization, economic size, financial development, and renewable deployment significantly shape private sustainable investment. Policy recommendations include integrating sustainability into education, establishing online platforms for sustainable virtual arts, cultivating green financing markets, and promoting collaborations among virtual arts institutions.

Publisher

Humanities & Social Sciences Communications

Published On

Feb 06, 2024

Authors

Aidi Xu, Jie Zhang

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