The impact of green investment on the electric vehicle market and sustainable development in oecd countries: An empirical lesson for Viet Nam

Abstract

This study aim to examine the impact of green investment on the electric vehicle market as well as sustainable development in 31 OECD countries through a ten-year period of 2011-2020. Rather than just combine the data of electric vehicle market into the variable of sustainable development, we separate them into two different variables. This approach enables our group to have deeper understandings of each of the variable in 31 nations in the OECD, enhancing the precision of our research. By using different regression models, our group has discovered that green investment has a negative impact on the electric vehicle market, while sustainable development is positively impacted by green investment. Other results also show that GDP and production cost both have a positive influence on the electric vehicle market. As for sustainable development, the results are divided into two groups: group 1 consists of CO2 emissions and urbanization, both negatively impact sustainable development while group 2, which includes political stability and production cost, positively influences sustainable development. Our group hopes these findings might contribute significantly to the adaptation of green investment around the world, especially in Vietnam, and we also suggest a few policies including green credits and promotion programs with many incentives for businesses so as to improve the overall growth of both electric vehicle market and sustainable development