Can green finance and natural resources unlock economic resilience : A focus on asean's economy

Abstract

This study examines the interplay between green finance, natural resources, and economic resilience in ASEAN nations during the period 2000–2021. Employing advanced econometric techniques such as panel cointegration and Dumitrescu–Hurlin causality analysis, the research investigates how green economic growth, energy consumption, financial development, and natural resource rents influence carbon emissions. The findings reveal that CO2 emissions are primarily driven by economic growth and energy use, while financial development can reduce emissions when integrated with sustainable strategies. Green finance is highlighted as a critical tool for promoting industrial transformation and enhancing economic resilience, yet reliance on natural resources continues to pose significant environmental challenges. The study emphasizes the urgent need for policies that combine green finance mechanisms, promote sustainable practices, and encourage regional collaboration to achieve long-term economic and environmental sustainability. These insights are particularly valuable for ASEAN nations, including Vietnam, in designing strategies that effectively balance economic development with environmental preservation