The Role of Innovation Development in Advancing Green Finance DOI Open Access
Aleksy Кwilinski, Oleksii Lyulyov, Tetyana Pimonenko

et al.

Journal of risk and financial management, Journal Year: 2025, Volume and Issue: 18(3), P. 140 - 140

Published: March 7, 2025

This study aims to investigate how innovation development drives green finance in the Visegrad countries by analyzing role of R&D investments, high-tech trade, and patent activity attracting greenfield investments. Using a vector autoregression (VAR) model with data from 2007 2022, this employs forecasting techniques, impulse response functions, variance decomposition analyses assess dynamic relationship between financial flows. The findings reveal that expenditures are strongest driver explaining over 93% Poland Hungary. High-tech trade significantly influences investment trends, contributing up 84% Czech Republic, while applications initially boost investments but show diminishing returns time. Although innovation-driven remain stable overall, impact patents varies across countries, reflecting regional differences. identifies key challenges, such as commercialization gaps policy disparities, highlighting need for targeted policies. To sustain growth, policymakers should expand funding, strengthen infrastructure, enhance intellectual property commercialization. Additionally, institutions investors play more active developing markets support long-term economic resilience sustainability.

Language: Английский

The Role of Innovation Development in Advancing Green Finance DOI Open Access
Aleksy Кwilinski, Oleksii Lyulyov, Tetyana Pimonenko

et al.

Journal of risk and financial management, Journal Year: 2025, Volume and Issue: 18(3), P. 140 - 140

Published: March 7, 2025

This study aims to investigate how innovation development drives green finance in the Visegrad countries by analyzing role of R&D investments, high-tech trade, and patent activity attracting greenfield investments. Using a vector autoregression (VAR) model with data from 2007 2022, this employs forecasting techniques, impulse response functions, variance decomposition analyses assess dynamic relationship between financial flows. The findings reveal that expenditures are strongest driver explaining over 93% Poland Hungary. High-tech trade significantly influences investment trends, contributing up 84% Czech Republic, while applications initially boost investments but show diminishing returns time. Although innovation-driven remain stable overall, impact patents varies across countries, reflecting regional differences. identifies key challenges, such as commercialization gaps policy disparities, highlighting need for targeted policies. To sustain growth, policymakers should expand funding, strengthen infrastructure, enhance intellectual property commercialization. Additionally, institutions investors play more active developing markets support long-term economic resilience sustainability.

Language: Английский

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