Financial globalization and economic growth amid geopolitical risk: A study on China-Russia far East federal district.

Zhuojun Wang, Muhammad Sibt-E-Ali
Author Information
  1. Zhuojun Wang: Business School of the University of Sydney, New South Wales, 2006, Australia.
  2. Muhammad Sibt-E-Ali: Business School, Zhengzhou University, Zhengzhou, 450001, China.

Abstract

Geopolitics, natural resource efficiency and financial globalization have arisen as a new concept for low CO to achieve sustainable economic growth (EG). Therefore, developed and developing economies focus on Geopolitics risk (GPR), natural resource (NRS) efficiency and financial globalization (FG) to cope with CO neutrality targets. In order to understand the elements that contribute to achieving CO neutrality, this study sought to establish a relevant connection between geopolitics, the efficiency of NRS, financial globalization (FNG), and economic growth. For the abovementioned objectives, modern econometric methods, such as the canonical cointegration, CS-FGLS and GMM were adopted to evaluate the China-Russia Far East dataset between 1990 and 2022. In order to achieve CO neutrality in the long run, the study's elements are crucial, according to the results. In addition, GMM shows that each of the parameters affects CO neutrality. As a result, the ecological Kuznets curve rules the economic landscape, and long-term CO neutrality is greatly facilitated by geopolitics, efficient use of natural resources, financial globalization, and economic growth. Consequently, numerous domains necessitate far-reaching and revolutionary policy changes, such as economic integration to mitigate geopolitical risk, effective management of natural resources, efficient financial systems, and sustainable technology.

Keywords

References

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