dc.contributor.author |
Lubinga, Moses Herbert
|
|
dc.contributor.author |
Mazenda, Adrino
|
|
dc.date.accessioned |
2024-10-21T11:53:09Z |
|
dc.date.available |
2024-10-21T11:53:09Z |
|
dc.date.issued |
2024-02 |
|
dc.description |
DATA AVAILABILITY STATEMENT :
Data is contained within the article. |
en_US |
dc.description.abstract |
Sustainable Development Goal 13 echoes the fact that all countries must make urgent and stringent efforts to mitigate against and adapt to climate change and its associated impacts. Climate financing is one of the key mechanisms used to enable countries to remain resilient to the hastening effects of climate change. In this paper, we empirically assess the effect of institutional governance indicators on the amount of climate finance received by 21 nations for which progress towards the internationally agreed-upon target of reducing global warming to 1.5 °C is tracked. We use the fixed-effects ordinary least squares (OLS) and the feasible generalized least squares (FGLS) estimators, drawing on the Climate Action Tracker panel data from 2002 to 2020. Empirical results reveal that perceived political stability significantly enhanced climate finance inflows among countries that strongly increased their NDC targets, while perceived deterioration in corruption control negatively impacted the amount of climate finance received by the same group of countries. Therefore, governments should reduce corruption tendencies while striving to avoid practices and alliances that lead to any form of violence, including terrorism and civil war. Low developing countries (LDCs) in particular need to improve the standard of public services provided to the populace while maintaining a respectable level of autonomy from political influences. Above all, as countries work towards strengthening institutional governance, there is an urgent need for developed economies to assist developing economies in overcoming debt stress since the likelihood of future resilience and prosperity is being undermined by the debt crisis, with developing countries spending almost five times as much annually on repayment of debt as they allocate to climate adaptation. |
en_US |
dc.description.department |
School of Public Management and Administration (SPMA) |
en_US |
dc.description.librarian |
hj2024 |
en_US |
dc.description.sdg |
SDG-13:Climate action |
en_US |
dc.description.uri |
https://www.mdpi.com/journal/economies |
en_US |
dc.identifier.citation |
Lubinga, Moses Herbert,
and Adrino Mazenda. 2024. Empirical
Analysis of the Effect of Institutional
Governance Indicators on Climate
Financing. Economies 12: 29. https://doi.org/10.3390/economies12020029. |
en_US |
dc.identifier.issn |
2227-7099 (online) |
|
dc.identifier.other |
10.3390/economies12020029 |
|
dc.identifier.uri |
http://hdl.handle.net/2263/98688 |
|
dc.language.iso |
en |
en_US |
dc.publisher |
MDPI |
en_US |
dc.rights |
© 2024 by the authors.
Licensee MDPI, Basel, Switzerland.
This article is an open access article
distributed under the terms and
conditions of the Creative Commons
Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). |
en_US |
dc.subject |
Climate finance |
en_US |
dc.subject |
Climate action tracker |
en_US |
dc.subject |
Corruption |
en_US |
dc.subject |
Feasible generalized least squares (FGLS) estimator |
en_US |
dc.subject |
Panel data |
en_US |
dc.subject |
Sustainable development goals (SDGs) |
en_US |
dc.subject |
Low developing countries (LDCs) |
en_US |
dc.subject |
SDG-13: Climate action |
en_US |
dc.title |
Empirical analysis of the effect of institutional governance indicators on climate financing |
en_US |
dc.type |
Article |
en_US |