How government expenditure Mitigates emissions: A step towards sustainable green economy in belt and road initiatives project

It is vital to conduct a comprehensive evaluation of the efficiency of the green economy and draw parallels alongside emissions cuts, to attain the goal of sustainable green economic advancement. In this vein, this research examined the impact of expenditure from the state on the performance of the green economy of varied nations under the industrialized and emerging projects. The study makes use of panel data ranging from 2008–2018 concerning the Belt and Road Initiative (BRI) nations. The findings lead credence to the assertion that expenditure on research and development adds directly to cuts of carbon dioxide pollution levels for the industrialized nations. Concerning the regions, the corrective impact of the industrialized and emerging nations relative to the statistics within the BRI is brought to light. Similarly, the financial development is correlated to the growth of carbon dioxide pollution, implying that an increment in energy consumption results in an expansion in pollution. Furthermore, the advanced, as well as emerging nations, is where the impact of this variable is benign, next to the United States that has more polluting consumption sources. The findings for China are unique, owing to its ecological and economic performance.