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

金融全球化与地缘政治风险下的经济增长:以中俄远东联邦区为例

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Abstract

Geopolitics, natural resource efficiency and financial globalization have arisen as a new concept for low CO(2) 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(2) neutrality targets. In order to understand the elements that contribute to achieving CO(2) 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(2) 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(2) neutrality. As a result, the ecological Kuznets curve rules the economic landscape, and long-term CO(2) 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.

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