Phân cấp tài khóa, chất lượng thể chế và kinh tế xanh: Bằng chứng từ các nước ASEAN

Abstract

This study examines the complex relationship between fiscal decentralization and green economic development using panel data from six Southeast Asian countries for the period 2005-2022. Applying the System Generalized Method of Moments (System GMM) to control for endogeneity, the results reveal that fiscal decentralization has a negative impact on green economic development, as measured by Green Total Factor Productivity (GTFP). More importantly, this adverse effect is significantly mitigated by institutional quality. This finding implies that fiscal decentralization is not an inherently 'good' or 'bad' policy; its impact is conditional on the institutional context. Therefore, decentralization reforms must be pursued in tandem with strengthening public governance.