System Transition to the «Eco-Finance» Sustainable Growth: Evidence from Chinese and Russian Oil and Gas Companies
https://doi.org/10.38050/01300105201944
Abstract
In this paper, we study how financial sustainable growth matters for environment protection and social responsibility. Financial decisions that take into account long-term social and environmental consequences should be central to the system of financially sustainable growth of oil and gas companies of the world, including Russia and China. Authors present Russia and China oil and gas industry system transition to «Green Finance» sustainable growth model results with interrelation financial, environmental and social factors. Study regarded in the context of economic growth theory, system economics theory and the theory of relativity. It was created Python 3.6. financial sustainable growth model for Russia and China. A dynamic model was built on the basis of the Ricci tensor. For sustainable growth intensity analysis, it was compared Financial sustainable index (FSI), Higgins’ sustainable growth rate (SGR), Ivashkovskaya’ sustainable growth index (SGI), Ivashkovskaya’ sustainable growth index modification (SGImodif) every period indicators’ average values and the graph’ average values of the Ricci curvatures (R). Using the Ricci curvature, the parameters of a dynamic model of sustainable growth are determined for Russia and for China oil and gas industry.Key words: sustainable growth, System Dynamic modelling, Ecological Finance, Ricci Curvature, environmental financial sustainable growth, Financial Sustainable Index (FSI).
About the Authors
A. N. Steblyanskaya
Harbin Engineering University, School of Economics and Management (Harbin, China); Central Economics and Mathematical Institute, Russian Academy of Science (CEMI RAS) (Moscow, Russia)
Russian Federation
Russian Federation
Wang Zhen
China University of Petroleum / Academy of Chinese Energy Strategy
China
China
Beijing
N. T. Gabdrahmanova
The Peoples' Friendship University of Russia
Russian Federation
Russian Federation
Moscow
U. A. Aleroev
The Peoples' Friendship University of Russia
Russian Federation
Russian Federation
Moscow
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Review
For citations:
Steblyanskaya A.N., Zhen W., Gabdrahmanova N.T., Aleroev U.A. System Transition to the «Eco-Finance» Sustainable Growth: Evidence from Chinese and Russian Oil and Gas Companies. Moscow University Economics Bulletin. 2019;(4):42-59. (In Russ.) https://doi.org/10.38050/01300105201944
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