Unveiling the Evolution of Green Finance through Bibliometric and Content Analysis
Beatrice-Larisa Dumnici, Monica Violeta Achim, Cristina Bota-Avram
Keywords:
green finance, sustainable finance, environmental finance, carbon finance, ESG, bibliometric analysis
Abstract:
This study examines the literature on green finance and associated concepts, including sustainable finance, environmental finance, and carbon finance. It analyses contributions, constraints, and evolutionary trends throughout time and thematic categories. A central objective is to assess how the development of green finance shapes economic and corporate competitiveness in the context of the global transition toward a low-carbon and resilient economic system. The paper employs bibliometric analysis on 1,712 articles indexed in the Web of Science database for the period 2005–2025. Using Biblioshiny in RStudio, the study investigates publication dynamics, influential journals and authors, and the intellectual structure of the field. Complementing this, a content analysis of 30 highly relevant articles provides qualitative insights into methodological patterns and theoretical approaches. The findings reveal a significant expansion of research on green finance, driven by regulatory pressures, sustainability-oriented investment strategies, and the increasing urgency of climate policy goals. The analysis highlights that green finance can enhance competitiveness by fostering eco-innovation, improving risk management, and attracting long-term responsible capital. Nevertheless, the literature also points to persistent challenges, including conceptual ambiguities, regulatory inconsistencies, and uneven global adoption, which may limit competitiveness outcomes. This study identifies major research clusters and emerging themes, reflecting both consolidation and fragmentation within the field. Overall, this research offers an integrated evidence-based perspective, clarifies the link between green finance and competitiveness, and outlines promising avenues for future research aligned with the focus of the journal on competitiveness and sustainable economic performance.
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 10.7441/joc.2026.SI.12
Dumnici, B.-L., Achim, M. V., & Bota-Avram, C. (2026). Unveiling the Evolution of Green Finance Through Bibliometric and Content Analysis. Journal of Competitiveness, 18(SI 2), 67–107. https://doi.org/10.7441/joc.2026.SI.12
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