Year: 2023
Type: article
Abstract: Green finance is a vital foundation for fundamental economic lowcarbon transformation.Therefore, this study examines the effect of green finance on low-carbon economic development by applying various panel estimators including panel threshold model using data set of 30 provincial administrations in China during 2008-2020.The statistical results suggest that green finance significantly stimulates low-carbon economic development based on a carbon emission and emission intensity perspective.Green finance is more effective in promoting low-carbon economic development in the mid-western areas than in the eastern areas, while it is more effective in less economically developed areas than economically developed areas.Green finance is primarily responsible for driving lowcarbon economic development, which is accomplished mainly by stimulating industrial structure upgrading and science and technology investment scale.The threshold outcome reveals that when green finance levels cross a certain threshold, their contribution to low-carbon economic development decreases.These findings offer valuable policy implications.
Authors: Qi Cui, Xiaoyu Ma, Sisi Zhang
Institution: Xinjiang University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $944
OpenAlex ID: W4376605484