How does green finance affect the low-carbon economy? Capital allocation, green technology innovation and industry structure perspectives

Dados Bibliográficos

ID15068321
AutoresYue Zhu (0000-0002-2111-8580, Institute of Economic and Social Development, Dongbei University of Finance & Economics, Dalian, Liaoning, China), Juntao Zhang (0000-0003-4087-6798, School of Public Administration, Dongbei University of Finance & Economics, Dalian, Liaoning, China), Caiquan Duan (0000-0002-4607-3219, Northeast Agricultural University, autor correspondente)
Ano2023
Volume36
Fascículo2
Data de publicação2023-07-10
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoEconomic Research-Ekonomska Istraživanja (JOURNAL)
Identificadores do periódicoISSN: 1331-677X • E-ISSN: 1848-9664
EditoraInforma UK Limited (PUBLISHER • GB)
DOI10.1080/1331677x.2022.2110138
OpenAlexW4292066771
IdiomaEN
Citações recebidas8
Referências citadas52

The development of green finance and social low-carbon transformation is an essential concern for academia and industry. Based on Chinese provincial panel data spanning the period 2005-2019, we introduce the Cobb-Douglas production function and spatial Durbin and dynamic panel threshold models to deeply analyse the impact of green finance on the low-carbon economy. The mechanism test demonstrates that the scale, technique, and structural effects of green finance play a significant role in the low-carbon economy: they correct capital mismatch, promote green technology innovation, and optimise industrial structure. Meanwhile, green finance not only promotes the local low-carbon economy construction process, but also generates spatial spillover effects on neighbouring regions; however, there is regional heterogeneity in the impact of the transmission mechanism. Furthermore, only when capital mismatch is severe, and the low-end industrial structure poor is the positive impact of green finance on the low-carbon economy highlighted based on scale and structural effects; the ability of green finance to contribute to the low-carbon economy through the technique effect has been more stable and significant. This emphasises that green technology innovation is key to supporting low-carbon development in the long run

Business · Economic system · Economics · Economy · Green Economy · Green growth · Greenhouse gas · Low-carbon economy · Macroeconomics · Panel data · Returns to scale · Spillover effect · Sustainable development · Energy, Environment, and Transportation Policies · Energy, Environment, Economic Growth · Environmental Impact and Sustainability

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