Effects of green finance and financial innovation on environmental quality
New empirical evidence from China
Bibliographic Data
| ID | 15067446 |
|---|---|
| Authors | Yuyu Zhan (Economics and Management School, Wuhan University, Wuhan, China, corresponding author), Yuan Wang (0000-0003-1439-5288, Jiangxi Normal University), Yifan Zhong (0000-0001-8143-8992, Curtin University) |
| Year | 2023 |
| Volume | 36 |
| Issue | 3 |
| Publication date | 2023-12-25 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2022.2164034 |
| OpenAlex | W4313644713 |
| Language | EN |
| Citations received | 4 |
| References cited | 53 |
Sustainable development pursues equilibrium between the environment, economic growth, and quality of life. Currently, in many economies, environmental pollution has become a critical issue. The financial sector development has played a crucial role in developing every sector of the economy by providing necessary funds, and the environment sector is no exception. Therefore, we aim to investigate the impact of green finance and financial innovation on the environmental status in China from 1996 to 2020. To analyze the finance-environment nexus, we have employed the ARDL model. Findings of the ARDL model confirm that the long-run estimates attached to green finance are significantly negative in both the CO2 emissions and GHGs models. Similarly, the long-run estimates of financial innovation are negative and significant in the CO2 emissions and GHGs models. These results imply that an increase in green finance and financial innovation reduces China’s CO2 emissions and GHGs emissions. Thus, environmental performance improves. In the short run, only the green finance impact is significant and negative on CO2 emissions and GHGs models. The results recommend some vital policy implications
Business · China · Economics · Environmental pollution · Environmental protection · Environmental quality · Financial market · Geography of finance · Greenhouse gas · Natural resource economics · Sustainable development · Energy, Environment, and Transportation Policies · Energy, Environment, Economic Growth · Environmental Science · Environmental Sustainability in Business · Ecology · Finance
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| Unique citing works | 4 |
|---|---|
| Citations per year | 1,33 |
| Citation span | 2023 - 2026 (4) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 3 |