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Do green finance and hi-tech innovation facilitate sustainable development? Evidence from the Yangtze River Economic Belt

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  • Zhang, Lixia
  • Sun, Huaping
  • Pu, Tianlong
  • Sun, Hui
  • Chen, Zhenling

Abstract

Green finance and high-tech innovation can independently contribute to sustainable development, but their combined impact on the mechanism of regional sustainable development requires further exploration. This study constructed a sustainable development index from the perspectives of economic development, ecological environment, and social satisfaction. It empirically analyzes the impact of green finance and high-tech innovation on the sustainable development of the Yangtze River Economic Belt over 21 years. The research findings indicate that a higher level of green finance and high-tech innovation is conducive to regional sustainable development. If either the level of green finance or high-tech innovation is individually low, it will hinder the collective effect of promoting sustainable development and thus impede the overall sustainability of the region's development. Therefore, it is crucial to promote the balanced development of both, and foster their positive interaction, in order to achieving sustainable development in the Yangtze River Economic Belt.

Suggested Citation

  • Zhang, Lixia & Sun, Huaping & Pu, Tianlong & Sun, Hui & Chen, Zhenling, 2024. "Do green finance and hi-tech innovation facilitate sustainable development? Evidence from the Yangtze River Economic Belt," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1430-1442.
    • Handle: RePEc:eee:ecanpo:v:81:y:2024:i:c:p:1430-1442
    DOI: 10.1016/j.eap.2024.02.005
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