IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v94y2024ics1059056024003745.html
   My bibliography  Save this article

Impact of green finance on China's pollution reduction and carbon efficiency: Based on the spatial panel model

Author

Listed:
  • Li, Yuantian
  • Xu, Yingming

Abstract

Green finance is an important means to promote the construction of ecological civilization and plays an important role in promoting the coordinated governance of pollution and carbon reduction. Based on the panel data of 277 cities at or above the prefecture level in China from 2006 to 2021, this study calculates the development level of green finance and the synergistic efficiency of pollution and carbon reduction. In addition, this study constructs the driving distance matrix. The study uses the spatial Durbin model to conduct an empirical test on the spatial effect and transmission mechanism of green finance on the synergistic efficiency of pollution and carbon reduction. Results show that: (1) A significant spatial difference exists between the development level of green finance and the collaborative efficiency of pollution and carbon reduction in China from 2006 to 2021. Moreover, the high-value areas of the two are concentrated in the eastern and southeast coastal areas, respectively; (2) The development of green finance has a positive spatial spillover effect on the collaborative efficiency of pollution and carbon reduction. The conclusion remains after a series of robustness tests, that is, green finance has a significant positive promoting effect on the collaborative efficiency of pollution and carbon reduction between the city and its neighboring cities; (3) The development of green finance can promote the improvement of the collaborative efficiency of pollution and carbon reduction by improving the level of green technology innovation and the advanced level of industrial structure, that is, the two play an intermediary effect. The conclusions of this study provide experience for an in-depth understanding of the environmental governance effect of green finance and actively guide financial resources to participate in the collaborative governance of carbon pollution.

Suggested Citation

  • Li, Yuantian & Xu, Yingming, 2024. "Impact of green finance on China's pollution reduction and carbon efficiency: Based on the spatial panel model," International Review of Economics & Finance, Elsevier, vol. 94(C).
    • Handle: RePEc:eee:reveco:v:94:y:2024:i:c:s1059056024003745
    DOI: 10.1016/j.iref.2024.103382
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056024003745
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2024.103382?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reveco:v:94:y:2024:i:c:s1059056024003745. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620165 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.