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A Study on the Impact of Green Finance on the High-Quality Economic Development of Beijing–Tianjin–Hebei Region

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  • Lixia Liu

    (School of Economics, Tianjin University of Commerce, Tianjin 300134, China)

  • Xiaofang Li

    (School of Economics, Tianjin University of Commerce, Tianjin 300134, China)

Abstract

China’s economy has shifted to a new stage of high-quality development, which means that economic development is no longer simply pursuing the increase of quantity, but a balance of quality and quantity. High-quality economic development (HQED) has become essential for China to achieve sustainable economic and social advancement. This paper explores the influence of green finance on HQED, along with the mediating roles of green innovation and industrial structure upgrading. A fixed-effects model is employed to assess the relationship between green finance and HQED and conduct an empirical test in the Beijing–Tianjin–Hebei (BTH) region of China. The findings reveal that green finance significantly contributes to the HQED of the BTH region, and green innovation and industrial structure upgrading have intermediary effects in this process. Based on these insights, this paper proposes several strategies to improve HQED in China, including the development of a green financial system, the promotion of green innovation, and the acceleration of industrial structure optimization and upgrading in the BTH region.

Suggested Citation

  • Lixia Liu & Xiaofang Li, 2024. "A Study on the Impact of Green Finance on the High-Quality Economic Development of Beijing–Tianjin–Hebei Region," Sustainability, MDPI, vol. 16(6), pages 1-17, March.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:6:p:2433-:d:1357385
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    References listed on IDEAS

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