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The Impact of Green Finance Development on China’s Energy Structure Optimization

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Listed:
  • Hui Wang
  • Lili Jiang
  • Hongjun Duan
  • Yifeng Wang
  • Yichen Jiang
  • Xiaoken Lin
  • Sundarapandian Vaidyanathan

Abstract

This paper studies the impact of the development of green finance on China’s energy consumption structure. 17 basic indexes and the improved entropy weight method are used to construct the green finance index (GFI). Multiple regression, panel regression, and spatial regression are used to study the impact of green finance on China’s traditional energy and renewable energy consumption. The results show that there is a positive spatial spillover effect in the development of green finance among provinces in China. The development of green finance contributes to the conversion of traditional to renewable energy consumption. The effect of green finance on the transformation of energy consumption structure is mainly reflected in the direct effect. The green finance in each province not only helps the local development of green energy but also plays a good role in the production and utilization of clean energy consumption in surrounding provinces. Therefore, the government should support the green finance, reduce traditional energy consumption, and increase renewable energy consumption.

Suggested Citation

  • Hui Wang & Lili Jiang & Hongjun Duan & Yifeng Wang & Yichen Jiang & Xiaoken Lin & Sundarapandian Vaidyanathan, 2021. "The Impact of Green Finance Development on China’s Energy Structure Optimization," Discrete Dynamics in Nature and Society, Hindawi, vol. 2021, pages 1-12, December.
    • Handle: RePEc:hin:jnddns:2633021
    DOI: 10.1155/2021/2633021
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    Cited by:

    1. Lei Fan & Yunyun Zhang & Meilin Jin & Qiang Ma & Jing Zhao, 2022. "Does New Digital Infrastructure Promote the Transformation of the Energy Structure? The Perspective of China’s Energy Industry Chain," Energies, MDPI, vol. 15(23), pages 1-18, November.
    2. Lee, Chien-Chiang & Wang, Fuhao & Chang, Yu-Fang, 2023. "Does green finance promote renewable energy? Evidence from China," Resources Policy, Elsevier, vol. 82(C).
    3. Zirong Lin & Hui Wang & Wei Li & Min Chen, 2023. "Impact of Green Finance on Carbon Emissions Based on a Two-Stage LMDI Decomposition Method," Sustainability, MDPI, vol. 15(17), pages 1-28, August.

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