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Research on the spatial impact and coupling coordination of green finance on the ecological development of China’s economy

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  • Guosong Wu

    (Huzhou University)

Abstract

China’s economy has developed rapidly since the implementation of its reform and opening-up policy. However, the long-term extensive development has also brought serious ecological problems to China. Ecological crises, such as air pollution, water pollution and land desertification occur frequently. Green finance has become a path to promote China’s sustainable economic development as an economic activity to deal with climate change, improve the ecological environment and make rational use of resources. This paper will construct a spatial econometric model and coupling coordination degree model to carry out empirical research. Based on the data from 1999 to 2020, this paper constructs an evaluation index system of green finance and an economic ecology system. First, the spatial autocorrelation model is used to analyze the spatial relationship. Second, the coupling coordination degree model is used to measure the evolution of the coupling coordination relationship between green finance and economic ecology. The results show that green finance has a strong spatial agglomeration. Economic and ecological development has maintained a stable spatial positive correlation. The spatial difference of economic ecological development is more obvious than the development of green finance. The development of green finance has a significant positive role in promoting the economic and ecological development of its province. The degree of coupling and coordination of green finance and economic ecology shows an increasing trend, changing from transition type to coupling and coordination type. It shows that China’s green finance can effectively promote the overall optimal development of economic ecology to a certain extent. However, no high-quality coordination was observed in the result of coupling coordination, and thus, there is still some room for progress in the development of the two. China needs to change the current mode of economic development comprehensively and take the road of harmonious development suited to the economy and the environment.

Suggested Citation

  • Guosong Wu, 2023. "Research on the spatial impact and coupling coordination of green finance on the ecological development of China’s economy," Economic Change and Restructuring, Springer, vol. 56(5), pages 3353-3381, October.
    • Handle: RePEc:kap:ecopln:v:56:y:2023:i:5:d:10.1007_s10644-023-09504-w
    DOI: 10.1007/s10644-023-09504-w
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    References listed on IDEAS

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    1. Gene M. Grossman & Alan B. Krueger, 1995. "Economic Growth and the Environment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(2), pages 353-377.
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    Cited by:

    1. Lee, Chien-Chiang & Wang, Chang-song & He, Zhiwen & Xing, Wen-wu & Wang, Keying, 2023. "How does green finance affect energy efficiency? The role of green technology innovation and energy structure," Renewable Energy, Elsevier, vol. 219(P1).
    2. Yichen Qiang & Yao Tang & Chen Wang, 2024. "Green Finance Advancement and Its Impact on Urban Haze Pollution in China: Evidence from 283 Cities," Sustainability, MDPI, vol. 16(11), pages 1-22, May.
    3. Rongnan Li & Zhongfei Li & Kexin Hu & Kai Gan, 2024. "The spillover effects of green bond issuance: a study based on Chinese firms’ stock price synchronicity," Economic Change and Restructuring, Springer, vol. 57(1), pages 1-41, February.

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