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How Does Industrial Agglomeration Drive High-Quality Green Development in China? New Evidence from a Financial and Manufacturing Co-Clustering

Author

Listed:
  • Tao, Miaomiao

    (The University of Auckland, Auckland, New Zealand)

  • Poletti, Stephen

    (The University of Auckland, Auckland, New Zealand)

  • Sheng, Mingyue Selena

    (The University of Auckland, Auckland, New Zealand)

  • Silva, Emilson

    (The University of Auckland, Auckland, New Zealand)

  • Shao, Xuefeng

    (The University of Newcastle, Newcastle, Australia)

Abstract

We examine the effect of financial and manufacturing co-clustering on high-quality green development in China’s 30 provinces from 2005 to 2020. The nexus between financial and manufacturing co-clustering and high-quality green development has been comprehensively investigated from linear and non-linear perspectives. We find that financial and manufacturing co-clustering significantly fosters high-quality green development. Mechanism analysis shows that formal environmental regulation has a significant negative moderating effect on high-quality green development, whereas informal environmental regulation plays a significantly positive moderating role. However, empirical results only show the mediation effect of formal environmental regulation in the incentive role of financial and manufacturing co-clustering to high-quality green development. A dynamic panel threshold model also certifies the non-linear effect between financial and manufacturing co-clustering and high-quality green development. Lastly, the promotion effect of financial and manufacturing co-clustering on high-quality green development creates significant heterogeneity.

Suggested Citation

  • Tao, Miaomiao & Poletti, Stephen & Sheng, Mingyue Selena & Silva, Emilson & Shao, Xuefeng, 2024. "How Does Industrial Agglomeration Drive High-Quality Green Development in China? New Evidence from a Financial and Manufacturing Co-Clustering," American Business Review, Pompea College of Business, University of New Haven, vol. 27(2), pages 573-606, November.
    • Handle: RePEc:ris:ambsrv:0115
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    More about this item

    Keywords

    Co-Clustering Effect; High-Quality Green Development; Mechanism Analysis; Nonlinearity;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • N60 - Economic History - - Manufacturing and Construction - - - General, International, or Comparative
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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