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How does education promote green digital finance? Evidence from China

Author

Listed:
  • Chien-Chiang Lee

    (Wuchang University of Technology
    City University of Macau)

  • Fuhao Wang

    (Nankai University)

  • Chi-Chuan Lee

    (Southwestern University of Finance and Economics
    SWUFE (Laboratory of Philosophy and Social Sciences, Ministry of Education))

Abstract

This study constructs a new composite green digital finance index and describes its development in China over the past decade. Based on province-level panel data covering the period 2011–2020, we examine how education contributes to the development of green digital finance. Through detailed theoretical analysis and rigorous empirical testing, the following results are obtained. First, education directly promotes green digital finance by adjusting people’s consciousness and enhancing their abilities. Second, high-quality educational inputs, a high level of economic development, and a high degree of opening-up are among the important preconditions for education to further promote green digital finance in China. Third, education indirectly promotes green digital finance by driving industrial upgrades, increasing income levels, promoting technological innovation, and cultivating finance-related talent. This study offers policy recommendations to help improve education levels and suggests a valuable direction for further research on green digital finance.

Suggested Citation

  • Chien-Chiang Lee & Fuhao Wang & Chi-Chuan Lee, 2025. "How does education promote green digital finance? Evidence from China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-29, December.
    • Handle: RePEc:spr:fininn:v:11:y:2025:i:1:d:10.1186_s40854-024-00688-2
    DOI: 10.1186/s40854-024-00688-2
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    More about this item

    Keywords

    Green digital finance; Education; Theoretical analysis; Empirical study; China;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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