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Impact of financial agglomeration on regional green economic growth: evidence from China

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  • Yu Qian
  • Jun Liu
  • Jeffrey Yi-Lin Forrest

Abstract

Financial agglomeration and green economic growth have become a trend in global financial and economic development. This paper analyzes the impact mechanism of financial agglomeration on green economic growth from two angles: growth promotion and energy conservation/emission reduction. Based on the Slacks Based Model-Data Envelopment Analysis (SBM-DEA) of undesired outputs, the green economic growth efficiency of 30 regions in China from 2008 to 2017 was measured. The study uses a spatial measurement model and finds that financial agglomeration has a significant positive effect on green economic growth. The specific manifestation is that with a 1% increase in the level of financial agglomeration, the productivity of green total factor increases by about 0.1837% and 0.0964% green economic growth in neighboring areas. Further analysis shows that this improvement in green total factor productivity is mainly achieved through technological advancement that promotes coordinated economic growth, energy saving and emission reduction.

Suggested Citation

  • Yu Qian & Jun Liu & Jeffrey Yi-Lin Forrest, 2022. "Impact of financial agglomeration on regional green economic growth: evidence from China," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 65(9), pages 1611-1636, July.
    • Handle: RePEc:taf:jenpmg:v:65:y:2022:i:9:p:1611-1636
    DOI: 10.1080/09640568.2021.1941811
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    Cited by:

    1. Huimin Peng & Yi Qiu, 2023. "Impact of Financial Agglomeration on Regional Economic Growth in China: A Spatial Correlation Perspective," SAGE Open, , vol. 13(3), pages 21582440231, September.
    2. Tianshu Quan & Tianli Quan, 2023. "A Study of the Spatial Mechanism of Financial Agglomeration Affecting Green Low-Carbon Development: Evidence from China," Sustainability, MDPI, vol. 15(2), pages 1-21, January.
    3. Yunyan Jiang & Feng Deng, 2022. "Multi-Dimensional Threshold Effects of the Digital Economy on Green Economic Growth?—New Evidence from China," Sustainability, MDPI, vol. 14(19), pages 1-22, October.
    4. Romeo Victor Ionescu & Valentin Marian Antohi & Monica Laura Zlati & Lucian Puiu Georgescu & Catalina Iticescu, 2022. "To a Green Economy across the European Union," IJERPH, MDPI, vol. 19(19), pages 1-23, September.
    5. Sun, Yizhong & Jin, Keyan & Wang, Deyong & Wu, Qingyang & Li, Zhezhou, 2023. "Revisiting the natural resources-financial development nexus in China: The importance of economic policy uncertainty," Resources Policy, Elsevier, vol. 86(PB).

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