The Role of the Government in Green Finance, Foreign Direct Investment, Technological Innovation, and Industrial Structure Upgrading: Evidence from China

Author:

Wang Chenggang1,Qiao Guitao1,Ahmad Mahmood12ORCID,Ahmed Zahoor34ORCID

Affiliation:

1. Business School, Shandong University of Technology, Zibo 255000, China

2. MEU Research Unit, Middle East University, Amman 541350, Jordan

3. Adnan Kassar School of Business, Lebanese American University, Beirut 1102-2801, Lebanon

4. Department of Business Administration, Faculty of Economics, Administrative and Social Sciences, Bahçeşehir Cyprus University, Nicosia 99010, Türkiye

Abstract

This study utilizes data from China’s 31 provinces, collected from 2007 to 2021, to establish a green finance (GF) index and investigate its impact on industrial structure upgrading (IS). In addition to the direct impact, this study investigates the indirect influence of GF on industrial structure upgrading through technological innovation (Tech) and foreign direct investment (FDI). Furthermore, this study analyzes the moderating role of environmental regulation intensity (ERI) and government intervention on the relationship between GF and industrial structure upgrading. The empirical findings demonstrate a positive relationship between GF and industrial structure upgrading, which remains robust after conducting a robustness analysis and stability tests. Moreover, GF positively impacts industrial structure upgrading by stimulating Tech and attracting FDI. Furthermore, the ERI is observed to positively and significantly moderate the impact of GF on industrial structure upgrading, while high levels of government intervention hinder the promoting effect of GF on industrial structure upgrading. Lastly, the association between GF development and industrial structure upgrading exhibits regional and market heterogeneity, with the most notable impact observed in coastal areas and regions with higher levels of market orientation. This study presents comprehensive suggestions for facilitating the improvement of GF and the upgrading of industrial structures.

Funder

National Social Science Foundation of China

Shandong Province Natural Science Foundation Project

Publisher

MDPI AG

Subject

Management, Monitoring, Policy and Law,Renewable Energy, Sustainability and the Environment,Geography, Planning and Development,Building and Construction

Cited by 5 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3