How Does Green Finance Affect the Sustainable Development of the Regional Economy? Evidence from China

Author:

Ma Huizi1ORCID,Miao Xuan1,Wang Zhen1,Wang Xiangrong1

Affiliation:

1. College of Mathematics and Systems Science, Shandong University of Science and Technology, Qingdao 266590, China

Abstract

The continuous expansion of green finance makes it a new scheme to stimulate economic vitality, but its stimulation path remains to be explored. Using the panel data of 30 regions in China from 2016 to 2020, this research utilized an entropy method to evaluate green finance and the sustainable development of the regional economy (SDRE), and then discussed their coupling coordination relationship and regional heterogeneity. The results show that: (1) The developments of green finance and SDRE in the eastern coastal regions are generally better than that of China’s inland regions. (2) If green finance and SDRE are at a high level, their coupling coordination will be enhanced. Otherwise, the coordination effect will be weakened. (3) The influence of green finance on SDRE has evident regional heterogeneity, and the influence is positive in the echelon with a high degree of green finance.

Funder

Qingdao Social Science Planning Project

Shandong Statistical Scientific Research Program

Publisher

MDPI AG

Subject

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

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