Abstract
AbstractWhile digital finance and renewable energy consumption (REC) are two timely issues, it remains unclear whether the former affects the latter, especially in developing economies. This paper examines the impact of digital finance on China’s REC between 2011 and 2018 and explores the underlying mechanisms. Results show that digital finance, along with its coverage breadth and usage depth, significantly improved REC in China and that digital finance in the area of credit has had the most significant impact. Additionally, the results show that loan scale and income level are the main mediation variables, through which digital finance affects REC. The findings also suggest that economic growth and technological progress have increased REC in China, while carbon dioxide emissions have had no meaningful effect on this consumption. The results further indicate that policymakers must pay close attention to the role of digital finance when formulating policies on REC. To promote REC and environmental sustainability, developing economies like China should strengthen the breadth and depth of digital finance development, focus on the influence channels of digital finance, and promote economic growth and technological progress.
Funder
Graduate Research and Innovation Projects of Jiangsu Province
Major Program Project of the National Social Science Fund of China
Zhejiang Provincial Natural Science Foundation of China
Major projects of Humanities and Social Sciences in Zhejiang Province
Zhejiang Sci-Tech University Scientific Research Fund
Publisher
Springer Science and Business Media LLC
Subject
Management of Technology and Innovation,Finance
Cited by
46 articles.
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