Geographic matching analysis between green finance development and carbon emissions in China’s new era of environmental transition

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2024-09-12 DOI:10.1016/j.ribaf.2024.102581

Jin Chen , Wenfei Meng , Yang Dong , Wei Zhou

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Abstract

Green finance plays a pivotal role in driving sustainable development. While its effectiveness in promoting green development is well-established, the impact of regional heterogeneity on its outcomes warrants further investigation. By introducing the Spatial Durbin Model (SDM) model, we analyze the causal relationship between provincial carbon emissions and green finance development in China, accounting for spatial spillovers across provinces. A geographic mismatch between regions of green finance development and carbon emission concentration is revealed. Central and Western areas exhibit higher carbon emissions, indicating a greater need for targeted green finance initiatives to promote sustainable development. However, green finance growth in these areas remains sluggish. Moreover, carbon emissions hinder local green finance development and negatively impact neighboring regions. We present new insights into the influence of carbon emissions on green finance, highlighting the importance of inter-regional collaboration and the potential applicability to other countries facing similar challenges.

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中国环境转型新时期绿色金融发展与碳排放的地理匹配分析

绿色金融在推动可持续发展方面发挥着关键作用。尽管绿色金融在促进绿色发展方面的有效性已得到公认，但区域异质性对其结果的影响仍值得进一步研究。通过引入空间杜宾模型（SDM），我们分析了中国各省碳排放与绿色金融发展之间的因果关系，并考虑了各省之间的空间溢出效应。结果表明，绿色金融发展地区与碳排放集中地区之间存在地理错配。中西部地区的碳排放量较高，表明更需要有针对性的绿色金融措施来促进可持续发展。然而，这些地区的绿色金融增长仍然缓慢。此外，碳排放阻碍了当地绿色金融的发展，并对周边地区产生了负面影响。我们就碳排放对绿色金融的影响提出了新的见解，强调了区域间合作的重要性以及对面临类似挑战的其他国家的潜在适用性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance