The impact of digital inclusive finance on green economic efficiency: Pathways to inclusive sustainability

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-03-13 DOI:10.1016/j.ribaf.2025.102857

Yuanxiang Zhou , Huayan Liu , Chan Chen , Yingqi Ma

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引用次数: 0

Abstract

Digital inclusive finance plays a crucial role in China's financial supply-side structural reform, offering new opportunities to foster economic development, achieve inclusive growth, and ensure sustainability. Using panel data from Chinese counties between 2014 and 2022, this paper employs the super-efficiency EBM model with undesirable outputs to measure green economic efficiency and empirically examines the impact of digital inclusive finance on it. The results indicate that the development of digital inclusive finance positively influences the growth of green economic efficiency in China, and the conclusion remains robust after various robustness tests. Heterogeneity analysis reveals significant regional differences in the impact of digital inclusive finance on urban green economic efficiency, depending on factors such as development scale, geographic location, and the implementation of digital rural policies. Notably, the effect is more pronounced in medium-sized regions, and in areas without digital rural pilot policies, the promotion of digital inclusive finance has a more substantial impact on enhancing green economic efficiency. Further mechanism analysis demonstrates that digital inclusive finance and its sub-dimensions enhance green economic efficiency by alleviating enterprise financing constraints, fostering technological innovation, and upgrading industrial structures. This study provides new insights into the relationship between digital finance and green economic efficiency, offering policy recommendations for sustainable development.

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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