Green development through finance: Discussion on the dual benefits of environment and economy

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-09-21 DOI:10.1016/j.frl.2025.108521

Yujun Liu , Jian Song , Yongmin Wu

引用次数: 0

Abstract

This study evaluates the multifaceted impacts of green finance (GF) development. Using a comprehensive provincial panel dataset spanning from 2010 to 2021 from China, the study employs a two-way fixed-effects panel model to empirically examine the role of GF in advancing energy conservation, carbon reduction, and economic growth. Moreover, a slacks-based measure of efficiency in data envelopment analysis model is applied to investigate the synergistic effects of GF across these dimensions. Findings show that GF development significantly reduces energy consumption and carbon emissions while promoting economic growth. Furthermore, GF enhances synergy among energy efficiency, emissions reduction, and economic growth. These findings remained robust across multiple validation checks. Hence, this study highlights the dual advances in GF in terms of environmental and economic growth dimensions.

查看原文本刊更多论文

金融助力绿色发展：论环境与经济的双重效益

本研究评估了绿色金融发展的多方面影响。本研究利用2010 - 2021年中国省级综合面板数据，采用双向固定效应面板模型，实证检验了GF在促进节能减排和经济增长中的作用。此外，在数据包络分析模型中，采用基于松弛的效率度量来研究GF在这些维度上的协同效应。研究结果表明，GF的发展在促进经济增长的同时显著降低了能源消耗和碳排放。此外，GF加强了能源效率、减排和经济增长之间的协同作用。这些发现在多次验证检查中仍然是可靠的。因此，本研究强调了绿色能源在环境和经济增长方面的双重进步。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance