Chenyuan Zhao , Zhaolongyu Lei , Xu Zhao , Yuxuan Wang
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Carbon finance development, industrial structure and green financial instruments
Based on panel data from 30 provinces (cities) in China from 2006 to 2022, this study empirically analyzes the impact of carbon finance development on the optimization and upgrading of the industrial structure with the moderating effect of green financial instruments. This study constructs a new indicator to evaluate the level of carbon finance from financial environment, energy efficiency, and technological development, and finds that the development of carbon finance has a positive impact on the optimization and upgrading of industrial structure. Green finance instruments such as green loans play a positive role in promoting development. The innovation of this study lies in redefining the indicators of industrial structure optimization across three dimensions: rationalization, advancement, and upgrading of the industrial structure. This innovation is of practical significance in exploring the direction of industrial structure optimization and upgrading.
期刊介绍:
The focus of the North-American Journal of Economics and Finance is on the economics of integration of goods, services, financial markets, at both regional and global levels with the role of economic policy in that process playing an important role. Both theoretical and empirical papers are welcome. Empirical and policy-related papers that rely on data and the experiences of countries outside North America are also welcome. Papers should offer concrete lessons about the ongoing process of globalization, or policy implications about how governments, domestic or international institutions, can improve the coordination of their activities. Empirical analysis should be capable of replication. Authors of accepted papers will be encouraged to supply data and computer programs.