Blockchain market and green finance: The enablers of carbon neutrality in China

Meng Qin, Xiaojing Zhang, Yameng Li and Roxana Maria Badarcea

Energy Economics, 2023, vol. 118, issue C

Abstract: This investigation explores whether the blockchain market and green finance are enablers of carbon neutrality in China. We employ the time-varying parameter-stochastic volatility-vector auto-regression model to acquire the dynamic interactions among blockchain market (BCM), green finance (GF) and carbon neutrality process (CNP). The empirical results underline that there are long-term positive and negative effects of BCM on CNP. The positive effect indicates that the blockchain market development brings a lasting stimulus to carbon neutrality in China, but the adverse influence can not prove this idea. Moreover, green finance development can persistently promote carbon neutrality, which is more continuous and stable but less rapid and influential than blockchain market. Beyond these direct effects, GF could positively and chronically influence BCM, which is greater and more stable than BCM on GF, and both indirectly impact CNP. In the context of the severe challenges climate change poses, these conclusions provide valuable implications for China to achieve its carbon neutrality target by vigorously developing the blockchain market and green finance.

Keywords: Blockchain market; Green finance; Carbon neutrality; China; Time-varying (search for similar items in EconPapers)
JEL-codes: C32 Q55 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (51)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:118:y:2023:i:c:s0140988322006302

DOI: 10.1016/j.eneco.2022.106501

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