Role of green finance in renewable energy development in the tourism sector

Yunfeng Shang, Lingrou Zhu, Fangbin Qian and Yani Xie

Renewable Energy, 2023, vol. 206, issue C, 890-896

Abstract: The primary purpose of this paper is to evaluate the impacts of green finance on green energy deployment in China's tourism industry. To this end, the annual data over 1992–2021 through the ARDL (Autoregressive Distributed Lag) approach for the case of China are analyzed. The findings confirm that the issued green bonds positively impact the green efficiency of China's tourism industry in the long term. In contrast, the coefficient of issued green bonds is insignificant for the short-term approach. In addition, in the short and long term, the consumer price index also has a significant adverse effect on the green efficiency of China's tourism industry. The recommended practical policies are improving executive regulations and transparent market information, implementing green fiscal policies, green construction in hotels and tourist accommodations, green globalization, operational phases of innovation, adaptation, and stabilization (IAS), and eco-tourism regionalism.

Keywords: Green finance; Renewable energy; Tourism sector; China (search for similar items in EconPapers)
JEL-codes: C22 G1 L83 Q27 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (42)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:206:y:2023:i:c:p:890-896

DOI: 10.1016/j.renene.2023.02.124

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