How Does Green Finance Affect the Sustainable Development of the Regional Economy? Evidence from China

Huizi Ma, Xuan Miao (), Zhen Wang and Xiangrong Wang
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Huizi Ma: College of Mathematics and Systems Science, Shandong University of Science and Technology, Qingdao 266590, China
Xuan Miao: College of Mathematics and Systems Science, Shandong University of Science and Technology, Qingdao 266590, China
Zhen Wang: College of Mathematics and Systems Science, Shandong University of Science and Technology, Qingdao 266590, China
Xiangrong Wang: College of Mathematics and Systems Science, Shandong University of Science and Technology, Qingdao 266590, China

Sustainability, 2023, vol. 15, issue 4, 1-16

Abstract: The continuous expansion of green finance makes it a new scheme to stimulate economic vitality, but its stimulation path remains to be explored. Using the panel data of 30 regions in China from 2016 to 2020, this research utilized an entropy method to evaluate green finance and the sustainable development of the regional economy (SDRE), and then discussed their coupling coordination relationship and regional heterogeneity. The results show that: (1) The developments of green finance and SDRE in the eastern coastal regions are generally better than that of China’s inland regions. (2) If green finance and SDRE are at a high level, their coupling coordination will be enhanced. Otherwise, the coordination effect will be weakened. (3) The influence of green finance on SDRE has evident regional heterogeneity, and the influence is positive in the echelon with a high degree of green finance.

Keywords: green finance; sustainable development of the regional economy; entropy method; coupling coordination model; fixed-effect regression (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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