Digital finance, institutional quality, and air pollution: Evidence from China

Bo Li, Xuemei Jia, Zhenya Liu () and Fengping Ma
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Bo Li: Beijing International Studies University
Xuemei Jia: Beijing International Studies University
Zhenya Liu: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Fengping Ma: Beijing International Studies University

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Abstract: Understanding the relationship between digital finance, institutional quality, and air pollution is crucial to crafting effective environmental policies, particularly in the context of China's significant strides in the digital era. The study examines how institutional quality moderates the spatial effect of digital finance on air pollution in China. Using data from 30 provinces (2011–2021), it reveals that digital finance growth correlates with improving air quality and becomes more geographically concentrated over time. Institutional quality significantly strengthens digital finance's positive spatial impact on air quality, especially in well-governed areas, with the indirect impact through institutional quality outweighing the direct one. The findings emphasize the importance of strong institutional quality for environmental management via digital finance.

Keywords: Spatial durbin model; Air pollution; Institutional quality; Digital finance (search for similar items in EconPapers)
Date: 2025-06-01
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Published in Research in International Business and Finance, 2025, 78, pp.102997. ⟨10.1016/j.ribaf.2025.102997⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05568880

DOI: 10.1016/j.ribaf.2025.102997

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