The Impact of Green Development on Modernization in China: Evidence from 108 Cities in the Yangtze River Economic Belt

Chien-Chiang Lee (), Mingli Zeng and Kang Luo

Emerging Markets Finance and Trade, 2022, vol. 58, issue 13, 3664-3688

Abstract: Building a stronger modern socialist country is China’s second centenary goal, and ecological beauty is the innovation of the connotation of modernization. How to realize the drive toward modernization with green development is an urgent topic. Based on the municipal panel data of the Yangtze River Economic Belt from 2009–2019 in China and selecting the air circulation coefficient and river network density as instrumental variables, this research examines the impact mechanism of green development on modernization. The results show the following: (1) green development significantly promotes modernization; (2) green development indirectly promotes the improvement of modernization through technological innovation, foreign capital flow, and talent attraction; and (3) the promotion of green development to modernization is affected by the urban size, and medium-sized cities benefit most. The study results provide empirical support and a decision-making basis for promoting the win-win situation of green development and modernization construction.

Date: 2022
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DOI: 10.1080/1540496X.2022.2067475

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