Analysis of Impact of Green New Deal on Development of Green Economy

Mengyao Guo, Yiniu Cui, Jianhong Cao and Cheng Zhong

Politická ekonomie, 2025, vol. 2025, issue 4, 615-656

Abstract: Currently, nations worldwide are actively promoting various environmental movements to address the ecological crisis. Among these, the most prominent is the Green New Deal (GND). However, during the development of the GND, some scholars have identified that its advancement may lead to more severe environmental problems. Therefore, this study constructs indicators for green economic development and the GND. Utilizing an Ordinary Least Squares (OLS) regression model and a Spatial Durbin Model (SDM) and based on panel data from 30 Chinese provinces spanning 2008 to 2021, it specifically analyzes the impact of the GND on green economic development. The study further examines the spatial effects and externality impacts of the GND. Additionally, green finance is selected as a mediating variable to further explore the relationship between the GND, green finance and green economic development, analyzing the mediating role that green finance plays between them.

Keywords: Green New Deal; development of green economy; green finance; spatial Durbin model; mediator effect model (search for similar items in EconPapers)
JEL-codes: H23 O44 Q28 Q58 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.18267/j.polek.1461

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