Analysis of the Impact of Green Finance on Economic Growth Based on Multiple Linear Regression

Yuhan Zhang, Jing Ma () and Xiaoyan Wang
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Yuhan Zhang: Business School of Hohai University
Jing Ma: Suqian University
Xiaoyan Wang: Suqian Open University

A chapter in Proceedings of the 2024 3rd International Conference on Public Service, Economic Management and Sustainable Development (PESD 2024), 2024, pp 346-358 from Springer

Abstract: Abstract In the current global environmental crisis, green finance (GF), as an important driver of sustainable development, has attracted much attention. It is not only committed to environmental protection, but also demonstrates key influence in economic growth. This study focuses on the effects of GF on economic growth and uses multiple linear regression models to deeply analyze relevant data. By systematically reviewing existing literature, a regression framework containing multiple economic indicators was constructed. Based on macroeconomic data from multiple countries, the intrinsic relationship between GF and economic growth was empirically tested. In the study, the uncertainty factor of climate policy was taken into account, and how this factor affects economic growth by influencing investment decisions of enterprises was analyzed. An example of energy enterprise investment decisions in Huai’an City, Jiangsu Province was explored. To enhance the robustness of the conclusion, a diversified regression model was adopted and supplemented with various statistical validations to ensure the reliability of the results. GF investment has increased by 100-300 million US dollars over the past 20 years, which is positively correlated with economic growth and helps promote stable economic growth through environmental protection projects and low-carbon technologies. This discovery provides theoretical support for policy makers, emphasizing the win-win potential of GF between environmental protection and economic growth. Therefore, this study has both theoretical and practical value, opening up new perspectives for subsequent exploration and policy guidance.

Keywords: Multiple Linear Regression; Green Finance; Economic Growth; Environmental Protection (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-598-0_36

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DOI: 10.2991/978-94-6463-598-0_36

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