 Carbon finance development, industrial structure and green financial instrumentsChenyuan Zhao, Zhaolongyu Lei, Xu Zhao and Yuxuan Wang The North American Journal of Economics and Finance, 2025, vol. 78, issue C Abstract: Based on panel data from 30 provinces (cities) in China from 2006 to 2022, this study empirically analyzes the impact of carbon finance development on the optimization and upgrading of the industrial structure with the moderating effect of green financial instruments. This study constructs a new indicator to evaluate the level of carbon finance from financial environment, energy efficiency, and technological development, and finds that the development of carbon finance has a positive impact on the optimization and upgrading of industrial structure. Green finance instruments such as green loans play a positive role in promoting development. The innovation of this study lies in redefining the indicators of industrial structure optimization across three dimensions: rationalization, advancement, and upgrading of the industrial structure. This innovation is of practical significance in exploring the direction of industrial structure optimization and upgrading. Keywords: Carbon finance; Optimization of industrial structure; Green financial instruments; Green credit (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecofin:v:78:y:2025:i:c:s1062940825000701 DOI: 10.1016/j.najef.2025.102430 Access Statistics for this article The North American Journal of Economics and Finance is currently edited by Hamid Beladi More articles in The North American Journal of Economics and Finance from Elsevier |
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