The impact of new energy industry on environmental and economic benefits: Evidence from China

Kaiyuan Guo, Chendan Huang, Zhenjun Zhang, Ana Yamileth Diaz Paiz and Weiming Chen

Energy, 2024, vol. 304, issue C

Abstract: The aggravation of the global warming crisis, due to excessive consumption of traditional energy, urgently calls for the strategic goal of sustainable development. This study addresses endogeneity concerns by employing panel fixed effect and DID models, employing panel data from China's provincial green finance index spanning from 2016 to 2021. The empirical findings indicate that: (1) the impact of the new energy industry on environmental and economic benefits is more pronounced in inland areas characterized by lower GDP and smaller population size; (2) this effect is driven by green technological innovation, government incentive policies, and job creation. Drawing upon these results, this paper offers a range of pertinent recommendations at governmental, industrial, and societal levels to foster sustainable development, thereby enhancing social welfare.

Keywords: New energy industry; Environmental benefits; Economic benefits; Social benefits; Sustainability (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544224018851
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:304:y:2024:i:c:s0360544224018851

DOI: 10.1016/j.energy.2024.132111

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().