Analyzing the Relationship between Green Finance and Agricultural Industrial Upgrading: A Panel Data Study of 31 Provinces in China

Min Zhu, Mengqi Sun, Ehsan Elahi (), Yajie Li and Zainab Khalid
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Min Zhu: School of Economics, Shandong University of Technology, Zibo 255000, China
Mengqi Sun: School of Economics, Shandong University of Technology, Zibo 255000, China
Ehsan Elahi: School of Economics, Shandong University of Technology, Zibo 255000, China
Yajie Li: School of Economics, Shandong University of Technology, Zibo 255000, China
Zainab Khalid: School of Economics and Management, Southeast University, Nanjing 211189, China

Sustainability, 2023, vol. 15, issue 12, 1-19

Abstract: This study examines the impact of green finance on optimizing China’s agricultural industrial structure. It emphasizes the importance of innovative green financial services, improved efficiency, tailored regional approaches, and enhanced foresight to foster a high-level development in the agricultural sector amid China’s economic transformation. Based on the provincial panel data of 31 provinces in China from 2012 to 2021, this study empirically tests the effect mechanism of green finance on the optimization process of the agricultural industrial structure by constructing a fixed-effects model. This study finds that green finance can effectively promote the development of the optimization of the agricultural industrial structure. Under the current trend of China’s economic structural transformation and optimization, we suggest that China should innovate green financial service products, improve the efficiency of green finance, and enhance the depth of green financial services for the optimization of the agricultural industrial structure. It is required to strengthen foresight and improve relevant laws, regulations, policies, and standards. To help green finance be better promoted, a high-level development of the agricultural industrial structure is required.

Keywords: sustainable agriculture; green finance; agricultural industrial structure; fixed-effects model; China (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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