Research on the Impact of Green Investment on Low-Carbon Economic Development: Based on the Test of Spatial Spillover Effect

Rongjuan Tan and Ziyi Zhou ()
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Rongjuan Tan: School of Economics, Guangdong University of Technology, Guangzhou 510520, China
Ziyi Zhou: School of Economics, Guangdong University of Technology, Guangzhou 510520, China

Sustainability, 2025, vol. 17, issue 5, 1-25

Abstract: To address the challenge of achieving coordinated development between the economy and the environment in the context of a green economy, this study utilized the SBM-GML model to assess the total factor carbon productivity across 30 provinces in China from 2012 to 2021. This assessment aimed to quantify the development index of the low-carbon economy and elucidate its spatial characteristics. The findings indicate the following: (1) The transition and development of China’s low-carbon economy exhibit spatial agglomeration characteristics; however, there are notable disparities in the degree of agglomeration across different regions. (2) The influence of green investments on the low-carbon economic advancement of both local and adjacent regions exhibits distinct nonlinear attributes, with the local impact being more pronounced than the neighboring effect. (3) Innovation in low-carbon technologies serves as a partial intermediary in the relationship between green investment and low-carbon economic advancement. (4) Different types of green investment have heterogeneous impacts on low-carbon economic development.

Keywords: investment in environmental protection; low-carbon technology innovation; spatial econometric model; low-carbon economic transition (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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