| Title | Digital financial development and ecological footprint: Evidence from-biased innovation and environmental inclusion |
|---|---|
| ID_Doc | 19633 |
| Authors | Feng, SL; Chong, Y; Yu, HJ; Ye, XX; Li, GX |
| Title | Digital financial development and ecological footprint: Evidence from-biased innovation and environmental inclusion |
| Year | 2022 |
| Published | |
| Abstract | The rapid development of digital finance has profoundly changed the pattern of economic and social develop-ment, which is of great significance for the realization of the harmonious coexistence between humans and nature and for the promotion of sustainable development. This study measures the state of China's provincial ecological footprint from 2011 to 2019, combines the characteristics of digital financial development, and ex-plores whether such development can promote sustainable development from an ecological footprint perspec-tive. The results show that (1) China's provincial ecological footprint per capita, which was continuously aggravated, increased by an average of 29.15% during the sample period. Digital financial development is shown to be able to effectively suppress the ecological footprint, and an environmental inclusion effect is also observed, which helps achieve a win-win solution for economic development and ecological conservation while promoting environmental equality. Endogeneity tests and other robustness tests indicate that causality holds. (2) Bridging the digital divide, the improvement of environmental constraints and government digital governance capacity can help amplify the marginal effects of digital finance and mitigate the ecological footprint. (3) Green tech-nological innovation and green finance are critical paths to achieve sustainable development. Digital financial development can facilitate green-biased technological innovation and increase the scale of green credit effec-tiveness, thereby reducing the ecological footprint. In the future, digital technology should be used to achieve the precise sinking of financial resources, while the government's role in guiding sustainable development should be enhanced, the digital divide should be narrowed, and the role of digital finance in supporting sustainable development should be strengthened. |
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