| Title | Assessing the effect of the improvement of environmental damage compensation legal system and green finance project on the re-establishment of the ecological environment |
|---|---|
| ID_Doc | 31445 |
| Authors | Zhang, J |
| Title | Assessing the effect of the improvement of environmental damage compensation legal system and green finance project on the re-establishment of the ecological environment |
| Year | 2023 |
| Published | Environmental Science And Pollution Research, 30, 25 |
| Abstract | What are the relationships among environmental regulations, green finance, and environmental damages in countries? Existing literature supports the impact of green finance or green innovation on environmental quality, but rare studies query the cointegration among other core variables. We thus utilize the yearly data of 25 Chinese provinces from 2003 to 2021 to empirically examine the relationships among access to clean energy and technology, environmental regulation, renewable green investment, subsidy on green energy, and green finance index in environmental damage compensation via an augmented mean group (AMG) and other estimators. However, the current empirical research also investigates the individual linkage of green finance components with explained variables. Overall, this study confirms the existence of cointegration relationships among these variables. Moreover, the results of AMG suggest that access to clean fuels and technology, environmental regulations, and green finance can inversely affect the explained variable in the long term. Furthermore, environmental regulations and renewable green investment positively affect environmental damages, while a separate proxy of green finance also negatively affects explained variables in the selected provinces with better environmental performance. Our empirical findings offer important policy implications for overall emerging economies to promote subsidies, environmental regulations, and green finance to improve environmental damages compensation. |
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