| Title |
How does green finance affect the low-carbon economy? Capital allocation, green technology innovation and industry structure perspectives |
| ID_Doc |
30341 |
| Authors |
Zhu, Y; Zhang, JT; Duan, CQ |
| Title |
How does green finance affect the low-carbon economy? Capital allocation, green technology innovation and industry structure perspectives |
| Year |
2022 |
| Published |
|
| DOI |
10.1080/1331677X.2022.2110138 |
| Abstract |
The development of green finance and social low-carbon transformation is an essential concern for academia and industry. Based on Chinese provincial panel data spanning the period 2005-2019, we introduce the Cobb-Douglas production function and spatial Durbin and dynamic panel threshold models to deeply analyse the impact of green finance on the low-carbon economy. The mechanism test demonstrates that the scale, technique, and structural effects of green finance play a significant role in the low-carbon economy: they correct capital mismatch, promote green technology innovation, and optimise industrial structure. Meanwhile, green finance not only promotes the local low-carbon economy construction process, but also generates spatial spillover effects on neighbouring regions; however, there is regional heterogeneity in the impact of the transmission mechanism. Furthermore, only when capital mismatch is severe, and the low-end industrial structure poor is the positive impact of green finance on the low-carbon economy highlighted based on scale and structural effects; the ability of green finance to contribute to the low-carbon economy through the technique effect has been more stable and significant. This emphasises that green technology innovation is key to supporting low-carbon development in the long run. |
| Author Keywords |
Green finance; low-carbon economy; green technology innovation; spatial effect decomposition; dynamic threshold model |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Social Science Citation Index (SSCI) |
| EID |
WOS:000841152600001 |
| WoS Category |
Economics |
| Research Area |
Business & Economics |
| PDF |
https://doi.org/10.1080/1331677x.2022.2110138
|