Can green finance promote urban green development? Evidence from green finance reform and innovation pilot zone in China

Zhang, Hongfeng; Wang, Yixiang; Li, Rui; Si, Hongyun; Liu, Wei

doi:10.1007/s11356-022-22886-0

Cited by 67 publications

(25 citation statements)

References 72 publications

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“…Additionally, in 2017, China created green finance reform and innovation pilot zones (GFPZ) in six provinces and energy consumption rights trading (ECRT) pilot zones in four provinces. The effects of LCCP, CEPT, BCPP, GFPZ, and ECRT on energy have been proven [49][50][51][52][53]. Only the impact of the NEDC policy is considered in column (1), while the other columns of Table 5 show the regression results after including LCCP, CETP, BCPP, GFPZ, and ECRT, respectively.…”

Section: Excluding the Influence Of Other Policiesmentioning

confidence: 99%

The Energy-Saving Effect of E-Commerce Development—A Quasi-Natural Experiment in China

2023

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This study provides a viable path to save energy by means of e-commerce development. Taking the national e-commerce demonstration cities (NEDC) pilots policy implemented in China as a quasi-natural experiment, based on the city panel data from 2006 to 2019, this study applies the multi-period difference-in-difference (DID) method to evaluate the effect of NEDC on energy saving in pilot cities. The empirical results suggest that the NEDC policy obviously contributes to energy conservation. The treated cities reduced energy consumption by 14.2% as a result of the implementation of NEDC, relative to the untreated cities. The conclusions remain valid after conducting robustness tests such as placebo test, instrumental variables regression, propensity score matching-difference-in-difference (PSM-DID), and synthetic difference-in-difference (SDID). The NEDC achieves energy-saving effects through technological innovation, industrial restructuring, and economic agglomeration. Furthermore, the heterogeneity analysis indicates that, in cities with high levels of human capital, well-developed information infrastructure, non-resource-based cities, and favorable business environments, the impact of NEDC on energy saving is more significant. Analysis of spatial effects shows that the implementation of NEDC has negative externalities, increasing energy consumption in the surrounding area. In the context of the digital economy, this paper presents new insights on the relationship between e-commerce and energy consumption and provides policy direction for countries looking for energy-saving solutions.

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Section: Excluding the Influence Of Other Policiesmentioning

confidence: 99%

The Energy-Saving Effect of E-Commerce Development—A Quasi-Natural Experiment in China

2023

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“…A dynamic spatial Durbin model has confirmed that green finance in China is efficient and can lower carbon dioxide emissions. Zhang et al (2022) attempted to determine how green finance enhanced urban citylevel green development in China from 2002 to 2019. The major results highlighted the role of green finance in lowering urban energy intensity.…”

Section: Literature Reviewmentioning

confidence: 99%

Green finance, renewable energy development, and climate change: evidence from regions of China

Sun

Bao

Taghizadeh–Hesary

2023

Humanit Soc Sci Commun

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In this study, using data from 2010 to 2021, and by utilizing the stochastic impacts by regression on population, affluence, and technology (STIRPAT) theory, and system generalized method of moments, the effect of green financing and deployment of renewable energy on carbon dioxide emissions in China and its provinces were analyzed. The results show that green financing reduces environmental pollution at the country level. Moreover, with a 1% increase in renewable energy consumption, carbon dioxide emission can be expected to decrease by 0.103%. It also demonstrates that green financing has a statistically significant coefficient only in provinces located in the eastern and western regions. Chinese policymakers should incentive policies for provinces in the eastern region of China in order to have a cleaner environment. The central region should be under supportive and pressure policies to move faster along the path to sustainable development.

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“…At present, most of the research on green development in academia focuses on horizontal measurement and impact factors. The first method of measuring green development is to establish an input-output indicator system and use the data envelope analysis (DEA) method to measure total factor productivity to characterise urban green development [19][20][21]. The second is to adopt a comprehensive indicator evaluation system, using the entropy method to measure comprehensive indicators to characterise urban green development [22][23][24].…”

Section: Literature Reviewmentioning

confidence: 99%

Smart City Construction and Urban Green Development: Empirical Evidence from China

Zhang,

Liu,

Zhao

et al. 2023

Preprint

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Smart city construction represents an advanced stage of China's urbanisation process and plays an important role in promoting green economic growth and sustainable development. Propensity score matching is combined with the difference-in-difference method to analyse the data of 221 prefecture-level cities in China from 2006 to 2020 to assess the impact of smart city construction on urban green development. We found that smart city construction can significantly contribute to urban green development; this contribution has long-term benefits. Further analysis shows that smart city construction promotes urban green development via industrial structure and green technology innovation and that smart city construction has a significant positive spatial spillover effect, i.e., it promotes urban green development locally while significantly contributing to urban green development in neighbouring regions.

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Can green finance promote urban green development? Evidence from green finance reform and innovation pilot zone in China

Cited by 67 publications

References 72 publications

The Energy-Saving Effect of E-Commerce Development—A Quasi-Natural Experiment in China

The Energy-Saving Effect of E-Commerce Development—A Quasi-Natural Experiment in China

Green finance, renewable energy development, and climate change: evidence from regions of China

Smart City Construction and Urban Green Development: Empirical Evidence from China

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