Examining the Coordination Between Green Finance and Green Economy Aiming for Sustainable Development: A Case Study of China

Abstract

Green finance (GF) regards social responsibility and environmental protection interests as the core of development and has become a new growth point and a new engine for promoting the development of the green economy (GE). To more accurately grasp the coordination between GF and the GE, the selection of appropriate indicators and feasible methods is worth exploring. Aiming at sustainable development by evaluating the coupling coordination between GF and the GE by means of a comprehensive index system and an integrated approach, this study establishes a coupling coordination degree model based on panel data of 30 Chinese provinces over the period 2007–2016. Furthermore, it evaluates the spatial distribution difference and dynamic evolution trend of the coordination by introducing global/local spatial autocorrelation, a space Markov chain, and a local indicators of spatial association (LISA) Markov chain. According to the research results, the coupling coordination degrees of the provinces exhibit gradual upward trends, and most regions in China are in a barely coordinated state at present. The coordination degree of GF and the GE shows strong spatial dependence overall, and partially presents the characteristics of “high-high (HH)” and “low-low (LL)” clustering patterns. The forecast results show that the future coordination of GF and the GE will remain stable and be affected by the coordinated development of surrounding areas.

Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces

“…If the empirical research neglects pollutants outside the provinces through environmental media, the results will be biased. (3) Most research only focused on the direct impact of green finance on carbon emissions, but it did not reveal the internal mechanism of the impact of green finance on carbon emissions, which needs to be further expanded [32].…”

Coupling Coordination and Spatiotemporal Dynamic Evolution Between Green Urbanization and Green Finance: A Case Study in China

“…Green finance instruments consist of various products and mechanisms, including green credit, green security, green insurance, green investment, carbon finance, etc. (Zeng et al, 2014;Zhang et al, 2019;Liu et al, 2020). However, green finance in China is still in the developmental stage, with a lack of relevant statistics.…”

“…Zeng et al (2014) constructed a comprehensive index system of green finance from the aspects of green credit, green securities, green insurance, green investment, and carbon finance. Liu et al evaluated the level of coupling coordination between green finance and green economy (Liu et al, 2020). Li found that green finance contributes to the improvement of regional ecological environment (Li and Gan, 2020).…”

Game Analysis of the Multiagent Evolution of Existing Building Green Retrofitting from the Perspective of Green Credit

“…e implementation of green credit policy provides new financing opportunities for ESCOs. However, the financial system is inherently complex [14], implementing green credit will result in incremental costs for banks and affect their financial performance, and the overall proportion of investment and loans to green projects by financial institutions is still low [15]. erefore, green credit is still unable to play an effective role in the development of ESCOs.…”