2023
DOI: 10.1371/journal.pone.0289844
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The impact of green finance on the optimization of industrial structure: Evidence from China

Abstract: Green finance promotes the optimization of industrial structure and continuous improvement of ecological environment by supporting the development of green industries. Based on the panel data of 30 provinces in China from 2012 to 2020, this paper uses the entropy weight TOPSIS method to measure the development level of green finance and the level of industrial structure optimization in China, and constructs a panel data model to empirically test the impact of green finance on the upgrading of China’s industria… Show more

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Cited by 14 publications
(8 citation statements)
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“…Further analysis exploring channels indicates that green finance promotes the low-carbon development of cities through mainly on adjusting industrial structure rather than stimulating technological innovation. This finding aligns with Xiong et al (2023) who stated that the development of green finance significantly promotes the rationalization and upgrading of the industrial structure by suppressing the development of high energy consuming industries. We suggest that this is mainly related to the policy transition of supply-side reforms in China, which has been vigorously promoted by both the central and local governments in recent years.…”
Section: Discussionsupporting
confidence: 89%
See 3 more Smart Citations
“…Further analysis exploring channels indicates that green finance promotes the low-carbon development of cities through mainly on adjusting industrial structure rather than stimulating technological innovation. This finding aligns with Xiong et al (2023) who stated that the development of green finance significantly promotes the rationalization and upgrading of the industrial structure by suppressing the development of high energy consuming industries. We suggest that this is mainly related to the policy transition of supply-side reforms in China, which has been vigorously promoted by both the central and local governments in recent years.…”
Section: Discussionsupporting
confidence: 89%
“…On the other hand, green finance can also promote the adjustment of industrial structure by channeling capital towards cleaner and sustainable industries while restricting access to credit and investment in energy-intensive sectors (Xiong et al, 2023). Although both technological innovation and industrial restructuring enable cities to reduce reliance on fossil fuel consumption and towards low-carbon pathways, their underlying mechanisms are different.…”
Section: Typical Facts)mentioning
confidence: 99%
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“…Concerning the industrial structure, green finance drives local enterprises toward green and sustainable development, which optimizes and upgrades the local industrial structure. This, in turn, attracts more enterprises and institutions from neighboring regions to the green technology sector, forming a virtuous cycle of industrial agglomeration [40]. Additionally, successful innovation in green energy technology by certain entities supported by green finance can have a demonstration effect, prompting interest and emulation by enterprises and institutions in other regions, thus propelling the innovation and application of green energy technology and fostering green technological development within their respective regions [41].…”
Section: Green Finance and Regional Green Energy Technological Innova...mentioning
confidence: 99%