Journal
RESOURCES POLICY
Volume 74, Issue -, Pages -Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.resourpol.2021.102445
Keywords
Green finance; Fintech; High-quality economic development; China
Categories
Funding
- Government of Jiangsu Province [SJKY19_2595]
- Government of Zhenjiang [RK2021022]
Ask authors/readers for more resources
The study demonstrates that green finance plays a comprehensive role in promoting high-quality economic development, while fintech enhances the positive impact of green finance on ecological environment and economic structure, with limited effects on the relationship between green finance and economic efficiency.
This study empirically examines the effect of green finance and fintech on high-quality economic development. Using data from 30 provinces and municipalities in China from 2007 to 2019, this study applies panel regression analysis to investigate the relationships between green finance, fintech, and high-quality economic development, and adopts a two-step generalized method of moments (GMM) to defaecate the endogeneity issue. This study finds that green finance comprehensively facilitates high-quality economic development by positively affect its all three aspects (i.e., ecological environment, economic efficiency, and economic structure). Additionally, fintech strengthens the positive impact of green finance in the aspects of ecological environment and economic structure, while having limited effects on the relationship between green finance and economic efficiency. Based on these findings, our study proposes three policy suggestions for policymakers, including reinforcing the integration of fintech development with green finance, building an environmental disclosure framework to supervise local governments in improving efficiency of green finance, and developing medium- and long-term favorable policies as an external intervention measure to promote green finance in the private sector.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available