Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2110138
How does green finance affect the low-carbon economy? Capital allocation, green technology innovation and industry structure perspectives
Yue Zhu
Juntao Zhang
Caiquan Duan
Sažetak
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.
Ključne riječi
Green finance; low-carbon economy; green technology innovation; spatial effect decomposition; dynamic threshold model
Hrčak ID:
306652
URI
Datum izdavanja:
30.4.2023.
Posjeta: 262 *