Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2023.2174151
Green credit and PM2.5: a time-varying perspective of China
Xin Li
Xiao Wang
Kai-Hua Wang
Chi-Wei Su
Sažetak
The causal link between green credit (GC) and particulate matter
2.5 (PM2.5) is discussed this paper for the case of China using the
bootstrap rolling-window Granger causality test. The fresh empirical
results show that GC had both positive and negative influences
on PM2.5 in two separate sub-sample periods. In turn, PM2.5
positively and consistently affected GC in two sub-sample periods.
In addition, time periods without causalities were also found in
the sample. These inconsistent conclusions do not provide strong
support for the hypothesis that GC and PM2.5 would affect each
other throughout the whole sampling period. Government intervention,
public environmental awareness, the domestic economic
situation, and other factors were fully considered in interpreting
the deviations in certain periods. Thus, the major contribution of
this study is that the linear assumption of causality was relaxed,
which is more in line with China’s realities. Some policies are suggested
to further strengthen the construction of the GC framework
and establish a multiparticipant GC system. Moreover, PM2.5
is an important reference and can be incorporated into enterprises’
green financing strategy.
Ključne riječi
Green credit; particulate matter 2.5; bootstrap; rolling-window causality test
Hrčak ID:
306838
URI
Datum izdavanja:
30.4.2023.
Posjeta: 142 *