Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2164034
Effects of green finance and financial innovation on environmental quality: new empirical evidence from China
Yuyu Zhan
Yuan Wang
Yifan Zhong
Sažetak
Sustainable development pursues equilibrium between the environment,
economic growth, and quality of life. Currently, in many
economies, environmental pollution has become a critical issue.
The financial sector development has played a crucial role in
developing every sector of the economy by providing necessary
funds, and the environment sector is no exception. Therefore, we
aim to investigate the impact of green finance and financial
innovation on the environmental status in China from 1996 to
2020. To analyze the finance-environment nexus, we have
employed the ARDL model. Findings of the ARDL model confirm
that the long-run estimates attached to green finance are significantly
negative in both the CO2 emissions and GHGs models.
Similarly, the long-run estimates of financial innovation are negative
and significant in the CO2 emissions and GHGs models.
These results imply that an increase in green finance and financial
innovation reduces China’s CO2 emissions and GHGs emissions.
Thus, environmental performance improves. In the short run, only
the green finance impact is significant and negative on CO2 emissions
and GHGs models. The results recommend some vital policy
implications.
Ključne riječi
Green finance; financial innovation; environmental; China
Hrčak ID:
314034
URI
Datum izdavanja:
6.1.2023.
Posjeta: 94 *