Green Finance and Urban Development: Evidence from Cities in China
DOI:
https://doi.org/10.54097/3tv6f440Keywords:
Green finance; urban development; carbon emission reduction; high-quality economic development; Green Total Factor Productivity.Abstract
Green finance drives urban development, and plays a key role in Beautiful China Initiative. Since Integrated Reform Plan for Promoting Ecological Progress was published in 2015, each province and cities in China actively responds and implements this policy. This essay uses a systematic review method to sort relevant domestic and international documents, and is written to study the impact of green finance on urban development. By sorting the documents, we find that green finance plays positive effect on cities’ green development and high-quality economic development. Based on these findings, this paper will further focus on urban green development, differentiation policy to promote inclusive growth and the spirit of the 20th National Congress must be put into effect in relevant policies and data. These four aspects will be used to look forward to the future development of research on this topic. This essay makes up the gap in the relatively scarce comprehensive research on green finance and urban development and plays a practical role in promoting green development and greener social development.
Downloads
References
[1] Economic Daily. National Bureau of Statistics Releases Report Indicating Significant Increase in China's Urbanization Rate Over the Past 70 Years. (2019, August 16). Retrieved July 15, 2024, from https://www.gov.cn/xinwen/2019-08/16/content_5421576.htm. (in Chinese)
[2] Liu Huajun, Zhang Yichen. China's Green Finance Development Path in the New Era over the Past Decade: Historical Review, Effectiveness Evaluation, and Future Prospects. China Soft Science. 2023, (12), 16-27. (in Chinese)
[3] Wang Jing. Research on the Driving Factors and Progress of Green Finance Development in China. Economic Restructuring. 2019, (05),136-142. (in Chinese)
[4] Wang Fushuai, Cai Wenxia, and Elahi Ehsan. Do Green Finance and Environmental Regulation Play a Crucial Role in the Reduction of CO 2 Emissions? An Empirical Analysis of 126 Chinese Cities. Sustainability. 2021, 13, 13014.
[5] Lv Chengchao, Jiang Yanjie, He Jiahao. Carbon Emission Reduction Effects of Green Finance Policies: Insights from the Practice of Green Finance Reform and Innovation Pilot Zones. Chinese Journal of Management Science. 2023, 1-24. (in Chinese)
[6] Zhang Zhenhua, Chen Xi, Wang Jing, et al. The Impact of Green Finance Reform and Innovation Pilot Zone Policies on Carbon Emissions: A Quasi-Experimental Study Based on Panel Data from 282 Cities. China Population, Resources and Environment. 2024, 34(02), 32-45. (in Chinese)
[7] Zhou Wenhai, Wu Xiaomin, Zhao Guiling. An Empirical Study on the Carbon Emission Reduction Effect of Green Finance under the Dual Carbon Target. Journal of Hebei University of Economics and Business, 2024, 45(01), 47-58. (in Chinese)
[8] Zhao Yan, Sun Hui, Ma Dianyuan.Research on the Impact of Urban Green Finance Reform on the Synergistic Effect of Pollution Reduction and Carbon Reduction: Based on Causal Inference Using Dual Machine Learning. Industrial Economics Research. 2024, (03), 15-28+58. (in Chinese)
[9] Deng Qizhong, Zhang Ling, Qin Yansi. Research on the Impact of Green Finance Policies on Urban Environmental Governance Efficiency: A Case Study of China's Yangtze River Economic Belt. Urban Problems, 2024, (05), 92-103. (in Chinese)
[10] Zhao Xiaochun, Long Laichun, Zhou Ying. Green Finance, Government Intervention, and Regional Carbon Emission Efficiency. Statistics and Decision. 2023, 39(10), 149-154. (in Chinese)
[11] Zhang Xiaoke, Zhang Juying. The Effect and Action Path of Green Finance in Pollution Control and Emission Reduction: An Analysis Based on Panel Data from 30 Provincial Regions in China from 2007 to 2017. Journal of Shaanxi Normal University (Philosophy and Social Sciences Edition). 2024, 53(02), 108-122. (in Chinese)
[12] Yang Xuehui, Wei Mo, Li Yan & Jiang Yiming. Research on the policy effect and mechanism of green finance to reduce environmental pollution: micro evidence from 285 cities in China. Environmental Science and Pollution Research, 2023, (27), 30.
[13] Wu Yingtao, Zhang Yun, Ni Daohan. Can green finance realize a win-win situation between urban ecological and economic benefits? A dual perspectives of environmental regulations and capital allocations. Journal of Shanghai University of Finance and Economics. 2024, 1-14. (in Chinese)
[14] Lin Muxi, Xiao Yubo. The impact of green finance on high-quality economic development: Evidence from natural and quasi-experiments in Economics in pilot zones for green finance reform and innovations. Reform. 2023, (12), 78-94. (in Chinese)
[15] Liu Huake, He Chun. Mechanism and verification of how green finance promote urban high-quality economic development: Evidence from 272 prefecture level cities in China. Review of Investment Studies. 2021, 40(07), 37-52. (in Chinese)
[16] Zhang Hongfeng, Wang Yixiang, Li Rui, Si Hongyun & Liu Wei. Can green finance promote urban green development? Evidence from green finance reform and innovation pilot zone in China. Environmental Science and Pollution Research. 2023, 30(5), 12041-12058.
[17] Xie Dongjiang, Hu Shihua. Green finance, industrial structure and urban industrial green total factor productivity. Studies of International Finance. 2023, (05), 46-56. (in Chinese)
[18] Xie Dongjiang, Hu Shihua, Bao Yunxi. Can green finance promote Chinese urban industrial green total factor productivity? Evidence from 285 cities in China. Journal of China University of Geosciences (Social Sciences Edition). 2023, 23(04), 122-137. (in Chinese)
[19] Li Hepei, Chen Chen, and Muhammad Umair. Green Finance, Enterprise Energy Efficiency, and Green Total Factor Productivity: Evidence from China. Sustainability. 2023, 15(14), 11065.
[20] Zhan Shuke,Wang Renzeng, Liu Yaobin. The impact of the synergy between financial technology and green finance on the upgrading of industrial structure: Based on the prespective of heterogeneous environmental regulation. China Population, Resources and Environment. 2023, 33(11), 152-162. (in Chinese)
[21] Hu Wentao, Sun Junna, Chen Liang. Green finance, ecologized industrial structure and regional green development. Contemporary Economic Managemen. t2023, 45(05), 88-96. (in Chinese)
[22] Meng Weifu, Liu Jinghan. The effect and heterogeneity analysis of how green finance promote high-quality cconomic development——Based on the prespective of technological innovation and upgrading industrial structure. Economic Review Journal. 2023, (07), 100-110. (in Chinese)
[23] Si Lijuan, Yao Xiaoqiang. Green finance reform and innovation and regional ecologized industrial structure——Evidence from natural and quasi-experiments in Economics in pilot zones for green finance reform and innovations. Study & Exploration. 2022, (04), 129-138+2. (in Chinese)
[24] Zhang Yu, Qian ShuiTu. Green Finance, Bias of Environmental Technological Progress, and Cleanliness of Industrial Structure. Science Research Management. 2022, 43(04), 129-138. (in Chinese)
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
