Analysis of the synergistic benefits of regional green finance and the regional economy based on the CRITIC model

Mingxiang Yin; Xiaokang Yang; Bo Xiao

doi:10.54097/hbem.v12i.8320

Authors

Mingxiang Yin
Xiaokang Yang
Bo Xiao

DOI:

https://doi.org/10.54097/hbem.v12i.8320

Keywords:

synergy model, regional green finance, regional economy, Xinjiang, CRITIC.

Abstract

Green finance, which is a form of fusion of the financial and green industries, has a big influence on the economy, and it is vital to investigate both its impact mechanism and its synergistic mechanism. To analyse the synergistic benefits of both, this paper first collects evaluation index data related to green finance and the regional economy in the Xinjiang region of China from 2011 to 2020. Then, it calculates the index weights using the Criteria Importance Through Intercriteria Correlation (CRITIC) method. The findings indicate that although there is a positive trend between the two, the synergy between the regional green finance and economy of Xinjiang is generally at a low stage, and the development of the orderliness of the regional green finance and economy subsystems is unstable. However, the regional economy is less volatile than the regional green finance and has a good development trend.

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