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Role of green finance in renewable energy development in the tourism sector

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Listed:
  • Shang, Yunfeng
  • Zhu, Lingrou
  • Qian, Fangbin
  • Xie, Yani

Abstract

The primary purpose of this paper is to evaluate the impacts of green finance on green energy deployment in China's tourism industry. To this end, the annual data over 1992–2021 through the ARDL (Autoregressive Distributed Lag) approach for the case of China are analyzed. The findings confirm that the issued green bonds positively impact the green efficiency of China's tourism industry in the long term. In contrast, the coefficient of issued green bonds is insignificant for the short-term approach. In addition, in the short and long term, the consumer price index also has a significant adverse effect on the green efficiency of China's tourism industry. The recommended practical policies are improving executive regulations and transparent market information, implementing green fiscal policies, green construction in hotels and tourist accommodations, green globalization, operational phases of innovation, adaptation, and stabilization (IAS), and eco-tourism regionalism.

Suggested Citation

  • Shang, Yunfeng & Zhu, Lingrou & Qian, Fangbin & Xie, Yani, 2023. "Role of green finance in renewable energy development in the tourism sector," Renewable Energy, Elsevier, vol. 206(C), pages 890-896.
    • Handle: RePEc:eee:renene:v:206:y:2023:i:c:p:890-896
    DOI: 10.1016/j.renene.2023.02.124
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    More about this item

    Keywords

    Green finance; Renewable energy; Tourism sector; China;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • Q27 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Issues in International Trade
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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