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An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect

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  • Yu Sun

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Huaping Sun

    (School of Finance and Economics, Jiangsu University, Zhenjiang 212013, China
    School of Economics and Management, Hebei University of Technology, Tianjin 300401, China)

  • Zhiqiang Ma

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Mingxing Li

    (School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Dan Wang

    (School of Finance and Economics, Zhenjiang College, Zhenjiang 212028, China)

Abstract

In this paper, the panel data of 30 provinces in China from 2011 to 2019 are analyzed by the spatial measure model and the threshold regression model. The results show that the air quality level is positively correlated with green finance, but there is no spatial effect. The spatial effect of the three influencing factors, including the degree of openness, the level of infrastructure, and the level of education, is the crowding-out effect. At the same time, variables such as human resource level, air quality, and infrastructure construction level all have threshold effects in the relationship between green finance and economic development. The research conclusions suggested that local governments at all levels should formulate policies according to the actual situation to promote the development of provinces’ intensive, intelligent, and green development, and build a regionally-linked green finance development model, thereby promoting the improvement of green finance.

Suggested Citation

  • Yu Sun & Huaping Sun & Zhiqiang Ma & Mingxing Li & Dan Wang, 2022. "An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect," Energies, MDPI, vol. 15(3), pages 1-13, January.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:3:p:952-:d:736438
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    References listed on IDEAS

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    3. Aydin, Mucahit, 2019. "The effect of biomass energy consumption on economic growth in BRICS countries: A country-specific panel data analysis," Renewable Energy, Elsevier, vol. 138(C), pages 620-627.
    4. Le, Thai-Ha & Nguyen, Canh Phuc, 2019. "Is energy security a driver for economic growth? Evidence from a global sample," Energy Policy, Elsevier, vol. 129(C), pages 436-451.
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