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Green finance, consumption structure upgrading, and regional sustainable development

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  • Zhang, Xiaoyuan
  • Li, Minzhuo
  • Deng, Yaling
  • Tang, Yuhong

Abstract

Green finance is an important means to promote the efficient use of resources while improving the quality of the ecological environment, and it is a new driving force to enhance the level of regional sustainable development. Based on the provincial panel data from 2012 to 2022, this paper constructs the index of green finance development level and regional sustainable development level by using entropy weight method, and establishes an econometric model to explore the impact of green finance development level on regional sustainable development level. The conclusions are as follows: (1) the improvement of green financial development level can promote the improvement of regional sustainable development level, and the conclusion of the impact is reliable after a series of robustness tests; (2) the improvement of green financial development level can improve the regional sustainable development level by promoting the upgrading of the consumption structure; (3) the impact of the green financial development level on the regional sustainable development level is characterized by regional heterogeneity. Based on this, this paper puts forward policy recommendations from three aspects: deepening the structural reform of the supply side of green finance, activating the green consumption market, and implementing regional differentiated green finance development strategies.

Suggested Citation

  • Zhang, Xiaoyuan & Li, Minzhuo & Deng, Yaling & Tang, Yuhong, 2025. "Green finance, consumption structure upgrading, and regional sustainable development," Finance Research Letters, Elsevier, vol. 86(PC).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pc:s1544612325017933
    DOI: 10.1016/j.frl.2025.108539
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