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Green finance and urban economic resilience

Author

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  • Cao, Xianfei
  • Liu, Man
  • Du, He

Abstract

The impact of green finance on urban economic resilience was empirically examined using panel data spanning 2009–2023 from 277 Chinese cities. Results indicate that green finance significantly enhances urban economic resilience by promoting industrial structure upgrading and green technology innovation. This finding was verified through mechanism analysis. Heterogeneity analysis shows that this positive effect is more pronounced in cities with high levels of economic development, those with high exposure to market forces, those with high human capital level, and nonresource-based cities. This paper provides insights for improving urban economic resilience.

Suggested Citation

  • Cao, Xianfei & Liu, Man & Du, He, 2026. "Green finance and urban economic resilience," Finance Research Letters, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:finlet:v:87:y:2026:i:c:s1544612325022548
    DOI: 10.1016/j.frl.2025.109001
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