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Green finance policies, local government fiscal pressure, and clean energy utilization efficiency

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  • Jiang, Yiming
  • Li, Xiaohua

Abstract

This study explores the relationship between green finance policies (GFP), local government fiscal pressure, and clean energy utilization efficiency (CEUE). Using panel data from urban areas in China between 2010 and 2023, the findings reveal that the implementation of GFP significantly enhances CEUE. Local government fiscal pressure negatively moderates the relationship between GFP and CEUE. Furthermore, the impact of GFP on CEUE exhibits heterogeneity across cities with varying levels of solid waste treatment. Additional analysis indicates that government intervention mediates the relationship between GFP and CEUE, with the mediating effect varying across cities with different infrastructure levels. The results provide policymakers with a theoretical basis for how to enhance CEUE through GFP and government intervention, along with targeted policy recommendations aimed at optimizing policy outcomes and promoting a green transition.

Suggested Citation

  • Jiang, Yiming & Li, Xiaohua, 2026. "Green finance policies, local government fiscal pressure, and clean energy utilization efficiency," Finance Research Letters, Elsevier, vol. 89(C).
    • Handle: RePEc:eee:finlet:v:89:y:2026:i:c:s1544612325025358
    DOI: 10.1016/j.frl.2025.109286
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