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How does green competitiveness promote high-quality economic development? A financial deepening perspective

Author

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  • Liu, Weiwei
  • Wei, Bo'an
  • Zhang, Weiwei

Abstract

Driven by the dual objectives of carbon neutrality and high-quality development, green competitiveness has become a key indicator of urban green development capacity and economic performance. Using panel data for Chinese prefecture-level cities from 2006 to 2023, this study measures urban green competitiveness by employing the super-efficiency Charnes–Cooper–Rhodes and slack-based measure models and constructs a high-quality economic development index using the entropy method. Results show that green competitiveness significantly improves the quality of urban economic development, with findings remaining robust across multiple validation tests. Further analysis indicates that industrial structure upgrading and green technological innovation serve as important mediating channels, while financial deepening strengthens the positive economic effects of green competitiveness, underscoring the enabling role of financial development. These findings offer policy-relevant insights for enhancing green competitiveness, strengthening financial support mechanisms, and advancing sustainable high-quality economic development.

Suggested Citation

  • Liu, Weiwei & Wei, Bo'an & Zhang, Weiwei, 2026. "How does green competitiveness promote high-quality economic development? A financial deepening perspective," Finance Research Letters, Elsevier, vol. 95(C).
    • Handle: RePEc:eee:finlet:v:95:y:2026:i:c:s1544612326001571
    DOI: 10.1016/j.frl.2026.109626
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