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The impact of green finance on China's regional energy consumption structure based on system GMM

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  • Sun, Haiyan
  • Chen, Fushan

Abstract

As an innovative financial model that promotes sustainable economic development, green finance is an important means to promote the adjustment of my country's energy consumption structure. This paper proposes corresponding policy recommendations based on the theoretical and empirical analysis results of the impact of green finance on the energy consumption structure of different regions in my country. Research indicates:(1) From a national perspective, the development of green finance is positively correlated with the structure of energy consumption, indicating that the improvement of the level of green finance development will effectively promote the adjustment of energy consumption structure, indicating that green finance has an obvious positive effect on the adjustment of energy consumption structure. The coefficient of economic development level is positive, and energy prices are positively correlated with energy consumption structure, but the overall impact is weak. The industrial structure and energy consumption structure are negatively correlated, but the significance test is not passed. Foreign direct investment and energy consumption structure have a significant negative correlation. (2) From a regional perspective, in eastern region，the level of green finance development has a positive impact on the energy consumption structure of the eastern region and the control variables of economic development level, energy prices and industrial structure are not significant, but foreign direct investment has a positive impact on the energy consumption structure of the eastern region; in the central region, the development level of regional green finance has a positive impact on the energy consumption structure, but it is not significant, and the level of economic development, energy prices, and industrial structure are not significant, but foreign direct investment has a significant negative impact on the energy consumption structure of the central region; in the western region, green finance has a positive impact on the energy consumption structure, but the significance is not passed test, and the level of economic development, energy prices, industrial structure and foreign direct investment are significant. The policy recommendations based on the impact of the development of green finance on the energy consumption structure derived from the research of the thesis are helpful to provide a reference for my country's green finance to promote the adjustment of energy consumption structure.

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  • Sun, Haiyan & Chen, Fushan, 2022. "The impact of green finance on China's regional energy consumption structure based on system GMM," Resources Policy, Elsevier, vol. 76(C).
    • Handle: RePEc:eee:jrpoli:v:76:y:2022:i:c:s0301420722000393
    DOI: 10.1016/j.resourpol.2022.102588
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