IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v103y2025ics1059056025007014.html

The dual threshold effects of rural cultural tourism industry ecology and green finance Support: The moderating effect of regional cultural tourism development

Author

Listed:
  • Zheng, Fengming
  • Tang, Yu
  • Jin, Hao

Abstract

Based on panel data from multiple regions in China spanning from 2007 to 2023, this paper systematically investigates the impact mechanism of green finance support on the ecological development level of the rural cultural tourism industry. The research findings indicate that green finance can effectively enhance the ecological development level of the rural cultural tourism industry. Moreover, the promoting effect of green finance exhibits significant heterogeneity across regions with different economic development levels, with stronger effects observed in more economically developed areas. In addition, from a regional perspective, there are notable differences in this effect among the eastern, central, and western regions. Further analysis reveals a significant double-threshold effect of regional cultural tourism development levels in the relationship between green finance support and industrial ecological development.

Suggested Citation

  • Zheng, Fengming & Tang, Yu & Jin, Hao, 2025. "The dual threshold effects of rural cultural tourism industry ecology and green finance Support: The moderating effect of regional cultural tourism development," International Review of Economics & Finance, Elsevier, vol. 103(C).
    • Handle: RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025007014
    DOI: 10.1016/j.iref.2025.104538
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056025007014
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2025.104538?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Hsiao-Hsien Lin & Ying Ling & Jao-Chuan Lin & Zhou-Fu Liang, 2021. "Research on the Development of Religious Tourism and the Sustainable Development of Rural Environment and Health," IJERPH, MDPI, vol. 18(5), pages 1-20, March.
    2. Zhao, Shuhong & Lu, Feixiang & Sun, Liming, 2025. "An empirical investigation into the driving effects of green transformation policies and media governance on high-quality development in tourism enterprises," Finance Research Letters, Elsevier, vol. 76(C).
    3. Wang, Qunwei & Fan, Zining, 2023. "Green finance and investment behavior of renewable energy enterprises: A case study of China," International Review of Financial Analysis, Elsevier, vol. 87(C).
    4. Yao Zhu & Shousheng Chai & Jieqi Chen & Ian Phau, 2024. "How was rural tourism developed in China? Examining the impact of China’s evolving rural tourism policies," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(11), pages 28945-28969, November.
    5. Sun, Jingyu & Chen, Dan, 2025. "Green credit, tourism technology innovation, and sustainable development of tourism," International Review of Economics & Finance, Elsevier, vol. 99(C).
    6. Ziyu Jia & Yan Jiao & Wei Zhang & Zheng Chen, 2022. "Rural Tourism Competitiveness and Development Mode, a Case Study from Chinese Township Scale Using Integrated Multi-Source Data," Sustainability, MDPI, vol. 14(7), pages 1-17, March.
    7. Shan, Wei & Cheng, Qian & Yu, Xudong & Ma, Zhiqiang, 2024. "Inclusive finance and regional tourism economy: The role of total factor productivity," Finance Research Letters, Elsevier, vol. 67(PA).
    8. Hanzhi Zhang & Jingfeng Zhang & Chih-Hung Pai, 2024. "Promoting carbon neutrality and green growth through cultural industry financing," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-8, December.
    9. Qing, Lingli & Abbas, Jawad & Najam, Hina & Ma, Xiang & Dagestani, Abd Alwahed, 2024. "Investment in renewable energy and green financing and their role in achieving carbon-neutrality and economic sustainability: Insights from Asian region," Renewable Energy, Elsevier, vol. 221(C).
    10. Eirini Papadaki, 2024. "Promoting Green Tourism Synergies with Cultural and Creative Industries: A Case Study of Greece," Sustainability, MDPI, vol. 16(2), pages 1-21, January.
    11. Vasja Roblek & Danijel Drpić & Maja Meško & Vedran Milojica, 2021. "Evolution of Sustainable Tourism Concepts," Sustainability, MDPI, vol. 13(22), pages 1-21, November.
    12. Hailiang, Zeng & Chau, Ka Yin & Waqas, Muhammad, 2023. "Does green finance and renewable energy promote tourism for sustainable development: Empirical evidence from China," Renewable Energy, Elsevier, vol. 207(C), pages 660-671.
    13. Minh-Hoang Nguyen & Thomas E. Jones, 2022. "Building eco-surplus culture among urban residents as a novel strategy to improve finance for conservation in protected areas," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 9(1), pages 1-15, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Li, Meiyi & Fan, Yanmei & Guo, Cheng & Li, Xiaokun, 2025. "Tourism prosperity and high-quality economic development," International Review of Economics & Finance, Elsevier, vol. 101(C).
    2. Minh-Hoang Nguyen & Minh-Phuong Thi Duong & Manh-Cuong Nguyen & Noah Mutai & Ruining Jin & Phuong-Tri Nguyen & Tam-Tri Le & Quan-Hoang Vuong, 2023. "Promoting Stakeholders’ Support for Marine Protection Policies: Insights from a 42-Country Dataset," Sustainability, MDPI, vol. 15(16), pages 1-19, August.
    3. Lei, Hao & Gao, Renyuan & Ning, Chutong & Sun, Guanglin, 2025. "Green finance and corporate green innovation," Finance Research Letters, Elsevier, vol. 72(C).
    4. Ma, Hongchao & Zhang, Haonan, 2024. "Can green energy expansion develop the mineral resource market in East Asia?," Resources Policy, Elsevier, vol. 90(C).
    5. Zhang, Wan & Zhang, Yuyao & Mou, Suitao, 2025. "Green finance development on corporate sustainability: Evidence from china," Finance Research Letters, Elsevier, vol. 82(C).
    6. Lin, Boqiang & Wang, Siquan, 2023. "The performance of specialized and oriented diversified firms: A comparative analysis from the targeted expansion of renewable energy business of listed companies," International Review of Financial Analysis, Elsevier, vol. 89(C).
    7. Quan-Hoang Vuong & Quang-Loc Nguyen & Ruining Jin & Minh-Hieu Thi Nguyen & Thi-Phuong Nguyen & Viet-Phuong La & Minh-Hoang Nguyen, 2023. "Increasing Supply for Woody-Biomass-Based Energy through Wasted Resources: Insights from US Private Landowners," Sustainability, MDPI, vol. 15(11), pages 1-20, May.
    8. Feng, Xinzhen & Zhou, Dequn & Hussain, Tufail, 2024. "An investigation of fintech governance, natural resources and government stability on sustainability: Policy suggestions under the SDGs theme," Resources Policy, Elsevier, vol. 96(C).
    9. Kuo-Yan Wang & Jing Yu & Ka-Yin Chau & Jinchao Chen, 2025. "RETRACTED ARTICLE: Exploring Sustainability Dynamics in Chinese Folk Belief Consumer Behavior: A Quintuple Innovation Helix Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 3350-3385, March.
    10. Gözde Özdemir Uçgun & Muhammed Talha Narcı, 2022. "The Role of Demographic Factors in Tourists’ Sustainability Consciousness, Sustainable Tourism Awareness and Purchasing Behavior," Journal of Tourismology, Istanbul University, Faculty of Economics, vol. 8(2), pages 215-237, December.
    11. Ma, Li & Li, Danna, 2024. "Would macro policy promote green and low-carbon transformation of energy companies?," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    12. Zhao, Zeru, 2024. "Digital Transformation and Enterprise Risk-Taking," Finance Research Letters, Elsevier, vol. 62(PA).
    13. Jianwei Qi & Yayan Lu & Fang Han & Xuankai Ma & Zhaoping Yang, 2022. "Spatial Distribution Characteristics of the Rural Tourism Villages in the Qinghai-Tibetan Plateau and Its Influencing Factors," IJERPH, MDPI, vol. 19(15), pages 1-21, July.
    14. Polat, Onur & Ozcan, Burcu & Ertuğrul, Hasan Murat & Atılgan, Emre & Özün, Alper, 2024. "Fintech: A Conduit for sustainability and renewable energy? Evidence from R2 connectedness analysis," Resources Policy, Elsevier, vol. 94(C).
    15. Haoyu Si & Zia Ur Rahman, 2024. "Embracing the digital revolution: Examining the relationship between ICT adoption and carbon emissions in the Persian Gulf," PLOS ONE, Public Library of Science, vol. 19(6), pages 1-22, June.
    16. repec:osf:osfxxx:xuv3s_v1 is not listed on IDEAS
    17. Lin, Boqiang & Xie, Yongjing, 2024. "How feed-in-tariff subsidies affect renewable energy investments in China? New evidence from firm-level data," Energy, Elsevier, vol. 294(C).
    18. Su, Zhenqing & Li, Jiankun & Pang, Qiwei & Su, Miao, 2025. "China futures market and world container shipping economy: An exploratory analysis based on deep learning," Research in International Business and Finance, Elsevier, vol. 76(C).
    19. Hsiao-Hsien Lin & I.-Yun Chen & Chih-Hung Tseng & Yueh-Shiu Lee & Jao-Chuan Lin, 2022. "A Study of the Impact of River Improvement and Greening on Public Reassurance and the Urban Well-Being Index during the COVID-19 Pandemic," IJERPH, MDPI, vol. 19(7), pages 1-28, March.
    20. Yang Li & Jingjing Pei & Fang Zhang, 2023. "Comprehensive Ecological Planning and Evaluation of Towns from the Perspective of Sustainable Development," Sustainability, MDPI, vol. 15(14), pages 1-18, July.
    21. Nguyen, Minh-Hoang, 2023. "Investigating urban residents' involvement in biodiversity conservation in protected areas: Empirical evidence from Vietnam," Thesis Commons z2hjv, Center for Open Science.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025007014. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620165 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.