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The green development mechanism of the Beijing-Tianjin-Hebei coordinated development strategy in China: Novel evidence of green finance

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  • Ma, Baolin
  • Li, Yongxin
  • Zhou, Bo
  • Jian, Yaode
  • Zhang, Cheng
  • An, Jin

Abstract

The Beijing-Tianjin-Hebei (BTH) coordinated development strategy is one of the most notable policy attempts made by the Chinese central government to achieve regional coordinated green development. Utilizing panel data of China's 30 provinces from 2000 to 2019, this paper employs the regression control method to investigate the effect and mechanism of the BTH coordinated development strategy on green development. Empirical evidence reveals that the BTH coordinated development strategy has a significant positive effect on green development in Beijing and Tianjin. However, the effect in Hebei is not statistically significant. This study further finds that green finance can explain this heterogeneity. The BTH coordinated development strategy promotes green development in Beijing and Tianjin by promoting the development of green finance, but the strategy fails to boost the development of green finance in Hebei. Thus, the strategy cannot contribute to green development in Hebei.

Suggested Citation

  • Ma, Baolin & Li, Yongxin & Zhou, Bo & Jian, Yaode & Zhang, Cheng & An, Jin, 2025. "The green development mechanism of the Beijing-Tianjin-Hebei coordinated development strategy in China: Novel evidence of green finance," International Review of Economics & Finance, Elsevier, vol. 98(C).
    • Handle: RePEc:eee:reveco:v:98:y:2025:i:c:s1059056025001042
    DOI: 10.1016/j.iref.2025.103941
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