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The Coupling and Coordinated Development of Green Builds and Financial Development in China

Author

Listed:
  • Zhong Fang

    (School of Economics, Fujian Normal University, Fuzhou 350007, China)

  • Hongrui Zhang

    (Department of Statistical Science, University College London, London WC1E 6BT, UK)

  • Jianlin Wang

    (School of Economics, Fujian Normal University, Fuzhou 350007, China)

  • Junbo Tong

    (School of Economics, Fujian Normal University, Fuzhou 350007, China)

  • Xiaoxiao Li

    (School of Economics, Fujian Normal University, Fuzhou 350007, China)

Abstract

As a labor-intensive industry with a strong industrial driving force and high-technology integration, green buildings offer some comparative advantages. Driven by the concept of green development, green buildings are ushering in a period of opportunity for integrated development among multiple fields. Therefore, this research will select the panel data of the financial industry and the green buildings industry in 2014 and 2018, respectively, in 31 provinces in China (excluding Hong Kong, Macao and Taiwan) and, through the method of factor analysis, will innovatively construct a financial industry development index and a green building Development Index for each province in China. Through the coupling coordination model, it studies the development level of the financial industry and green buildings in various provinces, in order to deeply explore the path and mechanism of coordinated development between the two. The results show that the financial industry and green buildings in the eastern coastal areas have a high level of coupling, and the coupling and coordinated development have a greater degree of correlation. The potential for coupling and coordination in Central China is developing for the better, while volatility in the Northeast and Northwest regions is relatively large. From the time dimension angle, the degree of coupling and coordination between green buildings and the financial industry in China is generally low, and in the transitional stage, from the brink of unbalanced development to a primary stage of coordinated development. Accordingly, this paper proposes that local government should pay attention to the coordination relationship between green buildings and financial industry development and formulate a coordination mechanism between their growth according to local conditions, so as to promote the correct interactive advancement of the two.

Suggested Citation

  • Zhong Fang & Hongrui Zhang & Jianlin Wang & Junbo Tong & Xiaoxiao Li, 2022. "The Coupling and Coordinated Development of Green Builds and Financial Development in China," IJERPH, MDPI, vol. 19(14), pages 1-19, July.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:14:p:8685-:d:864648
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    References listed on IDEAS

    as
    1. Kewen Zhang, 2021. "Research on the Development of Green Real Estate Finance in Guizhou Province," Springer Books, in: Fenjie Long & Sheng Zheng & Yuzhe Wu & Gangying Yang & Yan Yang (ed.), Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate, pages 629-640, Springer.
    2. Chen, Xi & Yang, Hongxing & Lu, Lin, 2015. "A comprehensive review on passive design approaches in green building rating tools," Renewable and Sustainable Energy Reviews, Elsevier, vol. 50(C), pages 1425-1436.
    3. Zuo, Jian & Zhao, Zhen-Yu, 2014. "Green building research–current status and future agenda: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 30(C), pages 271-281.
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