IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i12p9813-d1175001.html
   My bibliography  Save this article

Analyzing the Relationship between Green Finance and Agricultural Industrial Upgrading: A Panel Data Study of 31 Provinces in China

Author

Listed:
  • Min Zhu

    (School of Economics, Shandong University of Technology, Zibo 255000, China)

  • Mengqi Sun

    (School of Economics, Shandong University of Technology, Zibo 255000, China)

  • Ehsan Elahi

    (School of Economics, Shandong University of Technology, Zibo 255000, China)

  • Yajie Li

    (School of Economics, Shandong University of Technology, Zibo 255000, China)

  • Zainab Khalid

    (School of Economics and Management, Southeast University, Nanjing 211189, China)

Abstract

This study examines the impact of green finance on optimizing China’s agricultural industrial structure. It emphasizes the importance of innovative green financial services, improved efficiency, tailored regional approaches, and enhanced foresight to foster a high-level development in the agricultural sector amid China’s economic transformation. Based on the provincial panel data of 31 provinces in China from 2012 to 2021, this study empirically tests the effect mechanism of green finance on the optimization process of the agricultural industrial structure by constructing a fixed-effects model. This study finds that green finance can effectively promote the development of the optimization of the agricultural industrial structure. Under the current trend of China’s economic structural transformation and optimization, we suggest that China should innovate green financial service products, improve the efficiency of green finance, and enhance the depth of green financial services for the optimization of the agricultural industrial structure. It is required to strengthen foresight and improve relevant laws, regulations, policies, and standards. To help green finance be better promoted, a high-level development of the agricultural industrial structure is required.

Suggested Citation

  • Min Zhu & Mengqi Sun & Ehsan Elahi & Yajie Li & Zainab Khalid, 2023. "Analyzing the Relationship between Green Finance and Agricultural Industrial Upgrading: A Panel Data Study of 31 Provinces in China," Sustainability, MDPI, vol. 15(12), pages 1-19, June.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9813-:d:1175001
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/12/9813/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/12/9813/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lili Guo & Shuang Zhao & Yuting Song & Mengqian Tang & Houjian Li, 2022. "Green Finance, Chemical Fertilizer Use and Carbon Emissions from Agricultural Production," Agriculture, MDPI, vol. 12(3), pages 1-18, February.
    2. Elahi, Ehsan & Zhang, Hongxia & Lirong, Xing & Khalid, Zainab & Xu, Haiyun, 2021. "Understanding cognitive and socio-psychological factors determining farmers’ intentions to use improved grassland: Implications of land use policy for sustainable pasture production," Land Use Policy, Elsevier, vol. 102(C).
    3. Elahi, Ehsan & Khalid, Zainab & Tauni, Muhammad Zubair & Zhang, Hongxia & Lirong, Xing, 2022. "Extreme weather events risk to crop-production and the adaptation of innovative management strategies to mitigate the risk: A retrospective survey of rural Punjab, Pakistan," Technovation, Elsevier, vol. 117(C).
    4. Fushuai Wang & Wenxia Cai & Ehsan Elahi, 2021. "Do Green Finance and Environmental Regulation Play a Crucial Role in the Reduction of CO 2 Emissions? An Empirical Analysis of 126 Chinese Cities," Sustainability, MDPI, vol. 13(23), pages 1-20, November.
    5. Taghizadeh-Hesary, Farhad & Yoshino, Naoyuki, 2019. "The way to induce private participation in green finance and investment," Finance Research Letters, Elsevier, vol. 31(C), pages 98-103.
    6. Elahi, Ehsan & Khalid, Zainab & Zhang, Zhixin, 2022. "Understanding farmers’ intention and willingness to install renewable energy technology: A solution to reduce the environmental emissions of agriculture," Applied Energy, Elsevier, vol. 309(C).
    7. Lin, Dongyu & Foster, Dean P. & Ungar, Lyle H., 2011. "VIF Regression: A Fast Regression Algorithm for Large Data," Journal of the American Statistical Association, American Statistical Association, vol. 106(493), pages 232-247.
    8. Qi Jiang & Jizhi Li & Hongyun Si & Yangyue Su, 2022. "The Impact of the Digital Economy on Agricultural Green Development: Evidence from China," Agriculture, MDPI, vol. 12(8), pages 1-22, July.
    9. Yuxuan Xu & Jie Lyu & Ying Xue & Hongbin Liu, 2022. "Does the Agricultural Productive Service Embedded Affect Farmers’ Family Economic Welfare Enhancement? An Empirical Analysis in Black Soil Region in China," Agriculture, MDPI, vol. 12(11), pages 1-22, November.
    10. Elahi, Ehsan & Khalid, Zainab, 2022. "Estimating smart energy inputs packages using hybrid optimisation technique to mitigate environmental emissions of commercial fish farms," Applied Energy, Elsevier, vol. 326(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zhen Wang & Xiaoyu Zhang & Hui Lu & Xiaolan Kang & Bin Liu, 2023. "The Effect of Industrial Agglomeration on Agricultural Green Production Efficiency: Evidence from China," Sustainability, MDPI, vol. 15(16), pages 1-23, August.

    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. Yan Zhao & Ehsan Elahi & Zainab Khalid & Xuegang Sun & Fang Sun, 2023. "Environmental, Social and Governance Performance: Analysis of CEO Power and Corporate Risk," Sustainability, MDPI, vol. 15(2), pages 1-18, January.
    2. Min Zhu & Yajie Li & Zainab Khalid & Ehsan Elahi, 2023. "Comprehensive Evaluation and Promotion Strategy of Agricultural Digitalization Level," Sustainability, MDPI, vol. 15(8), pages 1-15, April.
    3. Xiuli Cui & Ehsan Elahi & Zainab Khalid & Bo Xu, 2022. "Environmental Regulation, Manufacturing Technological Progress and Pollution Emissions: Empirical Evidence from China," Sustainability, MDPI, vol. 14(23), pages 1-19, December.
    4. Wei Wang & Ehsan Elahi & Shiying Sun & Xiaoqing Tong & Zhaosen Zhang & Mohammad Ilyas Abro, 2023. "Factors Influencing Water Use Efficiency in Agriculture: A Case Study of Shaanxi, China," Sustainability, MDPI, vol. 15(3), pages 1-14, January.
    5. Yihao Cao & Ehsan Elahi & Zainab Khalid & Ping Li & Pengsheng Sun, 2023. "How Do Intellectual Property Rights Affect Green Technological Innovation? Empirical Evidence from China," Sustainability, MDPI, vol. 15(10), pages 1-17, May.
    6. Xiaolong Gao & Changfei Li & Ehsan Elahi & Mohammad Ilyas Abro & Zhaocai Cui, 2023. "Technological Innovation, Product Quality and Upgrading of Manufacturing Value Chain: Empirical Evidence from China," Sustainability, MDPI, vol. 15(9), pages 1-19, April.
    7. Du Peng & Ehsan Elahi & Zainab Khalid, 2023. "Productive Service Agglomeration, Human Capital Level, and Urban Economic Performance," Sustainability, MDPI, vol. 15(9), pages 1-25, April.
    8. Min Zhu & Haiyun Tang & Ehsan Elahi & Zainab Khalid & Kaili Wang & Nimra Nisar, 2022. "Spatial-Temporal Changes and Influencing Factors of Ecological Protection Levels in the Middle and Lower Reaches of the Yellow River," Sustainability, MDPI, vol. 14(22), pages 1-16, November.
    9. Shengnan Huang & Ehsan Elahi, 2022. "Farmers’ Preferences for Recycling Pesticide Packaging Waste: An Implication of a Discrete Choice Experiment Method," Sustainability, MDPI, vol. 14(21), pages 1-13, October.
    10. Haidong Yuan & Chin-Hong Puah & Josephine Tan-Hwang Yau, 2022. "How Does Population Aging Impact Household Financial Asset Investment?," Sustainability, MDPI, vol. 14(22), pages 1-14, November.
    11. Feng Ji & Guangyuan Zhao & Lun Meng & Rana Tehseen & Fushuai Wang, 2022. "Cultivating Talents for Reporting Environmental News on China’s Carbon Neutrality Policy," Sustainability, MDPI, vol. 14(24), pages 1-19, December.
    12. Kaili Wang & Ehsan Elahi & Yuge Zhang & Di Wang & Zainab Khalid, 2022. "A Development of Green Finance and Regional Eco-Efficiency in China," Sustainability, MDPI, vol. 14(22), pages 1-18, November.
    13. Xingshuai Wang & Ehsan Elahi & Zainab Khalid & Mohammad Ilyas Abro, 2023. "Environmental Governance Goals of Local Governments and Technological Innovation of Enterprises under Green Performance Assessment," IJERPH, MDPI, vol. 20(3), pages 1-19, January.
    14. Lirong Xing & Xiaomiao Yin & Chuanxiang Cao & Ehsan Elahi & Taoyuan Wei, 2022. "The Impact of Multidimensional Distance on Agricultural Exports: Evidence from China Based on the Technological Added Value," Sustainability, MDPI, vol. 15(1), pages 1-17, December.
    15. Shaeden Gokool & Maqsooda Mahomed & Richard Kunz & Alistair Clulow & Mbulisi Sibanda & Vivek Naiken & Kershani Chetty & Tafadzwanashe Mabhaudhi, 2023. "Crop Monitoring in Smallholder Farms Using Unmanned Aerial Vehicles to Facilitate Precision Agriculture Practices: A Scoping Review and Bibliometric Analysis," Sustainability, MDPI, vol. 15(4), pages 1-18, February.
    16. Shuyun Li & Mingxue Wei & Ehsan Elahi & Zainab Khalid & Shaozhi Chen, 2023. "The Sustainable Impact of Import on Chinese Residents’ Happiness: Evidence from CGSS," Sustainability, MDPI, vol. 15(8), pages 1-18, April.
    17. Pingan Xiang & Jian Guo, 2023. "Understanding Farmers’ Intentions to Adopt Pest and Disease Green Control Techniques: Comparison and Integration Based on Multiple Models," Sustainability, MDPI, vol. 15(14), pages 1-18, July.
    18. Jingxing Zhang, 2022. "Impact of Manufacturing Servitization on Factor Productivity of Industrial Sector Using Global Value Chain," Sustainability, MDPI, vol. 14(9), pages 1-15, April.
    19. Lun Wang & Ehsan Elahi & Yuzhong Zhou & Liming Wang & Shihan Zhang, 2022. "A Review of Packaging Materials’ Consumption Regulation and Pollution Control," Sustainability, MDPI, vol. 14(23), pages 1-16, November.
    20. Li, Shuoshuo & Liu, Yaobin & Elahi, Ehsan & Meng, Xiao & Deng, Weifeng, 2023. "A new type of urbanization policy and transition of low-carbon society: A "local- neighborhood" perspective," Land Use Policy, Elsevier, vol. 131(C).

    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:gam:jsusta:v:15:y:2023:i:12:p:9813-:d:1175001. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.