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Digital Financial Inclusion, Financial Efficiency and Green Innovation

Author

Listed:
  • Yanru Li

    (College of Economics and Management, Nanjing Forestry University, Nanjing 210037, China
    Nanjing Intellectual Property Protection Center, Nanjing 211800, China)

  • Guanglin Sun

    (School of Finance, Nanjing University of Finance and Economics, Nanjing 210023, China
    Institute of Industrial Economics of Chinese Academy of Social Sciences, Beijing 100006, China)

  • Qiang Gao

    (College of Economics and Management, Nanjing Forestry University, Nanjing 210037, China)

  • Changming Cheng

    (College of Economics and Management, Nanjing Forestry University, Nanjing 210037, China)

Abstract

The financing difficulty of green innovation projects has always been an obstacle to enterprises’ green innovation. Digital financial inclusion provides a new opportunity to solve the financing difficulty of green innovation. Based on the construction of a theoretical framework for digital financial inclusion to influence green innovation, this study empirically analyzes the impact and mechanism of digital financial inclusion on green innovation by using the provincial panel data of China from 2011 to 2020. The results show that digital financial inclusion has a significant positive impact on green innovation. The promotion effect of the development of digital financial inclusion on green innovation is mainly driven by the depth of digital financial inclusion use and the digitalization of financial inclusion. The results of the intermediary effect analysis show that digital financial inclusion can promote green innovation by alleviating capital misallocation and improving financial efficiency.

Suggested Citation

  • Yanru Li & Guanglin Sun & Qiang Gao & Changming Cheng, 2023. "Digital Financial Inclusion, Financial Efficiency and Green Innovation," Sustainability, MDPI, vol. 15(3), pages 1-13, January.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:3:p:1879-:d:1040390
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    References listed on IDEAS

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    Cited by:

    1. Jin, Cheng & Lv, Zhiwei & Li, Zengrong & Sun, Kehan, 2023. "Green finance, renewable energy and carbon neutrality in OECD countries," Renewable Energy, Elsevier, vol. 211(C), pages 279-284.
    2. Min Zhang & Chengrong Li & Jinshan Zhang & Hongwei Chen, 2023. "How Green Finance Affects Green Total Factor Productivity—Evidence from China," Sustainability, MDPI, vol. 16(1), pages 1-18, December.

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