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Research on the Impact of Digital Finance on the Green Development of Chinese Cities

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  • Jianhua Zhao
  • Guohua He
  • Wen-Tsao Pan

Abstract

This paper takes 286 prefecture-level Chinese cities from 2011 to 2019 as research objects. It empirically examines the influence of digital finance on green development by using the EBM model, two-way fixed effect model, and instrumental variable method. It is found that digital finance can significantly promote the green development of Chinese cities, and this conclusion is still valid after the robustness tests, such as the instrumental variable method dealing with endogeneity and two-sided winsorization. The mechanism analysis results suggest that only the breadth of digital finance can significantly promote green development in the internal mechanism of digital finance, but the effect of coverage depth and digitization degree is not significant. The external mechanism of industrial structure upgrading assumes the mediating role of digital finance in improving the level of green development. The heterogeneity analysis results show that digital finance has a stronger impact on green development in the central and western cities and small-scale cities. This paper contributes to the study of the relationship between digital finance and green development and puts forward relevant suggestions.

Suggested Citation

  • Jianhua Zhao & Guohua He & Wen-Tsao Pan, 2022. "Research on the Impact of Digital Finance on the Green Development of Chinese Cities," Discrete Dynamics in Nature and Society, Hindawi, vol. 2022, pages 1-10, April.
    • Handle: RePEc:hin:jnddns:3813474
    DOI: 10.1155/2022/3813474
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    Cited by:

    1. Ying Tian & Jiayi Hong, 2022. "In the Context of Digital Finance, Can Knowledge Enable Manufacturing Companies to Be More Courageous and Move towards Sustainable Innovation?," Sustainability, MDPI, vol. 14(17), pages 1-24, August.
    2. Tianshun Ruan & Ying Gu & Xinhao Li & Rong Qu, 2022. "Research on the Practical Path of Resource-Based Enterprises to Improve Environmental Efficiency in Digital Transformation," Sustainability, MDPI, vol. 14(21), pages 1-17, October.
    3. Yan, Xiang & Bai, Jiancheng & Zhang, Yueyan & Hu, Shiliang, 2022. "Can the ecological environment reverse feed renewable energy technology innovation? -- Heterogeneity test from the Yangtze River Economic Belt," Renewable Energy, Elsevier, vol. 195(C), pages 1381-1392.
    4. Fang Song & Xuerong Xu, 2023. "How Operation Scale Improve the Production Technical Efficiency of Grape Growers? An Empirical Evidence of Novel Panel Methods for China’s Survey Data," Sustainability, MDPI, vol. 15(4), pages 1-19, February.
    5. Lv, Chengchao & Song, Jie & Lee, Chien-Chiang, 2022. "Can digital finance narrow the regional disparities in the quality of economic growth? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 502-521.
    6. Wang, Yuyan & Wu, Qinghua & Razi, Ummara, 2023. "Drivers and mitigants of resources consumption in China: Discovering the role of digital finance and environmental regulations," Resources Policy, Elsevier, vol. 80(C).
    7. Haiyang Qiu & Xin Li & Long Zhang, 2023. "Influential Effect and Mechanism of Digital Finance on Urban Land Use Efficiency in China," Sustainability, MDPI, vol. 15(20), pages 1-21, October.

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