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Analysis of Impact of Green New Deal on Development of Green Economy

Author

Listed:
  • Mengyao Guo
  • Yiniu Cui
  • Jianhong Cao
  • Cheng Zhong

Abstract

Currently, nations worldwide are actively promoting various environmental movements to address the ecological crisis. Among these, the most prominent is the Green New Deal (GND). However, during the development of the GND, some scholars have identified that its advancement may lead to more severe environmental problems. Therefore, this study constructs indicators for green economic development and the GND. Utilizing an Ordinary Least Squares (OLS) regression model and a Spatial Durbin Model (SDM) and based on panel data from 30 Chinese provinces spanning 2008 to 2021, it specifically analyzes the impact of the GND on green economic development. The study further examines the spatial effects and externality impacts of the GND. Additionally, green finance is selected as a mediating variable to further explore the relationship between the GND, green finance and green economic development, analyzing the mediating role that green finance plays between them.

Suggested Citation

  • Mengyao Guo & Yiniu Cui & Jianhong Cao & Cheng Zhong, 2025. "Analysis of Impact of Green New Deal on Development of Green Economy," Politická ekonomie, Prague University of Economics and Business, vol. 2025(4), pages 615-656.
    • Handle: RePEc:prg:jnlpol:v:2025:y:2025:i:4:id:1461:p:615-656
    DOI: 10.18267/j.polek.1461
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    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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