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Does Green Finance Influence Regional Carbon Emission Intensity? Evidence from China

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

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  • Mintianrui Ye

    (Shanghai University of International Business and Economics, School of Financial Management)

Abstract

Green finance is crucial to mitigate carbon emission intensity. However, the existing researches barely consider its practical effect and the transmission mechanism. Using sample data of 30 provinces in China for the periods 2016–2019, this paper incorporates a comprehensive index system and more accurate amounts of carbon emissions into measuring green finance and carbon emission intensity. Based on that, the research constructs the OLS regression model and fixed-effect model to analyze the carbon reduction effect of green finance from two aspects: whole and regional. The empirical results demonstrate that green finance has an overall significant influence on abating carbon emissions in China. Additionally, green finance in pilot zones for green finance reform and innovations lessens carbon emissions intensity more visibly than that in non-pilot areas. The study finds that the establishment of the pilot zones arouses local government’s concern about the reform of green finance and promotes more effective implementation of green finance policies. In addition, compared with western and central economic regions, the development of green finance in eastern economic areas has a higher correlation with the curb of carbon emissions. Hence, green finance’s actual impact on carbon reduction is related to regional characteristics, especially economic conditions. These findings are essential for policy-makers to cut down on carbon emissions at the local level.

Suggested Citation

  • Mintianrui Ye, 2022. "Does Green Finance Influence Regional Carbon Emission Intensity? Evidence from China," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 1104-1115, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_124
    DOI: 10.2991/978-94-6463-052-7_124
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