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Research on the Impact of Financial Development on Carbon Emissions: Does Industrial Structure Upgrading Matter?

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

Author

Listed:
  • Shun-Ho Chu

    (Macau University of Science and Technology, School of Business)

  • Yichi Zhang

    (Macau University of Science and Technology, School of Business)

  • Yue Pan

    (Macau University of Science and Technology, School of Business)

  • Baoke Fan

    (Macau University of Science and Technology, School of Business)

  • Ruohan Wang

    (Macau University of Science and Technology, School of Business)

  • Jiameng Gu

    (Macau University of Science and Technology, School of Business)

Abstract

The purpose of the study tries to investigate the impact of financial development on carbon emissions. In addition, the study also examines the mediating effect of industrial structure upgrading on the relationship between financial development and carbon emissions. Using annual data of 283 cities in China over the period 2006 to 2019, the study employs natural logarithm of carbon emission as dependent variable and credits and deposits scaled by GDP as independent variable to financial development. The study also has mediator of industrial structure upgrading. In addition, the study adds FDI, government spending, fixed investment and population as control variables in estimation regression. The empirical results of the study reveal that financial development has a significant and negative impact on carbon emissions. The study also finds that industrial structure upgrading has a mediating effect on the relationship between financial development and carbon emissions.

Suggested Citation

  • Shun-Ho Chu & Yichi Zhang & Yue Pan & Baoke Fan & Ruohan Wang & Jiameng Gu, 2022. "Research on the Impact of Financial Development on Carbon Emissions: Does Industrial Structure Upgrading Matter?," 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 1597-1606, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_177
    DOI: 10.2991/978-94-6463-052-7_177
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