Abstract
Finance has a strong role in promoting green development; however, there are very few studies quantifying this relationship. To this end, based on the official green development indicator system of the Chinese government and province-level data from 2006 to 2017, the quantile regression model was used to analyze quantitatively the impact of finance on green development. The results show that financial development contributed significantly to green development, and furthermore, financial efficiency and green finance have a strong positive effect with the increase of the quantile, and financial scale also has a significant positive effect, but a diminishing marginal effect. In addition, the impact of financial development on green development has regional differences. In the eastern region, the finance factors can promote green development, but the financial scale and the green finance promotion function weaken along with the quantile increase. The financial scale and green finance do not support green development significantly in the central region. Financial scale, efficiency, and green finance support green development in the west region.
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Data Availability
The data that support the findings of this study are collected based on the published data by the China National Bureau of Statistics. They are available from the corresponding author on reasonable request.
Notes
Based on statistical mathematics and fuzzy mathematics, cloud model unifies the randomness and fuzziness between uncertain linguistic value and accurate value, and realizes the natural conversion between qualitative linguistic value and quantitative value.
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Funding
We gratefully acknowledge the following financial support: the Youth Program of National Social Science Fund of China (17CJL014), the Special Fund Program of China Postdoctoral Science Foundation (2017T100525), the Soft Science Research Project of Henan Province (212400410523), and the major project of the School of Economics in Henan University “Research on ecological civilization economy in the new era.”
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GX: wrote the draft of the paper. HC: built the model and ran the software. HY: part of literature review, modified and polished language. PS: supervision.
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Xu, G., Chang, H., Yang, H. et al. The influence of finance on China’s green development: an empirical study based on quantile regression with province-level panel data. Environ Sci Pollut Res 29, 71033–71046 (2022). https://doi.org/10.1007/s11356-022-20856-0
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DOI: https://doi.org/10.1007/s11356-022-20856-0