Zhu, Jinying and Wang, Guanghao and Goh, Lim Thye and Tao, Miaomiao (2024) How financial development mitigates carbon intensity: Insight from China’s 30 provinces. Chinese Economy, 57 (2). 123 – 146. ISSN 1097-1475, DOI https://doi.org/10.1080/10971475.2023.2287300.
Full text not available from this repository.Abstract
Given the importance of financial development in promoting socioeconomic green transition, this study used a balanced panel data set spanning China’s 30 provinces from 1995 to 2018 to investigate how financial development has reduced carbon emission intensity from linear and nonlinear perspectives. First, the quantile regression results indicated that financial development (FD) significantly eradicated carbon emission intensity (CEI) across all quantiles with minor fluctuations in an influential degree. Second, FD significantly reduced CEI in nearby and local areas after implementing spatial econometric models. Third, using a spatial mediating effect model, FD's promoting effects on technological innovation and industrial structure advancement were two channels to help reduce CEI. Third, using a spatial mediating effect model, FD's promoting effects on technological innovation and industrial structure advancement were two channels to help reduce CEI. Finally, the nonlinear relationship between FD and the CEI was identified at the national level using a panel threshold model with spatial elements to recognize the mediating effects of technological innovation and industrial structure advancement. These findings emphasized the importance of continuing to refine and develop the financial mechanism and financial market, encouraging firm R&D investment, and vigorously upgrading and optimizing the industrial structure to reduce China’s carbon emissions reduction intensity. © 2023 Taylor & Francis Group, LLC.
| Item Type: | Article |
|---|---|
| Funders: | UNSPECIFIED |
| Uncontrolled Keywords: | Carbon intensity; Financial development; Nonlinearity; Spatial spillover effect |
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HG Finance |
| Divisions: | Faculty of Business and Economics |
| Depositing User: | Ms. Juhaida Abd Rahim |
| Date Deposited: | 16 Apr 2024 03:23 |
| Last Modified: | 16 Apr 2024 03:23 |
| URI: | http://eprints.um.edu.my/id/eprint/44994 |
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