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Regional differences, dynamic evolution, and spatial-temporal convergence of green finance development level in China
Lingui Qin1, Songqi Liu1, Yi Wang1
1School of Economics and Management, Shenyang Agricultural University, Shenyang, 110866, China.
Environmental Science and Pollution Research International
|February 5, 2024
Summary
Green finance development in China is rising but unbalanced regionally, with expanding overall differences driven by inter-regional disparities. Convergence is observed in the central region, while others show limited or no significant convergence.
Area of Science:
- Environmental Economics
- Sustainable Finance
- Regional Development
Background:
- Green finance (GF) is crucial for environmental protection, climate change mitigation, and resource efficiency.
- Understanding the development and regional disparities of GF is vital for sustainable economic strategies in China.
Purpose of the Study:
- To measure the green finance development level (GFDL) across China's provinces from 2010-2020.
- To analyze the regional differences, dynamic evolution, and spatial-temporal convergence of GFDL.
- To identify key trends and disparities in China's green finance landscape.
Main Methods:
- Weighted TOPSIS model for measuring GFDL.
- Dagum's Gini coefficient for regional difference analysis.
- Kernel density estimation, Markov chain, and convergence models for dynamic and spatial analysis.
Main Results:
- GFDL shows an overall upward trend but exhibits significant regional imbalance, with a "high in the southeast, low in the northwest" and "high in the coast, low in the inland" pattern.
- Overall GFDL differences are expanding, primarily due to inter-regional disparities. Eastern and western regions show widening absolute differences, while the central region shows a narrowing trend.
- No significant sigma convergence in GFDL for the overall country, eastern, or western regions; however, the central region shows clear sigma convergence. Absolute and conditional beta convergence are evident across China and its major regions.
Conclusions:
- China's green finance development is progressing but unevenly distributed, necessitating targeted policies to address regional gaps.
- Inter-regional disparities are the main driver of widening GFDL differences, highlighting the need for coordinated regional strategies.
- While convergence trends vary, the presence of beta convergence suggests that green finance may eventually spread more evenly with appropriate policy interventions.
Keywords:
Comprehensive evaluationDynamic evolutionGreen financeRegional differencesSpatial–temporal convergenceMore Related Videos
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