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Environmental science and pollution research international
Jun, 2023;30 (26): 68667-68676.

Has pilot zones policy for green finance reform and innovations improved the level of green financial development and environmental quality?

Guozhu Li, Liqi Wang, Zining Li, Zhengran Guo
Author Information
  1. Guozhu Li: School of Economics, Natural Resources and Capital Research Center of Hebei GEO University, Hebei Province, Shijiazhuang City, 050031, China.
  2. Liqi Wang: School of Economics, Natural Resources and Capital Research Center of Hebei GEO University, Hebei Province, Shijiazhuang City, 050031, China. wangliqi_wlq@163.com. ORCID
  3. Zining Li: School of Science, Hebei University of Technology, Tianjin City, Tianjin, 300401, China.
  4. Zhengran Guo: School of Economics, Natural Resources and Capital Research Center of Hebei GEO University, Hebei Province, Shijiazhuang City, 050031, China.
PMID: 37126176 DOI: 10.1007/s11356-023-27243-3

Abstract

This study uses the green finance reform and innovation pilot zone policy approved by the State Council in 2017 as a quasi-natural experiment to explore whether the implementation of the policy has improved the level of green finance development and environmental quality in Chinese cities at the prefecture level and above. The results show that the green financial reform and innovation pilot zone policy can significantly improve the level of regional green financial development and environmental quality, and the results are robust. Further heterogeneity analysis finds that the green financial reform and innovation pilot zone policy have heterogeneous effects on the level of green financial development and environmental quality in different regions, sizes, environmental regulation intensity, financial development levels, and cities of different administrative levels. Based on this conclusion, suggestions are made that the scope should be further expanded and green finance policies should be formulated differently.

Keywords

Environmental quality Green financial development level Green financial reform and innovation pilot zone

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Grants

  1. No.18BJY081/National Social Science Fund of China

MeSH Term

China
Cities
Economic Development
Environmental Policy
Fiscal Policy
Policy
Journal Article

Word Cloud

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