Advances in Economics, Management and Political Sciences

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Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅰ

Series Vol. 3 , 21 March 2023


Open Access | Article

The Governance Effect of China's Green Finance Policy from an International Perspective

Yuan Liu * 1
1 School of Labor and Human Resources, Renmin University of China, Beijing 100872, China

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 3, 174-181
Published 21 March 2023. © 21 March 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yuan Liu. The Governance Effect of China's Green Finance Policy from an International Perspective. AEMPS (2023) Vol. 3: 174-181. DOI: 10.54254/2754-1169/3/20220781.

Abstract

Most of the previous studies on the utility of green financial policies have focused on provincial data, exploring the differences between different provinces at the same time; few have focused on China as the main body, focusing on the positive effects of national-level green financial policies on the rapid development of the economy and society effect. Based on the macro data of 43 countries, this paper uses the SBM model of undesired output to measure the main characteristics of social and economic development. It estimates the net effect of China's green financial policy through the non-parametric synthetic control method. The study found that China's green financial policy has a significant positive effect on the improvement of factor productivity. Further exploration of the predictor variables shows that China's industrial structure and technical level are relatively low, and the use efficiency of green financial funds and government green finance need to be optimized.

Keywords

green finance policy, international comparison, factor productivity, nonparametric synthetic control method

References

1. Salazar J.(1998).Environmental Finance: Linking Two World. Presented at a Workshop on Financial Innovations for Biodiversity Bratislava,pp.2-18.

2. Cowan E.(1999).Topical Issues In Environmental Finance. Research Paper Was Commissioned by the Asia Branch of the Canadian International Development Agency,pp.1-20.[]

3. Graedel T E, Allenby B R.(2004).Industrial Ecology.Beijing:Tsinghua University Press.

4. Goldsmith R.(1969).Financial Structure and Economic Development.New Haven: Yale University Press

5. McKinnon R I.(1973).Money and Capital in Economic Development.Washington: Brookings Institution Press.

6. Lin,X.(2011).The Development of Green Finance in China under the Background of Low Carbon.Guangzhou:School of Economics, Jinan University.

7. Xie,X S. Yan,S P.(2021)The Spacial Spillover Effect and Path Mechanism of Green Finance Driving High-quality Economic Development,pp.22-34.

8. Cerulli, G. (2019). A flexible synthetic control method for modeling policy evaluation. Economics Letters, 182.

9. Hall, P., Racine, J., & Li, Q. (2004). Cross-validation and the estimation of conditional probability densities. Journal of the American Statistical Association, 99(468), pp.1015-1026.

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅰ
ISBN (Print)
978-1-915371-15-7
ISBN (Online)
978-1-915371-16-4
Published Date
21 March 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/3/20220781
Copyright
21 March 2023
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated