Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Series Vol. 3 , 21 March 2023
* Author to whom correspondence should be addressed.
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.
green finance policy, international comparison, factor productivity, nonparametric synthetic control method
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.
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).