An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect

Sun, Yu; Sun, Huaping; Ma, Zhiqiang; Li, Mingxing; Wang, Dan

doi:10.3390/en15030952

Open AccessArticle

An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect

by

Yu Sun

¹,

Huaping Sun

^2,3,*

,

Zhiqiang Ma

¹,

Mingxing Li

¹ and

Dan Wang

⁴

¹

School of Management, Jiangsu University, Zhenjiang 212013, China

²

School of Finance and Economics, Jiangsu University, Zhenjiang 212013, China

³

School of Economics and Management, Hebei University of Technology, Tianjin 300401, China

⁴

School of Finance and Economics, Zhenjiang College, Zhenjiang 212028, China

^*

Author to whom correspondence should be addressed.

Energies 2022, 15(3), 952; https://doi.org/10.3390/en15030952

Submission received: 27 December 2021 / Revised: 21 January 2022 / Accepted: 24 January 2022 / Published: 28 January 2022

(This article belongs to the Special Issue Green Finance and Energy Efficiency Investment in Achieving Carbon Neutrality)

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Abstract

In this paper, the panel data of 30 provinces in China from 2011 to 2019 are analyzed by the spatial measure model and the threshold regression model. The results show that the air quality level is positively correlated with green finance, but there is no spatial effect. The spatial effect of the three influencing factors, including the degree of openness, the level of infrastructure, and the level of education, is the crowding-out effect. At the same time, variables such as human resource level, air quality, and infrastructure construction level all have threshold effects in the relationship between green finance and economic development. The research conclusions suggested that local governments at all levels should formulate policies according to the actual situation to promote the development of provinces’ intensive, intelligent, and green development, and build a regionally-linked green finance development model, thereby promoting the improvement of green finance.

Keywords: green finance; spatial Dubin model; influencing factors; threshold effect

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MDPI and ACS Style

Sun, Y.; Sun, H.; Ma, Z.; Li, M.; Wang, D. An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect. Energies 2022, 15, 952. https://doi.org/10.3390/en15030952

AMA Style

Sun Y, Sun H, Ma Z, Li M, Wang D. An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect. Energies. 2022; 15(3):952. https://doi.org/10.3390/en15030952

Chicago/Turabian Style

Sun, Yu, Huaping Sun, Zhiqiang Ma, Mingxing Li, and Dan Wang. 2022. "An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect" Energies 15, no. 3: 952. https://doi.org/10.3390/en15030952

APA Style

Sun, Y., Sun, H., Ma, Z., Li, M., & Wang, D. (2022). An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect. Energies, 15(3), 952. https://doi.org/10.3390/en15030952

Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. See further details here.

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An Empirical Test of Low-Carbon and Sustainable Financing’s Spatial Spillover Effect

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