Research on the Impact of Economic Financialization on Pollution Reduction – Analysis Based on Panel Data of 285 Prefecture-level Cities

Authors

  • Shiyin Li School of Engineering Management, Hunan University of Finance and Economics, Changsha 410205, China
  • Rizhao Gong School of Business, Hunan University of Science and Technology, Xiangtan 411201, China

DOI:

https://doi.org/10.13052/spee1048-5236.4211

Keywords:

Economic financialization, pollution reduction, innovation driven, prefecture-level city

Abstract

As the core content of green China construction, pollution reduction plays an important role in achieving high-quality development. This paper mainly explores the pollution reduction effect of finance in the process of increasing the status of the national economic system, and verifies the indirect role of innovation-driven development in the relationship between economic financialization and pollution reduction. The results show that economic financialization has a significant direct impact on the emission reduction of industrial wastewater and sulfur dioxide, especially in cities with a high degree of financialization. Subsequently, the sample data transformation and the robustness test of green credit policy further support the above conclusions. At the same time, urban innovation capacity has a partial indirect effect on the pollution reduction of economic financialization, while robot use only has an indirect effect on the sulfur dioxide reduction of economic financialization. This study provides a theoretical basis for promoting wider and deeper development of green finance.

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Author Biographies

Shiyin Li, School of Engineering Management, Hunan University of Finance and Economics, Changsha 410205, China

Shiyin Li is a lecturer, Her main research directions are environmental economy, urban innovation. Many articles have been published in related fields.

Rizhao Gong, School of Business, Hunan University of Science and Technology, Xiangtan 411201, China

Gong Rizhao is a professor, His main research direction is economic statistics and decision-making. Years of working experience in digital economic statistics.

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Published

2022-12-28

How to Cite

Li, S. ., & Gong, R. . (2022). Research on the Impact of Economic Financialization on Pollution Reduction – Analysis Based on Panel Data of 285 Prefecture-level Cities. Strategic Planning for Energy and the Environment, 42(01), 1–20. https://doi.org/10.13052/spee1048-5236.4211

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Articles