The Impact of Green Finance Development on Industrial Structure Upgrading—— Evidence from 244 Prefecture-Level Cities in China
DOI:
https://doi.org/10.54097/1vzkcz73Keywords:
Green Finance Development, Industrial Structure Upgrading, Prefecture-Level Cities, China.Abstract
In the alteration of China's industrial structure, it is crucial to promote the green upgrading of traditional industries and the cultivation of new green industries. Therefore, on the basis of panel data from 244 prefecture-level cities in China from 2016 to 2023, The effect of green finance development on industrial structure upgrading is empirically analyzed in this paper using a two-way fixed effects model (TFE). The results indicates that green financial development significantly promotes industrial structure upgrading. Heterogeneity analysis shows that the promoting effect is more pronounced in underdeveloped regions and eastern regions. The innovative points of this paper lie in breaking through the traditional perspective of financial development, focusing on the impact of green finance development instead of finance development on industrial structure upgrading, and creatively employing prefecture-level city data for research. This study provides important references for formulating green financial development plans scientifically, clarifying its development direction, and boosting the systematic upgrading of the industrial structure in an orderly manner.
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