The mechanism of China's green financial policy on renewable energy industry
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In this paper, we propose the mechanism of China's green financial policy on renewable energy industry development implemented in different pilot zones. By utilizing the synthetic control method, this paper examines the differences in the effect of green financial policy before and after its implementation. The results demonstrate that green financial policy can significantly reduce traditional energy consumption while promote the renewable energy industry development simultaneously. Furthermore, the effects across different regions reveal that the impacts of green financial policy are pronounced in selected pilot zones, with Shanghai and Chongqing standing out the most while Gansu province performs the worst. The analysis also figure out that green financial policy stimulates the expansion of regional financing scales, resource endowment, and technological innovation as well.
Abstract
In this paper, we propose the mechanism of China's green financial policy on renewable energy industry development implemented in different pilot zones. By utilizing the synthetic control method, this paper examines the differences in the effect of green financial policy before and after its implementation. The results demonstrate that green financial policy can significantly reduce traditional energy consumption while promote the renewable energy industry development simultaneously. Furthermore, the effects across different regions reveal that the impacts of green financial policy are pronounced in selected pilot zones, with Shanghai and Chongqing standing out the most while Gansu province performs the worst. The analysis also figure out that green financial policy stimulates the expansion of regional financing scales, resource endowment, and technological innovation as well.
참고문헌 (18)
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