Xu Tao, Yang Guodong, Chen Tingqiang
School of Economics and Management, Nanjing Tech University, 211816, Nanjing, Jiangsu Province, China; Institute of Emergency Management and Policy, Nanjing Tech University, 211816, Nanjing, Jiangsu Province, China.
School of Economics and Management, Nanjing Tech University, 211816, Nanjing, Jiangsu Province, China.
J Environ Manage. 2024 Nov;370:122892. doi: 10.1016/j.jenvman.2024.122892. Epub 2024 Oct 23.
Environmental pollution coupled with high economic growth poses a significant challenge for developing countries. Achieving sustainable economic development is a crucial issue that these countries must confront. In this paper, the promoting mechanism of green finance (GF) and digital inclusive finance (DIF) on economic sustainable development (ESD) is investigated. We develop the Economic Sustainable Development Index (ESDI), the Green Finance Development Index (GFDI), and the New Quality Productivity Index (NQPI) to evaluate economic sustainability, green finance advancement, and new quality productivity (NQP), respectively. Utilizing comprehensive panel data encompassing 13 prefecture-level cities in Jiangsu province from 2013 to 2022, we examine how GF and DIF foster sustainable economic development in Jiangsu through NQP. Empirical results show that GF, DIF, and ESD in Jiangsu are increasing, with southern Jiangsu leading the way. Moreover, the growth of GF and DIF positively impacts ESD. Furthermore, NQP serves as a pivotal mediator in the relationship between GF and DIF and their influence on ESD. Consequently, there is a need for the government and financial sectors to further enhance green finance policies, digital infrastructure, the dissemination of GF and DIF, and funding to nurture new quality productivity.
环境污染与高经济增长并存给发展中国家带来了重大挑战。实现可持续经济发展是这些国家必须面对的关键问题。本文研究了绿色金融（GF）和数字普惠金融（DIF）对经济可持续发展（ESD）的促进机制。我们构建了经济可持续发展指数（ESDI）、绿色金融发展指数（GFDI）和新质量生产率指数（NQPI），分别用于评估经济可持续性、绿色金融发展水平和新质量生产率（NQP）。利用2013年至2022年江苏省13个地级市的综合面板数据，我们考察了绿色金融和数字普惠金融如何通过新质量生产率促进江苏的可持续经济发展。实证结果表明，江苏的绿色金融、数字普惠金融和经济可持续发展水平均在上升，苏南地区领先。此外，绿色金融和数字普惠金融的增长对经济可持续发展产生了积极影响。此外，新质量生产率在绿色金融和数字普惠金融与它们对经济可持续发展的影响之间起着关键的中介作用。因此，政府和金融部门需要进一步加强绿色金融政策、数字基础设施建设、绿色金融和数字普惠金融的推广以及资金投入，以培育新质量生产率。
