Abstract
Green finance (GF) regards social responsibility and environmental protection interests as the core of development and has become a new growth point and a new engine for promoting the development of the green economy (GE). To more accurately grasp the coordination between GF and the GE, the selection of appropriate indicators and feasible methods is worth exploring. Aiming at sustainable development by evaluating the coupling coordination between GF and the GE by means of a comprehensive index system and an integrated approach, this study establishes a coupling coordination degree model based on panel data of 30 Chinese provinces over the period 2007–2016. Furthermore, it evaluates the spatial distribution difference and dynamic evolution trend of the coordination by introducing global/local spatial autocorrelation, a space Markov chain, and a local indicators of spatial association (LISA) Markov chain. According to the research results, the coupling coordination degrees of the provinces exhibit gradual upward trends, and most regions in China are in a barely coordinated state at present. The coordination degree of GF and the GE shows strong spatial dependence overall, and partially presents the characteristics of “high-high (HH)” and “low-low (LL)” clustering patterns. The forecast results show that the future coordination of GF and the GE will remain stable and be affected by the coordinated development of surrounding areas.
Highlights
Environmental problems such as ecological imbalance, resource exhaustion, and environmental pollution have become global economic and political problems because they are closely related to social development and human survival [1,2]
It can be concluded that environmental state and response play a more significant role in determining green economy (GE) development and deserve stronger protection in future attempts to realize a sustainable economy
This paper aimed at investigating the coupling coordination between the Chinese green finance (GF) and GE systems
Summary
Environmental problems such as ecological imbalance, resource exhaustion, and environmental pollution have become global economic and political problems because they are closely related to social development and human survival [1,2]. The efficient green economy (GE), which boasts low energy consumption, low pollution, and low emissions, has become a necessary choice and direction for China’s economic advancement and a channel to help developing countries achieve sustainable development [3]. The development of the GE is inseparable from the support of green finance (GF). On the basis of traditional finance, GF regards social responsibility and environmental protection interests as the core of development, and has become a new growth point and a new engine for promoting the development of the GE [4,5,6]. The balance of the green credit of 21 major domestic banks reached ¥8.22 trillion by the end of June 2017
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