How does an innovative decision-making scheme affect the high-quality economic development driven by green finance and higher education?

Abstract

This research examines the various elements that contribute to the achievement of high-quality economic development (HQED) in China. Specifically, it explores the influence of several major indices, such as the Green Finance Index, Energy Development Index, Higher Education, Technology Market Environment, and Human Capital. In this study, we utilize a Spatial Durbin Model to examine the interdependencies and spatial linkages between various variables, and their combined impact on China's efforts towards achieving HQED. The Green Finance Index serves as an indicator of a nation's dedication to the implementation of financially sustainable practices and investments that align with environmental objectives. The Energy Development Index assesses the extent to which the energy sector contributes to both economic growth and sustainability. The significance of education and skill development in promoting economic advancement is underscored by Higher Education and Human Capital measures. The Technology Market Environment Index examines the impact of the innovation ecosystem on fostering economic growth. The empirical analysis in our study utilizes extensive data sets collected from 30 provinces and regions throughout China. In this study, we analyze the spatial and temporal interactions of the indices, considering the potential spillover effects from adjacent locations. The findings offer significant contributions to understanding the intricate interconnections among green financing, energy development, education, technology, and human capital, and their combined influence on China's continuous endeavor towards achieving high-quality economic growth. Comprehending the intricate interconnections and spatial dynamics holds paramount importance for policymakers and stakeholders who aspire to foster sustainable, inclusive, and ecologically conscientious economic development in China. The results obtained from this study possess the potential to provide valuable insights for evidence-based policy decisions and strategies aimed at promoting the nation's pursuit of HQED objectives.