Abstract
This paper uses the panel data of 29 prefecture-level cities in China from 2013 to 2020 to establish a fixed effect model to study the impact of carbon finance development level on urban low-carbon transformation. The results show that: (1) Overall, the development of carbon finance will significantly promote the low-carbon transformation of Chinese cities; (2) the impact of carbon finance development on urban low-carbon transformation has regional heterogeneity, with the greatest impact on the eastern region, followed by the central region, and the impact on the western region is reversed.
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