Green Development Efficiency Research Articles

Green finance development and resource efficiency: A financial structure perspective

Resource utilisation efficiency promotion is a crucial focus of green economic recovery, and the development of green finance could ease the liquidity constraints of this process. This paper examines the nexus between green finance and resource utilisation efficiency from a financial structure perspective using panel data from 2008 to 2021. Our findings indicate that the size of green finance could improve resource utilisation efficiency through green technology developments. Regarding green financial structure, direct finance plays a greater role than indirect finance. Additionally, the implementation of green finance policies can significantly facilitate the enhancement of resource utilisation efficiency. For policymakers, accelerating the development of green finance through fiscal measures should be prioritized. Meanwhile, optimising green financial structures through building a market-based green financial system is necessary. Finally, ensuring that green funds flow into the development of green technology should also be considered.

Green and Low-Carbon Efficiency Assessment of Urban Agglomeration Logistics Industry: Evidence from China’s Beijing-Tianjin-Hebei Metropolitan Area (2008–2020)

With the advent of the post-industrial era, the rapid development of e-commerce has propelled the logistics industry to become the lifeline of the national economy, supporting the orderly flow of resource elements between cities. However, the concerning issues of excessive energy consumption and low logistics efficiency in the transportation process have come to the forefront. The introduction of China’s dual-carbon policy goals indicates that enhancing regional logistics’ green and low-carbon efficiency is key to solving the global logistic sustainability problem. Nowadays, the logistics sector’s efficiency in producing green and low-carbon emissions has been quantified using an input-output measurement index. Using data from 2008 to 2020 from the dynamic panel of the logistics sector in the urban agglomerations of Beijing, Tianjin, and Hebei, the three-stage SBM-DEA and Malmquist index quantitative evaluation models are selected to estimate the logistic green and low-carbon development efficiency comprehensively. The analysis discovered that green and low-carbon logistics in the Beijing-Tianjin-Hebei metropolitan agglomeration are relatively efficient overall, and the urban siphon effect of Beijing and Tianjin is noticeable. Once the impact of environmental variables and random errors is eliminated, it becomes evident that these factors tend to inflate the overall technical efficiency. Technical efficiency levels are the primary factor leading to regional logistics inefficiencies. Additionally, it is essential to note that scale efficiency positively affects urban development, leading to a rebound effect, summarizing the existing problems combined with the visualization map, and putting forward corresponding policy suggestions, which is of great practical significance.

Exploring the role of resource industry dependence and green finance in green development efficiency in the context of post-Covid-19 period

After the Covid-19 pandemic, the best chance for recovery is to prioritize clean, zero-carbon energy and achieve green development efficiency gains. The research selects the super-efficient SBM model to measure the green development efficiency (GDE) of 30 regions in China, and on this basis, explores resource industry dependence and green finance impact on GDE, conclusions as follows: (1) GDE as a whole shows a steady upward trend, and regional GDE shows a trend of first a small decline and then an increase; the value of eastern part is highest. (2) In any case, resource industry dependence primary term is always negative, which proves that there is indeed a “resource curse” phenomenon in GDE. The positive but insignificant coefficient of the quadratic term of resource industry dependence does not prove that there is a conditional “resource curse” between resource industry dependence and GDE. Green finance can promote GDE in China; it enhances GDE by allocating green credit funds, supporting environmental protection projects, and improving technology and optimizing industrial structure. (3) Environmental regulation and urbanization affect GDE shows non-linear relationship, and FDI improves GDE confirms that the pollution heaven hypothesis is not valid. The rationalization of industrial structure inhibits GDE. The research in this paper can provide a theoretical reference for regional policy choices and has important practical significance for regions to achieve sustainable development goals.

Great transition and new pattern: Agriculture and rural area green development and its coordinated relationship with economic growth in China

Agricultural and Rural Green Development (ARGD) and economic growth are major challenges prevalent in China, but also in other developing countries. A notable gap in current literature lies in the limited holistic approach to agriculture and rural areas, with scant attention being paid to the spatiotemporal evolution of ARGD and its coordination relationship with economic growth. This paper first offers a theoretical analysis of the interactive relationship between ARGD and economic growth and subsequently examines the policy implementation process in China in this regard. It observes 31 provinces in China from 1997 to 2020 to uncover the spatiotemporal evolution of Agricultural and Rural Green Development Efficiency (ARGDE). Using the coupling coordination degree (CCD) model and the local spatial autocorrelation model, this paper analyses the coordination relationship and spatial correlation between ARGDE and economic growth. The results show that ARGDE in China exhibited a phased growth trend and was greatly affected by policies during 1997–2020. The interregional ARGD produced a hierarchical effect. However, provinces with a higher ARGDE did not necessarily exhibit faster growth, leading to a differential pattern of optimization that involved continuous optimization, phased optimization, and continuous deterioration. Over a long period, ARGDE exhibited a trend of significant upward leaps or jumps. Finally, the CCD between ARGDE and economic growth improved, with a clear trend of high-high agglomeration characteristics that shifted from the eastern and northeastern provinces to the central and western ones. This suggests that promoting “quality agriculture” and “green agriculture” can have practical significance in accelerating the development of ARGD. In the future, it is vital to promote ARGD’s transformation while mitigating the risk of degrading the coordinated relationship between ARGD and economic growth.

Towards sustainability: the impact of industrial synergistic agglomeration on the efficiency of regional green development.

Guided by the concept related to sustainable development, we investigate the effects related to the synergistic agglomeration development of productive service and manufacturing industries on regional green development, which is also an important path for promoting the global sustainable development process and achieving carbon neutrality goals. Using the panel data of 285 prefecture-level cities in China from 2011 to 2020 as the basis of our study, we focus on the impact of industrial synergistic agglomeration on the efficiency of regional green development and the mediating influence of technological innovation. Results show that (1) industrial synergistic agglomeration positively contributes to the improvement of regional green development efficiency level and is significantly positive at the 5% level, (2) technological innovation plays a mediating role in the process of promoting regional green development efficiency through industrial synergistic agglomeration and can better realise the green development effect of industrial synergistic agglomeration, (3) results of the threshold effect test show the nonlinear effect of industrial synergistic agglomeration on regional green development efficiency with a single threshold value of 3.2397, and (4) the effect of industrial synergistic agglomeration on regional green development efficiency shows significant variability under different geographical locations, city scales, and resource endowment conditions. On the basis of these findings, we propose corresponding policy recommendations for improving the quality of inter-regional industrial synergistic agglomeration and formulating differentiated policy guidelines to help regions achieve long-term sustainable development.

The Impact of Digital Transformation on Corporate ESG Performance: Empirical Evidence from Chinese Listed Companies

This study uses information from listed firms on China's Shanghai and Shenzhen A-share markets to analyze how the digital transformation has impacted corporate Environmental, Social, and Governance (ESG) performance between 2010 and 2020. The empirical results demonstrate that the influence of digital transformation on ESG performance is only marginally favorable. Important processes including green technology development, information transparency, decision-making, and operational efficiency all contribute to a company's ESG performance through digital transformation. According to the study's findings, non-state-owned enterprises, younger corporations, and larger companies are more likely to have positive benefits of digital transformation on ESG performance. These findings have practical implications for organizations and decision-makers seeking to enhance ESG performance through digital transformation.

Study on the Efficiency Assessment of Green Economy Development and Carbon Emission Reduction Paths in the Yangtze River Delta Region under the "Double Carbon" Target

In the context of upgrading the "double carbon" target to a long-term national strategy, the development of a green economy is an inevitable trend for high-quality social development. As the Yangtze River Delta occupies an important position in China's economic and ecological development, assessing the efficiency of green economy development and optimizing carbon emission pathways in this region can not only promote the development of the region but also serve as a model to promote the high-quality economic development and ecological civilization construction of the whole country. Based on the above background, this project takes the green economy of each prefecture-level city in the Yangtze River Delta region as the research object takes the relationship between carbon emissions and economic growth, the assessment of green economy development efficiency and carbon emission management as the research perspective, relies on theories of sustainable development, low-carbon economy, and externality, and draws on the practice of green economy development in foreign countries, to achieve the emission reduction commitments set by the Chinese government, mitigate global The study will provide reasonable and efficient policy recommendations for achieving the Chinese government's stated commitments to reduce emissions, mitigate global climate change, and achieve high-quality economic development and the 2035 vision.

Environmental regulation, industrial agglomeration, and marine green development efficiency: an empirical analysis from China's coastal provinces.

Environmental regulation (ER) and industrial agglomeration (IA) are important factors that affect green development efficiency (GDE). However, there is a lack of studies on their relation in the context of the marine economy. This paper integrates ER, IA, and marine GDE (MGDE) into a unified analytical framework and uses balanced panel data from China's 11 coastal provinces during 2008-2019 to quantify the linear, nonlinear, and spatial spillover effects between the three using the spatial Durbin model (SDM) and threshold effect model. The results show that ER has a negative impact on local and surrounding MGDE through the direct and spatial spillover effects. IA has a positive impact on local and surrounding MGDE through direct and spatial spillover effects. The synergistic impact of ER and IA can significantly boost local and surrounding MGDE. When ER surpasses a certain threshold, it amplifies the positive impact of IA on MGDE. These findings offer theoretical and practical references for the Chinese government to formulate marine environmental governance and industrial development policies.

Spatial and Heterogeneity Analysis of Environmental Taxes’ Impact on China’s Green Economy Development: A Sustainable Development Perspective

Environmental taxation is an important tool used by governments to promote resource conservation and environmental protection. Given the current global constraints on resources and increasing environmental degradation, exploring how environmental taxes can effectively stimulate the development of a green economy is of utmost importance. This study utilized panel data from 30 provinces, autonomous regions, and municipalities in China, covering the period from 2006 to 2020. The research findings indicate a spatial correlation between environmental taxes and green economic efficiency in China, with the former significantly promoting the development of the latter. A heterogeneity analysis revealed varying impacts of different taxes on the efficiency of green economic development in different regions. Controlling for variables, the study results demonstrated a negative correlation between industrial structure and green economic efficiency, with a significance level of 1%. Additionally, no correlation was found between pollution control efforts and green economic benefits. The effects of different taxes on regional efficiency varied, and industrial structure exhibited a negative correlation with green economic efficiency. This study recommends strengthening intergovernmental coordination, improving tax policies, optimizing industrial structure, and enhancing the pollution control efficiency of local governments to promote China’s green economy.

Local government competition, environmental regulation, and green development in China: Empirical analysis based on regional heterogeneity and path mechanisms

AbstractUsing China's interprovincial panel data from 2007 to 2019, this paper empirically investigates the relationship between environmental regulation and green development efficiency (GDE) by examining the local governments competition behavior. The main instruments of local government competition, involving taxation, government spending and attracting investment, are considered as well as the institutional context. Following the “performance‐output‐performance” to clarify the role of local government competition and environmental regulation on GDE, it is found that fiscal spending competition increases GDE, while tax and capital attraction competition play the opposite role; performance promoted inter‐governmental competition makes local governments' strategic choices between economic catch‐up and environmental protection volatile, and this volatility brings about fluctuations and losses in GDE. The study by regions finds that government competition and environmental regulation have a greater impact on GDE in the eastern and developed regions, while the impact on other regions is relatively small. Further, the mechanism setting and institutional improvement of environmental governance achieved significant results after 2013, but the function of local government competition mechanisms in improving environmental quality has not yet emerged in China. The findings based on the heterogeneity of regional economic development and path mechanisms provide a reference for social planners to carry out top‐level design in taxation, fiscal spending, and investment attraction, as well as to formulate differentiated regional environmental regulation policies.

Role of green finance and regional environmental efficiency in China

High-quality green finance development and environmental efficiency are made possible through economic growth. This study examines the factors affecting investments in green finance and regional environmental efficiency in China from 2008 to 2020, using the GMM model. Results show that green financing positively impacts energy usage restructuring at the national level. However, the impact is limited, despite positive coefficients between financial growth, energy prices, and energy usage patterns. In the central area, green financial development benefits energy usage structure, while in the eastern region, economic and industrial development have little effect. The study provides strategic recommendations for China's green funding to support the adaptation of energy use structures.

How will industrial collaborative agglomeration affect the efficiency of regional green development?

The integrated development of various industries in China is essential for promoting long-term sustainable development and achieving carbon neutrality. In this study, we analyze panel data from 30 Chinese provinces (excluding Tibet, Hong Kong, Macao, and Taiwan) covering the period between 2005 and 2020 to investigate the impact of collaborative agglomeration between productive service and manufacturing industries on green development efficiency. We utilize a mediation effect model to examine the role of technological innovation in driving the relationship between industrial collaborative agglomeration and regional green development efficiency. Our findings reveal that the collaborative agglomeration of the productive service and manufacturing industries has a significant positive effect on improving regional green development efficiency. We also identify a non-linear relationship, indicating a double threshold effect. Technological innovation plays an important role in facilitating industrial collaborative agglomeration and promoting the efficiency of regional green development. Moreover, our results demonstrate significant regional heterogeneity in the impact of industrial collaborative agglomeration on regional green development efficiency. Based on these findings, we propose several policy recommendations to achieve high-quality regional economic development, including improving the quality of industrial synergy and agglomeration between regions, strengthening the intermediary promotion role of technological innovation, and enhancing regional green productivity.

The Impact of Manufacturing Intelligence on Green Development Efficiency: A Study Based on Chinese Data

This study used provincial panel data from 2011 to 2020 to empirically analyze the impact of improvements in the manufacturing intelligence level on the efficiency of green development. The results show the following: improvements in manufacturing intelligence significantly increased the efficiency of green development. Following the “Guidelines for the Construction of the National Intelligent Manufacturing Standard System” proposed by China as a quasi-natural experiment, the double-difference method was used to prove the following: the promotional effect is greater in eastern regions after the policy was implemented. An improvement in manufacturing intelligence increases green development efficiency by improving the efficiency of technological innovation and energy use. The impact of the manufacturing intelligence level on green development efficiency shows a threshold effect. The promotion effect is more pronounced in regions where the level of technological innovation and the strength of the government’s role cross this threshold. Therefore, the government should vigorously promote the intelligent transformation of the manufacturing industry and improve the efficiency of China’s green development.

Evaluation of green low-carbon innovation development efficiency: An improved two-stage non-cooperative DEA model

Evaluation of green low-carbon innovation development efficiency: An improved two-stage non-cooperative DEA model

An assessment of the green development efficiency of industrial parks in China: Based on non-desired output and non-radial DEA model

Greening the industrial parks is one of China's attempts to explore sustainable development for the industrial sector. The efficiency of green development has come to serve as a criteria index to evaluate the performance of green development for industrial parks. In this paper, a non-desired output and non-radial DEA model was proposed for measuring industrial parks’ green development performance. We use the panel data of 171 green industrial parks certified by China's central government to evaluate the green development efficiency. It shows that the green development efficiency of the industrial parks exhibits significant spatial and temporal heterogeneity. We further decompose the green development efficiency and analyze the input redundancy and output insufficiency. We also choose Suzhou and Yunnan Anning Industrial Park for case studies, in order to explore the measures which can be replicated and promoted, and contribute to the green development of industrial parks in China and other developing countries.

Green financial development efficiency: a catalyst for driving China's green transformation agenda towards sustainable development.

The pursuit of a green transformation agenda in China is an important aspect of achieving sustainable development. The role played by green financial development efficiency (GFDE) in this pursuit cannot be overlooked. This paper explored the impact of GFDE on China's green transformation agenda and its contributions toward sustainable development. The study adopts a systematic approach to examine the relationship between GFDE and green transformation, utilizing relevant data and literature. The study aligns with previous research in the field that highlights the importance of green finance in reducing carbon emissions and promoting sustainable development in China. It also adds to the existing literature by specifically focusing on the role of green financial development efficiency in the pursuit of a green transformation agenda in China. The study found a significant improvement in GFDE over the period of 2010 to 2020 in promoting green transformation in China. Both systems generalized method of moments and fixed-effect models revealed that trade openness, foreign investments, technological innovation, and government budget positively influenced GFDE while energy consumption and economic policy uncertainty had a significant adverse effect on GFDE. The results of this study inform policymakers and stakeholders of the importance of green finance in promoting sustainable development. The study intimated that the financial sector should provide support for green technologies and businesses by offering range of green products such as green bonds, funds, and loans.

Foreign direct investment, environmental regulation and urban green development efficiency—An empirical study from China

ABSTRACT This study investigates the existence of the pollution halo hypothesis in China. To realize the goals, an urban green development efficiency measuring framework was established applying SBM directional distance function and Malmquist-Luenberger index. Using linear panel model and nonlinear panel model and data of 284 cities in China from 2008 to 2019, we have found that the pollution halo hypothesis does exist in China because FDI increases urban green development efficiency. The mechanism analysis of introducing environmental regulation indicates that the impact of FDI on urban green development efficiency presents a ‘U-shaped’ feature. The implementation of strict environmental regulation can significantly increase the positive impact of FDI on the urban green development efficiency. In addition, the analysis of regional heterogeneity has shown that when the environmental regulation intensity exceeds the turning point, FDI in eastern and central China plays a significant positive role in urban green development efficiency, while that in western China is inhibitory effect. Our empirical results have suggested the Chinese government should further utilize the positive role of FDI in urban green development, including gradually and orderly implementing strict environmental protection regulatory policies, and implementing green energy conservation transformation projects for energy intensive industries.

Do Carbon Emission Trading Schemes Promote the Green Transition of Enterprises? Evidence from China

As one of the environmental governance tools used to achieve green and low-carbon development in China, the ability of carbon emission trading schemes (CETS) to promote the green transition of enterprises is key to assessing the effectiveness of their implementation. Therefore, this paper used the panel data of China A-share listed heavy-polluting enterprises from 2010 to 2019, adopted the super-SBM model and GML index to measure the green total factor productivity (GTFP) of enterprises as an indicator of green transition, and further employed a staggered difference-in-difference model (DID) based on propensity score matching (PSM) to investigate the impact and mechanism of CETS on the green transition of enterprises. The results revealed that CETS significantly improved the green development efficiency of heavy-polluting enterprises and promoted green transition. In addition, the promotion was more pronounced among enterprises with weak cost transfer abilities, low levels of financing constraints, and high-quality internal control systems as well as in areas with high environmental enforcement intensity. More importantly, the mechanism analysis showed that heavy-polluting enterprises mainly chose to increase green technological innovation, especially substantive green technological innovation, and accelerated productive capital renewal to achieve their green transition targets. This study provides empirical evidence for improving the construction of the national carbon emission trading market and promoting the green transition and low-carbon development of heavy-polluting enterprises.

How urban development affects green development efficiency in China: Taking the city cluster of Yangtze river economic belt as an example

Introduction: In order to change the long-term economic development model which is at the expense of the environment, China proposed a series of new energy development and environmental intervention policies. However, there is no evidence to support the impact of urban development on the green development efficiency (GDE) under China’s macroeconomic policies at present. In order to answer this research question and help the government to improve the GDE, this study takes the Yangtze River Economic Belt (YREB) city cluster (41 cities) in China as an example to conduct an empirical study.Methods: We first measure the GDE of these cities by Slack Based Model (SBM). Then, the Tobit model is used to measure the impact of urban development elements, namely population urbanization, land urbanization, and urban industrial development, on GDE.Results and Discussion: The analysis of the data leads to the following conclusions and suggestions: 1) The GDE of the city cluster in the YREB has generally been improved driven by policies. But compared to policy interventions, the level of science, technology and management are the primary drivers of long-term improvement in GDE. 2) In order to avoid the economic development and environmental capacity failure to afford the increase in energy consumption and pollution discharge caused by population urbanization and land urbanization, local governments need to promote energy transformation, increase environmental protection efforts and attract top-tier talent. 3) The improvement of GDE by industrial upgrading is a dynamic and slow process, and blindly pushing industrial restructuring will lead to a decline in GDE. Therefore, the Chinese government needs to provide an ecologically suitable environment for local industrial development, which needs to avoid “pulling out the seedlings” and “one-size-fits-all” approach.

Heterogenous Urbanization and Agricultural Green Development Efficiency: Evidence from China

Realizing green development in agriculture is fundamental to sustained economic development. As a measure to facilitate the transfer of rural population, urbanization is considered to be strategic in promoting agricultural green development. This paper employs a SBM-DDF–Luenberger method to measure agricultural green total factor productivity (AGTFP) and the agricultural labor surplus in China, and empirically tests the heterogeneous effects of household registration urbanization, permanent residence urbanization, and employment urbanization on the efficiency of agricultural green development. The results reveal that: (1) the average annual growth rate of China’s AGFTP is 4.4374%, which is achieved mainly through improvements in green scale efficiency. (2) The agricultural sector in China is suffering a large surplus of labor force, with an estimation of 20.64 million in 2020. (3) Both household registration urbanization and permanent residence urbanization have a significant promoting effect on agricultural green development efficiency, though the former promotes less. (4) Employment urbanization improves agricultural green development efficiency by providing employment guidance for migrant workers, and employment urbanization of the tertiary industry has a more pronounced improvement effect. The findings suggest that governments remove restrictions on the household registration system and actively guide surplus agricultural laborers to engage in urban service industries to provide an impetus for promoting green agricultural development.