The problem of environmental pollution caused by massive CO2 emissions is becoming increasingly serious. As an environment-friendly
financial service, digital finance is conducive to the development of a
low-carbon economy. Based on the panel data of 287 cities in China from 2011 to
2019, this paper uses a two-way fixed-effect model and an intermediary model to
study the impact of digital finance on carbon emissions. The empirical analysis
results show that: in the whole of China, digital finance has an obvious effect
on reducing carbon dioxide emission intensity; the impact of digital finance on
carbon emission intensity has regional heterogeneity, and the development of
digital finance in eastern China can play a significant role in reducing carbon
dioxide emissions. The impact of digital finance on carbon emission intensity
is dimensionally heterogeneous, and the development of the usage depth of
digital finance and the digitization level can reduce carbon emission
intensity; technological progress plays a partial intermediary role in the
process of digital finance affecting carbon emissions. Digital finance can
drive low-carbon development by promoting the optimization and upgrading of
technology. Based on the above conclusions, this paper puts forward
corresponding suggestions for the development of China’s green and low-carbon
economy.
References
[1]
Chen, Y., Lu, J., & Yu, P. (2019). Has Technological Innovation Reduced Environmental Pollution?—Empirical Evidence from 285 Cities in China. Journal of Xi’an Jiaotong University (Social Sciences), 39, 73-84.
[2]
Deng, R. R., & Zhang, A. X. (2022). Research on the Impact and Mechanism of China’s Urban Digital Economy Development on Environmental Pollution. South China Journal of Economics, 40, 18-37.
[3]
Ehrlich, P. R., & Holdren, J. P. (1971). Impact of Population Growth. Science (New York, N.Y.), 171, 1212-1217. https://doi.org/10.1126/science.171.3977.1212
[4]
Fan, X., & Yin, Q. S. (2021). Does Digital Finance Improve Green Total Factor Productivity? Journal of Shanxi University, Philosophy and Social Science Edition, 44, 109-119.
[5]
Gomber, P., Koch, J.-A., & Siering, M. (2017). Digital Finance and FinTech: Current Research and Future Research Directions. Journal of Business Economics, 8, 537-580.
[6]
Grossman, G.-M., & Krueger, A.-B. (1992). Environmental Impacts of a North American Free Trade Agreement. CEPR Discussion Papers, 8, 223-250. https://doi.org/10.3386/w3914
[7]
Guo, F., Wang, J. Y., Wang, F., et al. (2020). Measuring the Development of Digital Financial Inclusion in China: Index Compilation and Spatial Characteristics. China Economic Quarterly, 19, 1401-1418.
[8]
Huang, Y. P., & Huang, Z. (2018). China’s Digital Finance Development: Present and Future . China Economic Quarterly, 17, 1489-1502.
[9]
Hui, X. B. (2021). Digital Inclusive Finance and Urban Green Total Factor Productivity: Internal Mechanism and Empirical Evidence. South China Finance, 43, 20-31.
[10]
Liang, Q., Xiao, S. P., & Li, M. X. (2021). Has the Development of Digital Economy Improved Urban Ecological Efficiency?—Based on the Perspective of Industrial Structure Upgrading. Inquiry into Economic Issues, 42, 82-92.
[11]
Liu, D. L., & Zhou, J. Q. (2015). Technological Progress, Industrial Structure Change and China’s Carbon Dioxide Emissions: An Empirical Analysis Based on Interprovincial Panel Data. Science and Technology Management Research, 35, 230-237.
[12]
Ren, X. S., Liu, Y. J., & Zhao, G. H. (2020). The Impact of Economic Agglomeration on Carbon Emission Intensity and Its Transmission Mechanism. China Population, Resources and Environment, 30, 95-106.
[13]
Schueffel, P.-M. (2016). Taming the Beast: A Scientific Definition of Fintech. SSRN Electronic Journal, 4, 32-54. https://doi.org/10.2139/ssrn.3097312
[14]
Tang, S., Wu, X. C., & Zhu, J. (2020). Digital Finance and Enterprise Technological Innovation: Structural Characteristics, Mechanism Identification and Effect Differences under Financial Supervision. Management World, 36, 52-66.
[15]
Wen, Z. L., & Ye, B. J. (2014). Mediating Effect Analysis: Method and Model Development. Advances in Psychological Science, 22, 731-745. https://doi.org/10.3724/SP.J.1042.2014.00731
[16]
Xie, X. L., Shen, Y., Zhang, H. X., et al. (2018). Can Digital Finance Promote Entrepreneurship?—Evidence from China . China Economic Quarterly, 17, 1557-1580.
[17]
Xu, W. X., Zhou, J. P., & Liu, C. J. (2022). The Spatial Effect of Digital Economy Development on Urban Carbon Emissions. Geographical Research, 41, 111-129.
[18]
Xu, Z., Gao, Y., & Huo, Z. F. (2021). The Pollution Reduction Effect of Digital Finance. Finance & Economics, 45, 28-39.
[19]
Zhao, J., Liu, C. Y., & Li, C. (2020). The Impact of Financial Development on Carbon Emissions: “Promoting Effect” or “Inhibiting Effect”?—A Mediating Effect Model Based on Heterogeneity of Technological Progress. Journal of Xinjiang University (Philosophy, Humanities & Social Sciences), 48, 1-10.
