Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural Experiment
To examine the impact of green finance (GF) on urban land green use efficiency (LGUE), we treat the Green Finance Reform and Innovation Pilot Zone (GFRIPZ) policy, implemented in 2017, as quasi-natural experiment. The results from a multi-period difference-in-difference model show that GF contribute...
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MDPI AG
2025-02-01
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| author | Fen Wang Haikuo Zhang Jingjie Zhou |
| author_facet | Fen Wang Haikuo Zhang Jingjie Zhou |
| author_sort | Fen Wang |
| collection | DOAJ |
| description | To examine the impact of green finance (GF) on urban land green use efficiency (LGUE), we treat the Green Finance Reform and Innovation Pilot Zone (GFRIPZ) policy, implemented in 2017, as quasi-natural experiment. The results from a multi-period difference-in-difference model show that GF contributes to improving urban LGUE. This conclusion is validated further by a generalized random forest model. The mechanism analysis demonstrates that GF enhances LGUE through the effects of green technological innovation, industrial upgrading, and public green behavior. The moderation analysis further reveals that artificial intelligence can amplify the positive impact of GF on LGUE. The heterogeneity results show that the positive relationship between GF and LGUE is more pronounced in midwestern cities, non-resource-based cities, and cities with a high level of financial development. Therefore, it is essential to expand the GF pilot program in a structured manner and establish a coordinated mechanism to promote LGUE improvement through GF in different regions, thereby enhancing financial service efficiency for the real economy. |
| format | Article |
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| institution | OA Journals |
| issn | 2073-445X |
| language | English |
| publishDate | 2025-02-01 |
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| series | Land |
| spelling | doaj-art-706b4dc0c27045309af6dff4d93e646c2025-08-20T02:03:40ZengMDPI AGLand2073-445X2025-02-0114233210.3390/land14020332Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural ExperimentFen Wang0Haikuo Zhang1Jingjie Zhou2College of International Economics and Trade, Ningbo University of Finance and Economics, Ningbo 315175, ChinaCollege of Accounting, Ningbo University of Finance and Economics, Ningbo 315175, ChinaClimate Change and Energy Economics Study Center of Wuhan University, Wuhan 430072, ChinaTo examine the impact of green finance (GF) on urban land green use efficiency (LGUE), we treat the Green Finance Reform and Innovation Pilot Zone (GFRIPZ) policy, implemented in 2017, as quasi-natural experiment. The results from a multi-period difference-in-difference model show that GF contributes to improving urban LGUE. This conclusion is validated further by a generalized random forest model. The mechanism analysis demonstrates that GF enhances LGUE through the effects of green technological innovation, industrial upgrading, and public green behavior. The moderation analysis further reveals that artificial intelligence can amplify the positive impact of GF on LGUE. The heterogeneity results show that the positive relationship between GF and LGUE is more pronounced in midwestern cities, non-resource-based cities, and cities with a high level of financial development. Therefore, it is essential to expand the GF pilot program in a structured manner and establish a coordinated mechanism to promote LGUE improvement through GF in different regions, thereby enhancing financial service efficiency for the real economy.https://www.mdpi.com/2073-445X/14/2/332green financeland green use efficiencyquasinatural experiment |
| spellingShingle | Fen Wang Haikuo Zhang Jingjie Zhou Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural Experiment Land green finance land green use efficiency quasinatural experiment |
| title | Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural Experiment |
| title_full | Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural Experiment |
| title_fullStr | Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural Experiment |
| title_full_unstemmed | Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural Experiment |
| title_short | Impact of Green Finance on Chinese Urban Land Green Use Efficiency: An Empirical Study Based on a Quasinatural Experiment |
| title_sort | impact of green finance on chinese urban land green use efficiency an empirical study based on a quasinatural experiment |
| topic | green finance land green use efficiency quasinatural experiment |
| url | https://www.mdpi.com/2073-445X/14/2/332 |
| work_keys_str_mv | AT fenwang impactofgreenfinanceonchineseurbanlandgreenuseefficiencyanempiricalstudybasedonaquasinaturalexperiment AT haikuozhang impactofgreenfinanceonchineseurbanlandgreenuseefficiencyanempiricalstudybasedonaquasinaturalexperiment AT jingjiezhou impactofgreenfinanceonchineseurbanlandgreenuseefficiencyanempiricalstudybasedonaquasinaturalexperiment |