The Impact of Digital Finance on Green Total Factor Energy Efficiency: Evidence at China’s City Level

The rapid development of digital finance has delivered significant benefits, such as sustainable development and economic growth. We explore the relationship between digital finance and green total factor energy efficiency (GTFEE) for the first time, filling a gap in the existing literature. This pa...

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Published inEnergies (Basel) Vol. 15; no. 15; p. 5455
Main Authors Liu, Yang, Xiong, Ruochan, Lv, Shigong, Gao, Da
Format Journal Article
LanguageEnglish
Published Basel MDPI AG 01.08.2022
Subjects
Cities
Data envelopment analysis
Developing countries
digital finance
Economic development
Economic growth
Energy consumption
Energy efficiency
Environmental impact
Environmental protection
Environmental regulations
Financial institutions
Financial services
green technology innovation
green total factor energy efficiency
industrial structure upgrading
Innovations
LDCs
Low income groups
Mathematical programming
Research & development expenditures
Small & medium sized enterprises-SME
China
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Abstract The rapid development of digital finance has delivered significant benefits, such as sustainable development and economic growth. We explore the relationship between digital finance and green total factor energy efficiency (GTFEE) for the first time, filling a gap in the existing literature. This paper uses dynamic panel models to explore digital finance’s impact on GTFEE at the Chinese city-level panel data from 2011 to 2018. The results show that digital finance can significantly improve urban GTFEE, and the findings remain robust with various tests. Second, the mechanism analysis indicates that digital finance can improve GTFEE by promoting urban green technology innovation and industrial structure upgrading. Further study shows that digital finance has a better effect on the improvement of GTFEE in central and western cities, small cities and non-resource-based cities, but has no significant or small impact on GTFEE in eastern cities, large cities and resource-based cities, reflecting the inclusiveness of digital finance.
AbstractList The rapid development of digital finance has delivered significant benefits, such as sustainable development and economic growth. We explore the relationship between digital finance and green total factor energy efficiency (GTFEE) for the first time, filling a gap in the existing literature. This paper uses dynamic panel models to explore digital finance’s impact on GTFEE at the Chinese city-level panel data from 2011 to 2018. The results show that digital finance can significantly improve urban GTFEE, and the findings remain robust with various tests. Second, the mechanism analysis indicates that digital finance can improve GTFEE by promoting urban green technology innovation and industrial structure upgrading. Further study shows that digital finance has a better effect on the improvement of GTFEE in central and western cities, small cities and non-resource-based cities, but has no significant or small impact on GTFEE in eastern cities, large cities and resource-based cities, reflecting the inclusiveness of digital finance.
Author Liu, Yang
Lv, Shigong
Gao, Da
Xiong, Ruochan
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Snippet The rapid development of digital finance has delivered significant benefits, such as sustainable development and economic growth. We explore the relationship...
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SubjectTerms Cities
Data envelopment analysis
Developing countries
digital finance
Economic development
Economic growth
Energy consumption
Energy efficiency
Environmental impact
Environmental protection
Environmental regulations
Financial institutions
Financial services
green technology innovation
green total factor energy efficiency
industrial structure upgrading
Innovations
LDCs
Low income groups
Mathematical programming
Research & development expenditures
Small & medium sized enterprises-SME
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Title The Impact of Digital Finance on Green Total Factor Energy Efficiency: Evidence at China’s City Level
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