Is green finance fostering high-quality energy development in China? A spatial spillover perspective

• Published in: Energy strategy reviews Vol. 50; p. 101201
• Main Authors: Xu, Jiajun, Wang, Jinchao, Li, Rui, Gu, Muxin
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.11.2023; Elsevier
• Subjects: Green finance; High-quality energy development; Spatial attenuation boundary; Spatial model; Spatial threshold; Spatial threshold; Spatial model; Spatial attenuation boundary; Green finance; High-quality energy development
• ISSN: 2211-467X; 2211-467X
• DOI: 10.1016/j.esr.2023.101201

As the world's largest energy consumer, it is worth exploring how China can achieve high-quality energy development. This paper aims to assess the role of green finance development in China's high-quality energy development (HED). We develop two indicator systems to measure the level of provincial green finance and HED in China and find a significant contribution of green finance to both local and neighboring HED based on a spatial model. These findings still hold after considering endogeneity and performing a series of robustness tests. In addition, we find that the effect of green finance is more pronounced after exceeding the threshold value, and the spatial spillover boundary of green finance is 1750 km. These findings provide a reference for the government to develop further green finance policies to achieve high-quality energy development. •Green finance promotes high-quality energy development (HED).•Green finance has a positive spatial spillover effect on HED.•High level of green finance has greater impact on HED.•The spatial spillover boundary of green finance on HED is 1750 km.