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ORIGINAL RESEARCH article

Front. Environ. Sci.
Sec. Environmental Economics and Management
Volume 12 - 2024 | doi: 10.3389/fenvs.2024.1463679

The Green Development Effect of Science and Technology Financial Policy in China

Provisionally accepted
Xuxin Zou Xuxin Zou 1Jiadi Min Jiadi Min 1Shuang Meng Shuang Meng 2*
  • 1 Beijing Wuzi University, Beijing, Beijing Municipality, China
  • 2 Central University of Finance and Economics, Beijing, China

The final, formatted version of the article will be published soon.

    Green development, as a key link in the philosophy of new development, is the only way to achieve sus-tainable development. However, how science and technology (S&T) finance affects green development remains unclear. Based on panel data of 284 cities in China from 2007 to 2020, the multi-time-point dif-ference-in-differences (DID) model and the mediation model were utilized to analyze the influencing mechanisms and paths of the S&T financial pilot policy on green development. The results show that S&T financial policy can significantly promote green development, for which green innovation (GI) capability, industrial structure advancement (ISA), and industrial structure rationalization (ISR) are important paths. Moreover, the effects of S&T financial policy on green development are heterogeneous: the policy exerts a stronger effect on the central region than on the eastern and western regions, a stronger effect on large cit-ies than on small- and medium-sized cities, and a stronger effect on key cities than on general cities. Therefore, relevant governmental departments should continually optimize S&T financial policy; pay more attention to cities in the western region, small- and medium-sized cities, and general cities; actively foster GI capability; facilitate industrial structure transformation and upgrading; and vigorously support cross-regional exchange and cooperation to jointly realize green development. This study sheds new light on how the S&T finance related policy reform promotes sustainable growth and socio-economic welfare in developing countries.

    Keywords: Science and Technology, finance, Green development, green innovation, Industrial structure

    Received: 12 Jul 2024; Accepted: 03 Sep 2024.

    Copyright: © 2024 Zou, Min and Meng. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

    * Correspondence: Shuang Meng, Central University of Finance and Economics, Beijing, China

    Disclaimer: All claims expressed in this article are solely those of the authors and do not necessarily represent those of their affiliated organizations, or those of the publisher, the editors and the reviewers. Any product that may be evaluated in this article or claim that may be made by its manufacturer is not guaranteed or endorsed by the publisher.