Topic Analysis of the Relationship between Green Finance, Rural Green Development Level and Rural Residents' income: Based on The Empirical Study of Chengdu-Chongqing Economic Circle

DOI: https://doi.org/10.62517/jmsd.202412320

Author(s)

Liwen Zhang1,2

Affiliation(s)

1School of Economics, Sichuan University, Chengdu, Sichuan, China 2College of Carban Neutrality Future Technology, Sichuan University, Chengdu, Sichuan, China

Abstract

The objective of this study is to enhance the understanding of the role that green finance plays in fostering green development in rural areas and its impact on increasing the income of rural residents. Utilizing empirical data from 16 cities within the Chengdu-Chongqing economic circle, this paper examines the interrelations between green finance, the level of green development in rural areas, and the income of rural inhabitants. The findings indicate that green finance significantly influences the growth of rural income, yet its effects vary across different sources of income. Specifically, the impact of green finance on the growth of operational income is the most pronounced, followed by its influence on transfer and wage incomes, with the effect on property income being the least significant. Analysis of the intermediary effects reveals that the overall green development level of urban areas does not adequately represent that of rural regions, and the intermediary role is not pronounced. In light of these findings, it is recommended that the public sector should advocate for and bolster the development of rural green finance, balancing economic growth with environmental conservation to ensure that rural residents can reap the benefits of green development.

Keywords

Green Finance; Chengdu-Chongqing Economic Circle; Rural Revitalization; Rural Green Development Level; Rural Residents' Income

References

[1] Scholtens, B. Finance as a Driver of Corporate Social Responsibility. J Bus Ethics 68, 19-33 (2006). https://doi.org/10.1007/s10551-006-9037-1. [2] Salazar, J. (1998). Environmental Finance: Linking Two World. In A Workshop on Finance Innovations for Biodiversity Bratislava (pp. 2-18). [3] Labatt S .Environmental Finance: A Guide to Environmental Risk Assessment and Financial Products. Transplantation, 2002, 66 (8): 405-9. DOI: 10.1097/00007890-199810270-00041. [4] Yuxue Y, Xiang S, Shuangliang Y .Nexus between green finance, fintech, and high-quality economic development: Empirical evidence from China. Resources Policy, 2021, 74 [5] Chen Q, Ning B, Pan Y, et al. Green finance and outward foreign direct investment: evidence from a quasi-natural experiment of green insurance in China. Asia Pacific Journal of Management, 2021, 33 (3) 6:1-26. [6] Gao Jianliang. "Green Finance": A new financial operation strategy. Yunnan Finance, 1998(01):21-22. (Chinese) [7] Yang Xiaoyu, Zhou Dan. Opportunities, difficulties and realistic path of green finance to support high-quality agricultural development. Journal of Agricultural Economics, 2022(08):111-113.] (Chinese) [8] Fu Jingyan, Yuan Zonglin. Research on green finance development Path of commercial banks -- Based on a new perspective of "supply-demand" reform docking. Journal of Jinan (Philosophical and Social Sciences Edition), 2018, 40(01):36-46. (Chinese) [9] Deng Xiang, Wu Yulun, Wang Jie et al. Construction and measurement of green finance development index system in commercial banks. Statistics and Decision, 2022, 38(09). (Chinese) [10] Li Z, Liao G, Wang Z, et al. Green loan and subsidy for promoting clean production innovation. Journal of Cleaner Production, 2018, 187421-431. [11] Haifeng H, Jing Z. Research on the Environmental Effect of Green Finance Policy Based on the Analysis of Pilot Zones .Sustainability,2021,13(7):3754-3754.] [12] Liu Xia, He Peng. Study on the influence of green finance in the economic development of central China. Industrial Technical Economics, 2019, 38(03):76-84.] (Chinese) [13] Fu Yaping, Peng Zhengqin. Green finance development, R&D investment and regional economic growth: An empirical study based on provincial panel threshold model. Statistics and decision, 2020, 4 (21): 120-124. The DOI: 10.13546 / j.carol carroll nki tjyjc. 2020.21.024. (Chinese) [14] Han L H, Hare D. The link between credit markets and self -employment choice among households in rural China. Journal of Asian Economics, 2013, 26:52-64. [15] Zhu Y X, Zhang J P. Can green finance help the construction of rural ecological civilization?. Journal of southwest university (social science edition), 2023, 49 (5): 103-115. The DOI: 10.13718 / j.carol carroll nki XDSK. 2023.05.009. (Chinese) [16] Li Mingxian, Xu Yuxiang. Research on the Mechanism and Path of Green Finance Supporting the Construction of Beautiful Rural Areas. World Agriculture, 2024, (04): 72-82. DOI: 10.13856/j.cn11-1097/s. 2024.04.007(Chinese) [17] Yang L, Zou Jiang. The internal mechanism and logical framework of green finance promoting rural revitalization. Southwest Finance, 2019(05):39-47.] (Chinese) [18] Wang Zhiqiang, Wang Yifan. Green financial boost quality and economic development: the main path and countermeasures. Journal of agriculture and forestry economic management, 2020, 12 (3): 389-396. The DOI: 10.16195 / j.carol carroll nki cn36-1328 / f 2020.03.42. (Chinese) [19] Yang Shiwei. Green finance to support rural revitalization: internal logic, realistic situation and practical logic. Agricultural Economics and Management, 2019(05):16-24.] (Chinese) [20] Dong N. Current situation and path analysis of developing green finance to promote rural revitalization. Financial development research, 2020 (11): 86-89. The DOI: 10.19647 / j.carol carroll nki. 37-1462 / f 2020.11.010. (Chinese) [21] Wang Jinyi. China's rural building green financial system path exploration. Journal of modern economy, 2019 (01): 128-132. The DOI: 10.13891 / j.carol carroll nki. Killing 2019.01.017. (Chinese)