How green finance drives innovation: An empirical analysis based on urban efficiency evaluation

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Empirical analysis highlights how green finance boosts efficiency in urban environments, pointing to significant regulatory impacts.

Green finance significantly enhances both green technology efficiency and green result efficiency, improving urban sustainability.
For every 1% increase in green finance, there is a 0.203% rise in green technology efficiency and a 0.258% increase in green result efficiency.
The study employs fixed effect panel models and spatial Durbin models to analyze data from 284 cities in China over 14 years.
Implications reveal that effective regulation of green finance can further strengthen its positive impacts on urban efficiency.

Siyao Liu (2025) studied this question.

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