The Impact of Green Finance on Regional Total Factor Productivity
DOI:
https://doi.org/10.62177/apemr.v3i3.1323Keywords:
Green Finance, Total Factor Productivity, Stochastic Frontier Analysis, Sustainable DevelopmentAbstract
Guided by the dual carbon goals of peaking emissions and achieving carbon neutrality, Guangdong Province, as the vanguard of China's reform and opening-up, offers valuable green finance development experiences that are of reference significance for South China and nationwide. Utilizing panel data from 21 prefecture-level cities in Guangdong (2000-2019), this study employs the entropy method and stochastic frontier analysis (SFA) to calculate a city-level Green Finance Development Index (GF) and Total Factor Productivity Change (TFPC). A two-way fixed effects panel model is then applied to empirically analyze the impact mechanisms of green finance on regional productivity. By decomposing total factor productivity into technological progress (TC), technical efficiency change (TEC), scale efficiency change (SC), and allocative efficiency change (AEC), the research delves into the operational pathways of green finance. Results show its complex, multidimensional effects: while it limits technical and scale efficiency, it significantly enhances technological progress and resource allocation efficiency.
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Copyright (c) 2026 Qisong Wang, Shangjun Li, Yajie Han
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
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Accepted: 2026-04-24
Published: 2026-05-11
