ISSN: 2225-8329
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The industrial structure of China is going through a change towards the service-oriented industries and has proven a great influencer for the economic development of the country. As the world is moving towards the sustainable approach, a sustainable touch has been introduced in the financial system, which refers to green finance. This study explored the impact of green finance on the industrial structure transformation and upgrading in China using the panel dataset for the time period from 2008 to 2019. The data has been collected from the Statistical Yearbook of the country, Wind Database, and CSMAR database. This study undertakes empirical data using the SYS-GMM Model after going through an entropy weight model. The study accesses the overall as well as the regional analysis of this relationship among the explanatory and explained variables in the presence of some control variables. The findings of the study imply that financial development through green finance is promoting industrial structure transformation and upgrading. The findings validate that the green bond, green investment, and carbon finance have strengthened and augmented the industrial structure upgrading. Hence the government should incorporate these financial processes in the banking processes and policymakers should implement policy measures that would support the easy functioning of these financial instruments.
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In-Text Citation: (Chengzhuo & Azman, 2023)
To Cite this Article: Chengzhuo, Z., & Azman, N. H. B. N. (2023). No TitleThe Impact of Green Finance on Industrial Structure Transformation from the Perspective of Sustainable Development. International Journal of Academic Research in Accounting Finance and Management Sciences, 13(2), 411–419.
Copyright: © 2023 The Author(s)
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