{"title":"The green development effect of science and technology financial policy in China","authors":"Xuxin Zou, Jiadi Min, Shuang Meng","doi":"10.3389/fenvs.2024.1463679","DOIUrl":null,"url":null,"abstract":"Green development, as a key link in the philosophy of new development, is the only way to achieve sustainable 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 difference-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 cities 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.","PeriodicalId":12460,"journal":{"name":"Frontiers in Environmental Science","volume":"2 1","pages":""},"PeriodicalIF":3.3000,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Frontiers in Environmental Science","FirstCategoryId":"93","ListUrlMain":"https://doi.org/10.3389/fenvs.2024.1463679","RegionNum":3,"RegionCategory":"环境科学与生态学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
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Abstract
Green development, as a key link in the philosophy of new development, is the only way to achieve sustainable 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 difference-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 cities 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.
期刊介绍：
Our natural world is experiencing a state of rapid change unprecedented in the presence of humans. The changes affect virtually all physical, chemical and biological systems on Earth. The interaction of these systems leads to tipping points, feedbacks and amplification of effects. In virtually all cases, the causes of environmental change can be traced to human activity through either direct interventions as a consequence of pollution, or through global warming from greenhouse case emissions. Well-formulated and internationally-relevant policies to mitigate the change, or adapt to the consequences, that will ensure our ability to thrive in the coming decades are badly needed. Without proper understanding of the processes involved, and deep understanding of the likely impacts of bad decisions or inaction, the security of food, water and energy is a risk. Left unchecked shortages of these basic commodities will lead to migration, global geopolitical tension and conflict. This represents the major challenge of our time. We are the first generation to appreciate the problem and we will be judged in future by our ability to determine and take the action necessary. Appropriate knowledge of the condition of our natural world, appreciation of the changes occurring, and predictions of how the future will develop are requisite to the definition and implementation of solutions.
Frontiers in Environmental Science publishes research at the cutting edge of knowledge of our natural world and its various intersections with society. It bridges between the identification and measurement of change, comprehension of the processes responsible, and the measures needed to reduce their impact. Its aim is to assist the formulation of policies, by offering sound scientific evidence on environmental science, that will lead to a more inhabitable and sustainable world for the generations to come.
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