Toward Efficient Green Development: The Reallocative Effects of Green Finance
効率的なグリーン開発に向けて：グリーンファイナンスの再配分効果 (AI 翻訳)
Yanhua Meng, Yonggang Li, Ziwei Feng, Junxia Liu
🤖 gxceed AI 要約
日本語
本研究は、中国のグリーンファイナンス改革試験区政策（GFRIPP）を自然実験とし、企業のグリーン総要素生産性（GTFP）への影響を検証。差の差分析の結果、GFRIPPは労働と資本のミスアロケーションを是正することでGTFPを有意に向上させることが明らかとなった。地域や所有制による異質性も確認され、グリーンファイナンスが資源配分最適化に有効であることを示唆している。
English
This study uses China's Green Finance Reform and Innovation Pilot Zone Policy (GFRIPP) as a quasi-natural experiment to examine its impact on firms' Green Total Factor Productivity (GTFP). Difference-in-Differences analysis reveals that GFRIPP significantly raises GTFP by correcting labor and capital misallocation. Heterogeneous effects across regions and ownership structures underscore the policy's potential to optimize resource allocation for green transition.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本においてもグリーンファイナンスの促進が議論される中、本論文は政策介入による資源配分改善の実証エビデンスを提供する。SSBJや移行ファイナンスの枠組み設計において、資金の効率的配分を促す施策の重要性を示唆する点で示唆に富む。
In the global GX context
Globally, the paper contributes to the growing literature on green finance effectiveness, aligning with TCFD/ISSB emphasis on capital allocation. It demonstrates how policy-driven green finance can correct market failures, offering empirical support for transition finance frameworks and sustainable development goals.
👥 読者別の含意
🔬研究者:Provides causal evidence on green finance and factor allocation, useful for scholars studying climate finance and productivity.
🏢実務担当者:Corporate sustainability teams can leverage the findings to argue for green finance access as a means to improve resource efficiency.
🏛政策担当者:Offers insights for designing green finance pilot zones to optimize capital allocation and promote green transition.
📄 Abstract（原文）
Factor misallocation has long been identified as a fundamental constraint to achieving green development. Inefficient allocation of labor and capital not only hampers productivity growth but also amplifies environmental costs. In this context, green finance serves as a crucial policy instrument to facilitate the green transition by channeling financial resources toward environmentally friendly sectors and improving allocative efficiency. This study regards China’s Green Finance Reform and Innovation Pilot Zone Policy (GFRIPP) as a quasi-natural experiment and employs a Difference-in-Differences (DID) approach to empirically examine whether and how green finance enhances Green Total Factor Productivity (GTFP) through the mitigation of factor misallocation. Using micro-level data from Chinese listed firms, the analysis reveals that GFRIPP significantly raises corporate GTFP by correcting distortions in the allocation of labor and capital. Further investigation demonstrates heterogeneous effects across regions with varying degrees of factor misallocation, stages of economic development, and ownership structures. The findings underscore that policymakers can harness green finance as an effective instrument to optimize resource allocation, promote firm-level green transition, and advance sustainable development goals.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1177/21582440261467528first seen 2026-07-25 05:34:57
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。