AN EMPIRICAL STUDY ON THE EVALUATION AND DRIVING FACTORS OF CHINA'S GREEN FINANCE DEVELOPMENT
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Abstract
This study constructs a comprehensive evaluation system for provincial-level green finance development, encompassing four dimensions: supply scale, market activity, investment efficiency, and policy environment. The Green Finance Development Index (GFDI) for 30 provinces in China from 2015 to 2023 was calculated. The study finds that while the overall level of green finance development in China shows an upward trend, significant spatial clustering and regional differentiation exist. This is manifested in the coexistence of «high-high» clustering in the east and «low-low» clustering in the west, exhibiting clear spatial positive autocorrelation and polarization trends. This provides important quantitative evidence for subsequent empirical research on driving factors and policy optimization.
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