Impact of digital finance on urban ecological resilience: evidence from the Yangtze River Economic Belt in China.

From the emergence of the new coronavirus pandemic to extreme climatic catastrophes, the development and enhancement of urban ecological resilience has evolved into a critical and strategic imperative. Investigating the capacity of digital finance to promote urban ecological resilience bears substantial relevance to the sustainable advancement of urban centers. This study examines the influence of digital finance on urban ecological resilience by applying a benchmark regression model on data from 107 prefecture-level cities within the Yangtze River Economic Belt across 2011-2020. Additionally, this study delves into its mechanism and spatial spillover impacts via a mediating effect model and a spatial effect model. The findings revealed that (1) digital finance strengthens the ecological resilience of the locale and beneficially impacts the surrounding regions; (2) digital finance enhances urban ecological resilience by fostering technological innovation and reducing energy intensity; and (3) in the lower reaches of the Yangtze River, digital finance plays a greater role in improving urban ecological resilience. Cities with high level of traditional financial development, high level of economic development and high intensity of environmental regulation have a more obvious role in promoting urban ecological resilience. Within the paradigm of ecological civilization, it is advisable for governmental bodies to fortify inter-regional digital financial collaboration, refine the green financial infrastructure, and advocate for sustainable, low-carbon, high-quality urban development.

Assessing China's development zones and carbon emissions.

The present article evaluates establishment of development zones and its association with carbon emissions. In the process of industrialization, carbon emissions in underdeveloped regions of the world increase with economic growth. In order to promote economic growth in the western region and strengthen the management of enterprise pollution emissions, the Chinese government has set up hundreds of development zones. Existing research shows that development zone establishment can promote economic growth; however, literature is scarce when the relationship is tested across region. Based on the panel data of five provinces with relatively backward economy in western China from 2001 to 2017, this paper constructs a "multi-period difference-in-difference" (DID) model with the establishment of development zones as a "quasi-natural experiment" to test the relationship. Findings reveal that development zone establishment increases carbon emissions in the region, and has a significant inhibitory effect on carbon emissions at national level. The conclusions of this paper provide empirical evidence and policy implications for reducing carbon emissions in economically underdeveloped areas.