Research on the impact of carbon emission trading policy on the development of green finance
LI Taoran
ZHU Zhiqiang
Abstract：The impact of carbon trading policy on the development of green finance has been widely concerned by scholars.This paper takes the implementation of carbon trading policy as a quasi-natural experiment,the Green finance Development Index of 274 prefecture-level cities from 2010 to 2021 was obtained by entropy method,and the effect of carbon emission trading policy on the development of green finance was studied by using multi-period double difference model,the research on carbon trading policy and the development of green finance has been expanded.The results show that the carbon emissions trading policy has a significant role in promoting the development of green finance in various regions The effective intervention of the government and the promotion of the level of scientific and technological innovation have both played a positive regulatory role;The role of carbon emissions trading policy in promoting the development of green finance is more obvious in regions with a high level of openness to the outside world and a high degree of financial development,it is found that the effects of carbon emission trading policies are heterogeneous in different periods and in different cohorts.The results can provide valuable reference for strengthening carbon emissions trading policy,reducing carbon emissions and developing a sound green financial system.
Keywords：carbon emission tradinggreen financedifference-in-difference modelheterogeneous in different periodsheterogeneous in different cohorts
Publication Date：2025-07-28
Online Publishing Date：2025-09-26(First online date of this platform, not the publication date of the document)
Pages：10( 87-96 )