Green finance as a driver for environmental and economic resilience post-COVID-19: A focus on China's strategy

Abstract

This study investigates the critical role of green finance in enhancing environmental and economic resilience during China's post-COVID-19 recovery. Employing sophisticated econometric techniques, including the Vector Error Correction Model (VECM) and Nonlinear Autoregressive Distributed Lag (NARDL) model, the effectiveness of green finance policies and instruments is rigorously assessed during the years 1986-2022. The findings reveal that green finance initiatives significantly fund sustainable projects and drive economic revitalization, marking substantial progress in China's eco-friendly recovery. Essential areas for improvement identified include robust policy support, technological innovation, and stronger international collaboration. Specifically, leveraging green finance effectively necessitates coordinated efforts across various sectors, ensuring it underpins China's sustainable development and resilience amid global economic challenges. The study recommends enhancing green finance mechanisms through comprehensive policy frameworks, fostering green technology innovation, and developing global partnerships to address environmental sustainability and economic recovery synergistically.

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