Research On The Influence And Spatial Spillover Effect Of Green Finance On Rural Revitalization

With the double carbon situation,rural green transformation is a strategic necessity.In the era of "double carbon," green finance can guide funds to the environmental protection industry,improve industrial structure,and promote rural green transformation.It is currently unclear how green finance contributes to rural revitalization,however,and few studies have conducted in-depth analyses of the spatial effect of green finance.In order to formulate targeted policy recommendations,China should study the spatial spillover effect and mechanism of green finance on rural revitalization.A spatial Dubin model is used to analyze the spatial spillover effect of green finance on rural revitalization.Rationalization of industrial structure mediates the effect.Agricultural-related finance and environmental regulation are used to analyze the moderating effects of green finance.Green finance,industrial structure rationalization,and environmental regulation threshold effects are examined.Based on the findings,Firstly,A significant positive spatial spillover effect of green finance is rural revitalization,and increasing green finance can promote this.China’s green finance has a significant negative spatial spillover effect due to its quadratic term.Secondly,Green finance can effectively fuel rural revitalization in eastern,central,and western regions.The east and central regions are significantly affected by green finance,while the west is less so.Rural revitalization is impacted inverted U-shaped in the eastern region,but not clearly in the central or western regions.Thirdly,compared with the central and western regions,rural revitalization in the eastern region is inverted U-shaped.Rural revitalization is partially mediated by industrial structure rationalization,which plays a partial intermediary role of 13.35%.Fourthly,Green finance and rural revitalization are positively influenced by agricultural fiscal expenditures.It is important to note that environmental regulation has a negative impact on green finance and rural revitalization.Finally,Rationalization of industrial structure and environmental regulation will impair the promotion of green finance to rural revitalization when they exceed the threshold,while green finance will promote green finance to rural revitalization when it exceeds the threshold.It is therefore crucial to consider the spatial spillover effects of green fin ance on rural revitalization and province-wide development.In addition,we s hould rationalize industrial structures,tilt fiscal policy in an agricultural direct ion,control environmental regulation,and continuously deepen the developmen t of green finance.In order to maximize green finance’s role in promoting ru ral revitalization,we need to take into account the nonlinear impact of greenfinance on rural revitalization.