Abstract
We examine the effect of financial and manufacturing co-clustering on high-quality green development in China’s 30 provinces from 2005 to 2020. The nexus between financial and manufacturing co-clustering and high-quality green development has been comprehensively investigated from linear and non-linear perspectives. We find that financial and manufacturing co-clustering significantly fosters high-quality green development. Mechanism analysis shows that formal environmental regulation has a significant negative moderating effect on high-quality green development, whereas informal environmental regulation plays a significantly positive moderating role. However, empirical results only show the mediation effect of formal environmental regulation in the incentive role of financial and manufacturing co-clustering to high-quality green development. A dynamic panel threshold model also certifies the non-linear effect between financial and manufacturing co-clustering and high-quality green development. Lastly, the promotion effect of financial and manufacturing co-clustering on high-quality green development creates significant heterogeneity.
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Recommended Citation
Tao, Miaomiao; Poletti, Stephen; Sheng, Mingyue Selena; Silva, Emilson; and Shao, Xuefeng
(2024)
"How Does Industrial Agglomeration Drive High-Quality Green Development in China? New Evidence from a Financial and Manufacturing Co-Clustering,"
American Business Review: Vol. 27:
No.
2, Article 8.
DOI: 10.37625/abr.27.2.573-606
Available at:
https://digitalcommons.newhaven.edu/americanbusinessreview/vol27/iss2/8
DOI
10.37625/abr.27.2.573-606
