Search

With the rapid progress of urbanization in China, the real estate industry, characterized by a long industrial chain, has become a pillar industry for economic development. Therefore, we inspect the nexus between land finance, housing prices, and economic growth. For this purpose, we use the panel data of 277 cities at the prefecture level or above in China from 2011 to 2019, and empirically examine it by using the Panel Vector Auto Regression (PVAR) model. The results show that there is a causal relationship between housing prices and economic growth. Housing prices promote economic growth in the short term and inhibit it in the long term. Both economic growth and housing prices have a significant impact on land finance. The economic growth show a significantly positive impact, while housing prices promote land finance in the short term with a long-term trend from positive to negative. This is the first study that tries to probe the relationship between urban housing prices, land finance, and economic growth by considering 277 prefecture-level and above cities in China. To promote the stable development of the regional economy, local governments need to overcome their dependence on the housing market and land finance and promote the healthy development of the housing market. [ABSTRACT FROM AUTHOR]

Corporate green investment is a new possibility that may overcome environmental challenges and other economic concerns. The excessive use of industrial gases and chemicals concerns all authorities. Conversely, the traditional economy has rapidly transformed into a digital economy, particularly in China. The digital financing system in China edifies a new face of the industry and economy that stimulates company social action. This study unfolds the three critical aspects of digital finance that pertain to corporate green investments in highly polluting companies. After a series of econometric tests, the research demonstrated how companies can be persuaded to make green investments using digital financing. It emphasised how institutional investors support corporate green investments and act as moderators to strengthen the relationship between digital finance and corporate green investment. Furthermore, it unveiled the critical function of environmental regulations for green investment improvement and the reason for positivity among digital financing and company green investment. With the heterogeneity test, the study segregated state-owned and non-state-owned firms. It discovered that state-owned businesses use the digital finance function more than non-state-owned businesses. This weak connection can be vital for non-state-owned firms through institutional investors and environmental regulations as moderators. Therefore, a fresh viewpoint in the digital age can encourage policymakers to improve corporate social action and promote a green economy. • The improvement of corporate green investment through digital finance has been discussed. • Institutional investors and environmental regulations are found to be powerful tools for the promotion of green investment. • Institutional investors and environmental regulations are also found to be effective apparatus that stimulate connections amid digital finance and firm green investment. • Heterogeneity analysis reveals the positive connection of the moderators for relationship between digital finance and company green investment in non-state-owned firms even.. [ABSTRACT FROM AUTHOR]