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In the digital era, digitalization brings great opportunities and challenges for cities' environmental governance and economic growth. However, it is worth noting that the impact of digitalization on cities' green transition has not been studied from the perspective of Metcalfe's Law. This paper uses the principal component method and non-radial directional distance function (NDDF) to calculate the digital development level and the green economic performance of 269 Chinese cities from 2003 to 2019. (1) The empirical findings demonstrate that digitalization has become a strong driver for cities' green economic transformation. (2) Digitalization indirectly promotes green transition through industrial structure optimization and green technological innovation. (3) The heterogeneity results show that the positive effect of digitalization on green development is more obvious in eastern and economically developed cities. (4) Using the partially linear functional-coefficient model (PLFC), this paper studies the non-linear nexus between digitalization and green economic transition from the perspective of Metcalfe's Law. Thus, Metcalfe's law is confirmed in the green transition of Chinese cities. Some policy recommendations are offered for realizing the coordinated development of digitalization and greening of the urban economy. [ABSTRACT FROM AUTHOR]

High-quality economic development focuses on achieving effective qualitative improvement and reasonable quantitative growth in the economy, which is the essential way for China to achieve sustainable development. This paper aims to investigate the role of financial development in the impact of foreign direct investment on high-quality economic development. GDP and green total factor productivity are used to measure the quantity and quality of economic development, respectively. We construct benchmark panel regression models, nonlinear interaction term models, and panel threshold models to examine the threshold effect of FDI on high-quality economic development based on the scale, structure, and efficiency of financial development. A series of tests are conducted to check the robustness of the estimates. Our results show that green total factor productivity in China is primarily driven by green technology progress. Additionally, foreign direct investment has a positive impact on China's high-quality economic development, with a threshold effect and nonlinear characteristics. Specifically, the scale of financial development affects the influence of foreign direct investment on the quantity of economic development, while the efficiency of financial development affects its influence on the quality of economic development. Furthermore, the structure of financial development affects both the quantity and quality of economic development. This study presents novel findings that contribute to understanding the role of financial development in the impact of foreign direct investment on high-quality economic development. Likewise, our research has implications for achieving high-quality development. The introduction of foreign direct investment under the high-quality development of the economy should comprehensively consider financial development. • The impacts on high-quality economic development of financial development and FDI were discussed. • The scale, structure and efficiency of financial development were considered. • Both quantity and quality of economic development were focus on. • The green total factor productivity in China was measured. • Policy implications of introducing FDI in China were proposed. [ABSTRACT FROM AUTHOR]

This study aims to examine how carbon trading policies impact total factor carbon productivity and subsequently provide recommendations for sustainable regional development. Through analyzing the trends in total factor carbon productivity and its mechanisms, this paper suggests that carbon trading policies can significantly enhance total factor carbon productivity. Additional mechanistic tests reveal that carbon trading can promote technological progress, factor accumulation, scale allocation and energy substitution effects; all contributing towards a low-carbon economic transition. These four effects serve to both promote economic growth and contribute towards carbon reduction targets. Therefore, to encourage low-carbon and high-quality development of the region's economy, policymakers must focus not only on constructing and expanding carbon markets, but also emphasize the synergies between these different effects. [ABSTRACT FROM AUTHOR]

Under the background of the gradual scarcity of terrestrial resources and the increasingly fierce competition for global marine resources, the task of green development of marine economy and green transformation of marine industry is imminent. Carbon finance is a product of low-carbon economic development and a derivative of green finance. It is an effective way to alleviate the global climate crisis and promote the transformation of the global economy to a low-carbon economy to achieve sustainable development. Studying the mechanism of carbon finance on the development of marine economy will help to grasp the influencing factors of the green transformation of the marine industry in an all-round way, better promote the sustainable development of China's marine economy, and realize the strategy of marine power at an early date. Based on this, this paper selects China's data from 2006 to 2020, and uses the AHP-entropy method to select 26 indicators from five levels: economic growth, energy conservation and emission reduction, marine ecology, structural adjustment and scientific and technological innovation to construct a comprehensive evaluation index system for the green transformation of China's marine industry. Based on the PLSR model, the impact of carbon finance on the green transformation of China's marine industry is empirically analyzed, and the results show that: (1) The comprehensive score of China's marine industry green transformation from 2006 to 2020 fluctuates and rises: from 2006 to 2009, the comprehensive score of China's marine industry green transformation is low, and the transformation effect is not obvious. From 2009 to 2012, the comprehensive score of green transformation of the marine industry improved significantly. From 2012 to 2018, the comprehensive score of China's marine industry green transformation fluctuated little and showed a slow growth trend, while China's marine economic transformation grew steadily at a low speed. In 2019–2020, due to the impact of the epidemic, the speed of transformation has decreased again. (2) The carbon ratio and the green credit balance of commercial banks have a role in promoting the green transformation of China's marine industry, while the carbon trading volume and carbon intensity have a restraining effect on the green transformation of China's marine industry. From the perspective of effect, carbon intensity has the strongest effect, followed by carbon ratio, carbon trading volume is slightly weaker, and the role of green credit balance of commercial banks is the weakest. Based on the research conclusions, relevant policy recommendations were put forward. [ABSTRACT FROM AUTHOR]

Whether financial agglomeration is conducive to eco-efficiency is of great importance for countries to better pursue cleaner production, low carbon emission reduction, and sustainable development paths. This paper focuses on 38 Organization for Economic Co-operation and Development (OECD) members. Based on the scientific accounting of green eco-efficiency by the super-efficiency slack-based measure (SBM) model, the relationship between financial agglomeration and eco-efficiency is thoroughly investigated by combining the spatial Durbin model (SDM), the mediating effects model, and the panel threshold regression (PTR) model, bridging the knowledge gap. Empirical results reveal that (1) Financial agglomeration has strong positive externalities for eco-efficiency in the home country and its neighbors, with the trickle-down effect playing a key role. (2) Financial agglomeration can indirectly promote cleaner production and eco-efficiency by strengthening technological innovation and upgrading industrial structure, with the latter being more strongly mediated. (3) The effect of financial agglomeration in enhancing eco-efficiency has clear stage differences. The low-level financial agglomeration will impede the improvement of green eco-efficiency while the high-level will support it, which is in line with the Environmental Kuznets Curve theory and the law of economic development. The research broadens the theoretical underpinnings of financial agglomeration and eco-efficiency and provides guidance and implications for OECD members and other emerging economies on how to optimize the spatial allocation of financial resources, promote eco-efficiency, and advance green sustainable development. [Display omitted] • The eco-efficiency of 38 OECD members was estimated. • The impact of financial agglomeration on eco-efficiency was examined quantitatively. • The spatial Durbin model considering potential spatial spillover effects was employed. • Technology innovation, industrial upgrading, and urbanization may affect eco-efficiency. • Financial agglomeration can greatly boost eco-efficiency, but the relation is non-linear. [ABSTRACT FROM AUTHOR]

The societal impact of industrial pollution produced by economic activities is a global concern. This paper presents a causal analytic framework to evaluate the effectiveness of government policy on the reduction of industrial pollutants in 284 Chinese cities between 2005 and 2016. This study reports on the interaction between industrial pollution reduction and the level of regional economic development from four dimensions by using analysis of variance (ANOVA),multivariate analysis of variance (MANOVA) and a bootstrap autoregressive-distributed lag (ARDL) test. The results indicate that city government policies, economic power, the influence of megacities, and the geographical region of the cities have significant effects on industrial pollution, in particular, sulfur dioxide (SO 2) emission reduction and dust reduction. After taking account of the interaction effect of city government policies and the other three factors, it was found that economic power is the only factor to have a significant interaction with city government policies on industrial pollution reduction. The ARDL test found long-term causality among industrial pollution reduction, fixed assets investment, and GDP per-capita in city, urban agglomeration, and regional levels. This study sheds new light on the relationship between regional economic development and the development of sustainable societies. • Causal analytics model to evaluate the effectiveness of city government policy. • Economic power has a significant interaction with city government policy. • Analysis on the effects and interactions of path model. • Cointegration analysis on economic development and pollution reduction. [ABSTRACT FROM AUTHOR]

The 2030 Agenda for Sustainable Development stipulates 17 Sustainable Development Goals (SDGs). The implementation of this agenda will mobilize countries worldwide to incorporate the SDGs into their national development strategies. The agenda does not specify how these goals are interconnected, thus limiting their implementation. In addition, air quality affects human life and plays a vital role in achieving these SDGs. Clarifying the interconnections between SDGs related to air pollution and other SDGs will accelerate the implementation of air protection and SDGs while simultaneously promoting policy coherence. In this paper, we use the latest calculation of the SDGs in China to construct national and provincial panel data to investigate the trade-offs and synergies among Chinese air pollution-related SDGs. The findings are as follows. First, most air pollution-related SDGs have synergetic relationships, except for SDG12, which has a trade-off relationship with other air pollution-related SDGs. Second, the synergies between air pollution-related SDGs and other SDGs far outweigh the trade-offs. Third, rapidly developing areas are more likely to experience a trade-off between economic development and air pollution problems. Fourth, geographic advantages in reducing air pollution, such as being adjacent to the sea, may weaken the synergies among air pollution-related SDGs and their synergies with other SDGs. These findings indicate that most air-pollution-related SDGs and interactions between air-pollution-related SDGs and other SDGs have substantial synergy; that is, measures aimed at one goal are conducive to the advancement of other goals. However, SDG12 reflects a trade-off relationship between economic development, environmental protection, and resource utilization. [ABSTRACT FROM AUTHOR]