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In this paper, the STIRPAT model was developed to study the role of financial development in urban low-carbon economic transformation. The statistical analysis used data from 281 prefecture-level cities in China from 2009 to 2019. The results show that: (1) there is a positive U-shaped nonlinear relationship between financial development and urban low-carbon economic transformation. (2) Financial development not only directly affects the transformation of the low-carbon economy, but also indirectly affects it through three transmission channels: environmental regulation, industrial structure, and urbanization. (3) The financial development itself and the level of urbanization have a threshold effect on the transformation of the low-carbon economy. Under the threshold effect of environmental regulation and industrial structure, the role of financial development in the transformation of low-carbon economies presents a process of 'first decrease and then increase'. Therefore, improving the intensity of environmental regulation, implementing differentiated financial and industrial development policies, and controlling the urbanization process are effective measures to promote the transformation of low-carbon economies. [ABSTRACT FROM AUTHOR]

The balance between agricultural development and maintenance of agro-ecological environment becomes a huge challenge because of global climate changes. Existing literature on the low-carbon pilot policy proposed by the government of China and whether the problems of agricultural development and agricultural environmental protection can be solved or not have not been reviewed. This paper analyzes the impact of low-carbon pilot policies on agricultural eco-efficiency by using SARAR model based on the data of 281 cities in China. Results show the spatial spillover effects between low-carbon pilot policies and agricultural eco-efficiency. The implementation of low-carbon pilot policy can improve agricultural eco-efficiency. Although restrained by agricultural economic development, this policy has disequilibrium effect on agricultural eco-efficiency, has a relatively large impact on agricultural eco-efficiency in western China and other poor areas, and promotes the reduction of agricultural carbon emission. The effect of the implementation of low-carbon pilot policy is affected by the initial agricultural economic development and urban economic conditions. This research aims to improve the agricultural eco-efficiency and enforce the green development of the agricultural economy via the perspective of the low-carbon pilot policy. [ABSTRACT FROM AUTHOR]