Amid escalating global climate change and environmental concerns, green finance emerges as a crucial instrument for fostering sustainable economic growth, is particularly important for a region like the Pearl River Delta Economy Zone (PRD), which is economically active and faces environmental challenges. In this paper, we adopt the coupling coordination degree (CCD) model, combined with the entropy method to ascertain the indicator weights, to process the green finance and regional economic data of the PRD, enabling a quantitative analysis of the coupling and coordinated development relationship between the two. The findings indicate that green finance outpaced the regional economy in terms of development level from 2016 to 2019, but since 2020 the regional economy has started to outperform the green finance development, showing the diversification of the regional economy and strong growth momentum. Additionally, the results of the study show that the coupling and coordinated relationship between the two is growing. Finally, we propose recommendations for the development of green finance and the regional economy in the PRD. By continuously optimizing the policy environment and strengthening the innovation of green financial products, it is possible to improve the green transformation capacity of the regional economy and synchronize the growth of both sectors to advance sustainable development of the PRD.

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Research on the Coupling and Coordinated Development Relationship of Green Finance and Regional Economy in the Pearl River Delta Economic Zone: Based on Level Measurement

  • Ruitong Guo,
  • Xinzi Qing,
  • Zehong Liu

摘要

Amid escalating global climate change and environmental concerns, green finance emerges as a crucial instrument for fostering sustainable economic growth, is particularly important for a region like the Pearl River Delta Economy Zone (PRD), which is economically active and faces environmental challenges. In this paper, we adopt the coupling coordination degree (CCD) model, combined with the entropy method to ascertain the indicator weights, to process the green finance and regional economic data of the PRD, enabling a quantitative analysis of the coupling and coordinated development relationship between the two. The findings indicate that green finance outpaced the regional economy in terms of development level from 2016 to 2019, but since 2020 the regional economy has started to outperform the green finance development, showing the diversification of the regional economy and strong growth momentum. Additionally, the results of the study show that the coupling and coordinated relationship between the two is growing. Finally, we propose recommendations for the development of green finance and the regional economy in the PRD. By continuously optimizing the policy environment and strengthening the innovation of green financial products, it is possible to improve the green transformation capacity of the regional economy and synchronize the growth of both sectors to advance sustainable development of the PRD.