文献类型：期刊文献

英文题名：The synergistic effects of financial development and industrial structure on urban decarbonization

作者：Li, Junming[1];Zhang, Guoqing[2];Gong, Zhengqi[3];Ma, Xiaona[4]

机构：[1]Northwest Minzu Univ, Dept Business Management, Management Sch, PO Box 730030, Lanzhou 730030, Peoples R China;[2]Shandong Business Inst, Sch Econ & Management, Yantai 264670, Shandong, Peoples R China;[3]Guangdong Ocean Univ, Sch Econ, Zhanjiang 524088, Peoples R China;[4]Sichuan Univ, Business Sch, PO Box 610064, Chengdu, Peoples R China

年份：2025

卷号：103

外文期刊名：INTERNATIONAL REVIEW OF ECONOMICS & FINANCE

收录：SSCI(收录号：WOS:001568965500001)、、Scopus(收录号：2-s2.0-105015068029)、WOS

基金：This research was supported by the Fundamental Research Funds for the Central Universities (Project Number: 31920240055) ; the Undergraduate Talent Training Quality Improvement Project of Northwest Minzu University (Project Number: 2024YBJG-10) ; the 2024 Guangdong Ocean University Research Launch Project (Project Number: 060302082401) ; and the Guizhou Provincial Philos-ophy and Social Science Planning Project (Project Number: 22GZYB34) .

语种：英文

外文关键词：Urban decarbonization; Industrial structure; Financial development; High-tech industry

外文摘要：This paper examines the role of financial development in shaping the environmental outcomes of industrial structural upgrading in Chinese cities. Drawing on panel data from 295 prefecture-level cities between 2013 and 2023, the study focuses on the decarbonization implications of high-tech industry expansion and service-sector growth. Employing two-way fixed effects models with interaction terms, supported by random effects and instrumental variable estimations for robustness, the results reveal distinct patterns. Newly established high-tech enterprises initially increase emissions, yet their long-term contribution to decarbonization improves significantly in cities with more advanced financial systems. In contrast, the cumulative agglomeration of hightech firms and the expansion of the tertiary sector are consistently linked to reductions in carbon dioxide emissions. The findings underscore the critical moderating role of both traditional and digital finance, which amplify the pollution-mitigating effects of structural transformation. By highlighting the institutional conditions that enable green structural change, this study provides new insights into how financial infrastructure can facilitate urban decarbonization in emerging economies.