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ABSTRACT
Green finance development is a comprehensive system with three aspects interacted: economic, environmental, and financial activities. Based on its internal mechanism, this paper constructs an evaluation system of green finance development, which fills the absence of existing studies on green finance development. The internal development of green finance is transformed into three subsystems by PSR (Pressure-State-Response) model, and the evaluation scores are calculated by the entropy weight method. As the applications of the evaluation system, the horizontal comparison and vertical trend of green finance development in different regions of China from 2004 to 2017 are analyzed, and the relationship between green finance and sustainable energy development can also be quantitatively analyzed. The results show that sustainable energy development can be promoted through the development of green finance, using various measures in dimensions of economic development, financial development, and environmental development.
Notes
1. Considering the data we used in this paper have a nature of increment or decrement in time series, the linear interpolation method is taken to deal with the missing part of data (see Noor et al. Citation2014; Schlitt et al. Citation1995; Zhu et al. Citation2007). Since the missing data only take a small portion, the interpolation error can be ignored and this processing will not affect the overall results.