Study on the Spatio-temporal Heterogeneity of Green Finance Development Level and Its Influencing Factors in the Guangdong-Hong Kong-Macau Greater Bay Area: An Empirical Analysis Based on Entropy Method and GTWR Model

Zhenyu Zheng

doi:10.62051/ijgem.v9n2.02

Authors

Zhenyu Zheng

DOI:

https://doi.org/10.62051/ijgem.v9n2.02

Keywords:

Guangdong-Hong Kong-Macau Greater Bay Area, Green Finance, Entropy Method, GTWR Model

Abstract

Against the background of global climate change and China's "dual carbon" goals, the development of green finance in the Guangdong-Hong Kong-Macau Greater Bay Area has strategic demonstration significance for the whole country. However, there is a significant imbalance within the region. This study focuses on 9 inland cities in the Greater Bay Area from 2016 to 2022. It builds an evaluation system covering 7 dimensions including green credit and green investment, uses the entropy method to calculate the green finance index, and combines the GTWR model to explore the spatio-temporal heterogeneity of 5 core influencing factors. The findings indicate that green finance in the Greater Bay Area exhibits notable spatial and temporal differences. In terms of time, the index rises with fluctuations, and the growth rate increases after 2019. Guangzhou and Shenzhen have become a "dual-core" driving force. In terms of space, the pattern has changed from "isolated dual-core" to "dual-core and dual-belt". The eastern bank of the Pearl River Estuary is more strongly driven by the coordination of Guangzhou and Shenzhen. Green patents have a continuous positive driving effect. Industrial structure and economic development mainly have negative impacts. The impacts of government intervention and energy consumption intensity are different between the eastern and western banks of the Pearl River Estuary. In addition to providing empirical support for developing distinct green finance policies and advancing regional coordinated development, this study also closes the theoretical gap in the spatio-temporal differentiation of regional green finance.

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