Study on the Impact of Clean Power Investment on Regional High-Quality Economic Development in China

Abstract

In 2017, the 19th CPC National Congress proposed to “establish a sound economic system of green, low-carbon and circular development”, which indicates the direction of high-quality economic development in the new era of China. Clean power investment is a powerful way to promote high-quality economic development by adopting non-fossil-energy utilization and low-emission technologies, as well as creating new jobs. Meanwhile, large-scale investment and a long investment return period result in negative effects on local economies. To better understand the effect of clean power investment, this paper selects panel data of thirty provinces in China from 2010 to 2019 to establish a spatial Durbin model to explore the impact of clean power investment on regional high-quality economic development. The results show that inter-regional high-quality economic development shows significant spatial auto-correlation characteristics. Clean power investment has not only a positive direct effect on high-quality economic development but also generates positive spatial spillover effects. Human capital, degree of government intervention, and urbanization rate have positive effects on regional high-quality economic development, while they play a suppressed role on neighboring regions.

The spatial spillover effect of financial growth on high-quality development: Evidence from Yellow River Basin in China

“…The United States evaluates the new-economy improvement in terms of five dimensions: innovation capacity, internationalization, experience of employment, digitalization, and economic progress (Atkinson and Nager, 2014). The Chinese Government has proposed a new notion for development modes, based on which a large number of studies have constructed a comprehensive evaluation system with five sub-indicators (Zhuang and Pan, 2022;Li et al 2022). About YRB, Zhang et al (2023c) established an HD evaluation system from four aspects: resources, ecology, economy, and society.…”

“…Second, the existing evaluation theories on HD mainly rely on the macroeconomic planning documents from the Chinese government (Zhuang and Pan, 2022;Li et al 2022) and social indicator combinations (Zhang et al 2023c). This study summarizes the existing indicator selection schemes for HD evaluation, and combines the analysis of the contradiction theory of "Demand-Development" to establish a new system to evaluate HD in the YRB.…”

Advancing Sustainable Energy Solutions: Innovations in Clean Energy Applications and Conventional Energy Efficiency Upgrade

“…Wang et al [18] assess various strategies for reducing carbon emissions in Guizhou Province, China, highlighting the necessity of integrated policies for sustainable development and carbon reduction. Zhuang and Pan [19] investigate the impact of clean power investment on regional, high-quality economic development in China, utilizing a spatial Durbin model to analyze panel data from thirty provinces from 2010 to 2019, offering valuable insights for policy-makers aiming to align economic growth with environmental sustainability goals.…”