Financial development, heterogeneous technological progress, and carbon emissions: Empirical analysis based on Provincial Panel Data in China

Financial development, heterogeneous technological progress, and carbon emissions: Empirical analysis based on Provincial Panel Data in China | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article Financial development, heterogeneous technological progress, and carbon emissions: Empirical analysis based on Provincial Panel Data in China Renzhong Liu, Jingxiu Du This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-993338/v1 This work is licensed under a CC BY 4.0 License Status: Under Review Version 1 posted 6 You are reading this latest preprint version Abstract Global warming, caused by an increase in carbon emissions, is a phenomenon that has attracted considerable attention worldwide. Financial development affects technological progress and carbon emissions. Based on the provincial panel data of 30 provinces and cities in China from 2006 to 2018, combined with the heterogeneity of technological progress, this study constructs an intermediary effect model for empirical analysis. Combined with different regional characteristics in the east, middle, and west of China, this study explores the impact of financial development on carbon emissions and the transmission path of heterogeneous technological progress as an intermediary variable. The results show that at the national level, in the eastern and central regions, the relationship between financial development and carbon emissions conforms to the characteristics of Environmental Kuznets curve, and the relationship between financial development and carbon emission in the western region increases linearly. Among the intermediary effect transmission paths of heterogeneous technological progress, generalised technological progress, environmental technological progress, energy technological progress, capital embodied technological progress and FDI technology spillover are the transmission paths of financial development on carbon emissions at the national level. However, after the regional division of the east, middle, and west, heterogeneous technological progress shows different carbon emission reduction effects. Through quantitative analysis, this study provides reference suggestions for financial development to help reduce carbon emissions, to prevent the emergence of ‘one size fits all’ technology policy or regional overall planning concept. Financial development Technological progress Heterogeneity Carbon emissions Full Text Cite Share Download PDF Status: Under Review Version 1 posted Reviewers agreed at journal 14 Jun, 2022 Reviews received at journal 24 Mar, 2022 Reviewers invited by journal 21 Feb, 2022 Editor invited by journal 04 Nov, 2021 Editor assigned by journal 25 Oct, 2021 First submitted to journal 18 Oct, 2021 You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. Our growing team is made up of researchers and industry professionals working together to solve the most critical problems facing scientific publishing. Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-993338","acceptedTermsAndConditions":true,"allowDirectSubmit":false,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":85438950,"identity":"2106037e-d3d9-442c-99b1-88f66d8d0b4f","order_by":0,"name":"Renzhong Liu","email":"","orcid":"","institution":"Harbin University of Commerce","correspondingAuthor":false,"submittingAuthor":false,"prefix":"","firstName":"Renzhong","middleName":"","lastName":"Liu","suffix":""},{"id":85438951,"identity":"18eedc5e-a28c-4c9d-a250-8fd9e9b5d711","order_by":1,"name":"Jingxiu Du","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAAAzElEQVRIiWNgGAWjYDACZiBOYGDgkWdvPviAJC1yhj3Hkg1IssyY4UaOmQRRSg2O85hJPGxjSGxsyDGreFPGIM8vdgC/FslmHmODRKCWdoZjZTfnnGMwnDk7Ab8WfmYewwcgLY2Nzdtu87YxJBjcJqCFjZnH4ABIS8NhBrNiorTAbDFmOMZixkyUFslmtmKDhHOgQGZLlpxzToKwXwzOH94m+aMMGJXyjw9+eFNmI88vTUALFPyHUDxsxEUNEuBhI1XHKBgFo2AUjAQAAJBfPHCuT8ftAAAAAElFTkSuQmCC","orcid":"https://orcid.org/0000-0002-9913-3238","institution":"Harbin University of Commerce","correspondingAuthor":true,"submittingAuthor":false,"prefix":"","firstName":"Jingxiu","middleName":"","lastName":"Du","suffix":""}],"badges":[],"createdAt":"2021-10-19 05:54:02","currentVersionCode":1,"declarations":"","doi":"10.21203/rs.3.rs-993338/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-993338/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":18703711,"identity":"224648d5-0c6d-4456-9535-0f9c9ed1af94","added_by":"auto","created_at":"2022-02-28 20:26:10","extension":"pdf","order_by":1,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":482967,"visible":true,"origin":"","legend":"","description":"","filename":"Manuscript1019.pdf","url":"https://assets-eu.researchsquare.com/files/rs-993338/v1_covered.pdf"}],"financialInterests":"","formattedTitle":"\u003cp\u003eFinancial development, heterogeneous technological progress, and carbon emissions: Empirical analysis based on Provincial Panel Data in China\u003c/p\u003e","fulltext":[{"header":"Full Text","content":"This preprint is available for \u003ca href='/article/rs-993338/latest.pdf' target='_blank'\u003edownload as a PDF\u003c/a\u003e."}],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":false,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":false,"hideJournal":false,"highlight":"","institution":"","isAcceptedByJournal":false,"isAuthorSuppliedPdf":true,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":false,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"environmental-science-and-pollution-research","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"espr","sideBox":"Learn more about [Environmental Science and Pollution Research](https://www.springer.com/journal/11356)","snPcode":"11356","submissionUrl":"https://submission.nature.com/new-submission/11356/3","title":"Environmental Science and Pollution Research","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"em","reportingPortfolio":"Springer Hybrid","inReviewEnabled":true,"inReviewRevisionsEnabled":false},"keywords":"Financial development, Technological progress, Heterogeneity, Carbon emissions","lastPublishedDoi":"10.21203/rs.3.rs-993338/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-993338/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003cp\u003eGlobal warming, caused by an increase in carbon emissions, is a phenomenon that has attracted considerable attention worldwide. 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Through quantitative analysis, this study provides reference suggestions for financial development to help reduce carbon emissions, to prevent the emergence of ‘one size fits all’ technology policy or regional overall planning concept.\u003c/p\u003e","manuscriptTitle":"Financial development, heterogeneous technological progress, and carbon emissions: Empirical analysis based on Provincial Panel Data in China","msid":"","msnumber":"","nonDraftVersions":[{"code":1,"date":"2022-02-28 20:26:03","doi":"10.21203/rs.3.rs-993338/v1","editorialEvents":[{"type":"communityComments","content":0},{"type":"reviewerAgreed","content":"","date":"2022-06-14T22:18:54+00:00","index":0,"fulltext":""},{"type":"editorInvitedReview","content":"","date":"2022-03-24T19:03:11+00:00","index":0,"fulltext":""},{"type":"reviewersInvited","content":"","date":"2022-02-21T13:58:17+00:00","index":"","fulltext":""},{"type":"editorInvited","content":"Environmental Science and Pollution Research","date":"2021-11-04T17:29:39+00:00","index":"","fulltext":""},{"type":"editorAssigned","content":"","date":"2021-10-25T06:16:06+00:00","index":"","fulltext":""},{"type":"submitted","content":"Environmental Science and Pollution Research","date":"2021-10-19T01:53:47+00:00","index":"","fulltext":""}],"status":"published","journal":{"display":true,"email":"[email protected]","identity":"environmental-science-and-pollution-research","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"espr","sideBox":"Learn more about [Environmental Science and Pollution Research](https://www.springer.com/journal/11356)","snPcode":"11356","submissionUrl":"https://submission.nature.com/new-submission/11356/3","title":"Environmental Science and Pollution Research","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"em","reportingPortfolio":"Springer Hybrid","inReviewEnabled":true,"inReviewRevisionsEnabled":false}}],"origin":"","ownerIdentity":"c63f1ca6-9d27-4946-a58c-ff168daa0be6","owner":[],"postedDate":"February 28th, 2022","published":true,"recentEditorialEvents":[],"rejectedJournal":[],"revision":"","amendment":"","status":"under-review","subjectAreas":[],"tags":[],"updatedAt":"2022-02-28T20:26:03+00:00","versionOfRecord":[],"versionCreatedAt":"2022-02-28 20:26:03","video":"","vorDoi":"","vorDoiUrl":"","workflowStages":[]},"version":"v1","identity":"rs-993338","journalConfig":"researchsquare"},"__N_SSP":true},"page":"/article/[identity]/[[...version]]","query":{"redirect":"/article/rs-993338","identity":"rs-993338","version":["v1"]},"buildId":"7rjqhiLT3MXkJMwkYKINL","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[84888],"gssp":true,"scriptLoader":[]}