Akademik Veri Yönetim Sistemi
Global Finance Journal, cilt.71, 2026 (SSCI, Scopus)
Green finance plays an important role in supporting environmentally sustainable investment and reducing climate-related financial risks. In this context, understanding its contribution to the energy transition is important. However, the spatial effects of green finance have received limited attention. Hence, this paper examines 29 Chinese provinces over the period 2003–2019 and applies a Dynamic Spatial Durbin Model (DSDM) to estimate the short- and long-run direct and indirect effects of green finance on energy transition outcomes. Our results indicate that green finance significantly promotes clean energy adoption within provinces and generates positive spillover effects in neighboring regions. Moreover, the estimated impacts are stronger in the long run than in the short run, suggesting that the benefits of green finance accumulate over time and diffuse spatially. Industrial structure shows a positive association with the energy transition. By contrast, government support, urbanization, gross regional product, and financial infrastructure display negative effects. Our findings highlight the importance of regionally coordinated green finance policies and sustained financial support to achieve lasting improvements in clean energy adoption. They also suggest that policy efforts should prioritize long-term strategies and interprovincial cooperation to maximize the contribution of green finance to the energy transition.