移行金融・構造転換・炭素排出効率：中国各省の実証分析
Transition finance, structural transformation, and carbon emission efficiency: Evidence from Chinese provinces (原題)
Yongxiu Chen, Rana Zain ul Abidin, Rabia Qammar, Riyad Darwazeh
🤖 gxceed AI 要約
日本語
中国30省の2008〜2022年データを用い、移行金融が炭素排出効率（CEE）に与える影響を分析。移行金融はCEEを有意に改善し（係数0.020）、その効果は技術革新よりも構造転換を通じて発現する。エネルギー集約型・産業高度化地域で効果が大きく、2019年の国家移行金融ガイドライン後に限界的効果がやや強まった。
English
Using 2008–2022 data from 30 Chinese provinces, this study examines how transition finance affects carbon emission efficiency (CEE). Transition finance significantly improves CEE (coefficient 0.020), operating mainly through structural transformation rather than direct technological innovation. Effects are stronger in energy-intensive and industrial-upgrading regions, and modestly strengthened after China's 2019 national transition finance guidelines.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国の移行金融政策と炭素効率の実証は、日本がSSBJ・GX経済移行債・トランジション・ファイナンス指針を運用する上で、政策効果の測定手法と限界効果の検証例として参考になる。特に「構造転換経由」の効果経路は、日本の産業脱炭素支援策の設計に示唆を与える。
In the global GX context
This paper adds empirical evidence on how transition finance guidelines translate into measurable carbon efficiency gains, relevant to global debates on transition finance taxonomy design under ISSB/TCFD-aligned disclosure. Its finding that structural transformation—not direct innovation—drives effects offers a benchmark for evaluating transition finance policy in other economies.
👥 読者別の含意
🔬研究者:移行金融の効果測定にSuper-SBMと合成指数を用いた手法は、他国・地域比較研究の参照枠になる。
🏢実務担当者:移行金融の資金調達が炭素効率改善に寄与する経路を理解し、トランジション戦略や開示設計に活用できる。
🏛政策担当者:移行金融ガイドライン導入後の限界効果の変化は、政策ロールアウト時の調整コストを考慮した設計の重要性を示す。
📄 Abstract（原文）
Achieving deep decarbonization requires financial systems capable of supporting both low-carbon industries and carbon-intensive sectors undergoing structural transformation. This study investigates the role of transition finance in promoting carbon emission efficiency (CEE) across 30 Chinese provinces from 2008 to 2022. We construct a composite transition finance index using carbon finance and green finance indicators and evaluate provincial CEE using a Super Slack-Based Measure model with undesirable outputs. The empirical results reveal several key findings. First, China's average CEE improved by approximately 35% between 2008 and 2022, showing a steady upward trend yet notable spatial disparities, with eastern provinces outperforming central and western regions. Second, transition finance exerts a significant positive effect on CEE (coefficient = 0.020, p < 0.01) across multiple model specifications, confirming its role in strengthening low-carbon production capacity. Third, heterogeneity analysis indicates that transition finance is especially effective in energy-intensive provinces and regions experiencing industrial upgrading, while its impact is weaker in high-pollution areas. Fourth, mechanism testing reveals that transition finance enhances CEE primarily through structural transformation rather than direct technological innovation. Fifth, energy structure, measured as energy consumption per unit of GDP, is negatively associated with CEE, confirming that provinces with higher energy intensity exhibit lower carbon emission efficiency. Finally, a post-2019 policy assessment shows that the marginal effect of transition finance modestly strengthened following the introduction of national transition finance guidelines, reflecting initial adjustment costs during policy rollout. Robustness checks using carbon intensity measures confirm the stability of the core findings. Overall, the results underscore the importance of developing a credible and well-functioning transition finance system to support China's dual carbon goals and promote high-quality green growth.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1080/15567249.2026.2738443first seen 2026-10-04 04:43:22
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。