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Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency

As a result of the COVID-19 pandemic, production costs have grown, while human and economic resources have been reduced. COVID-19 epidemic costs can be reduced by implementing green financial policies, including carbon pricing, transferable green certificates, and green credit. In addition, China’s...

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Detalles Bibliográficos
Autores principales: Hu, Zhaolin, Zhu, Suting
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9926458/
https://www.ncbi.nlm.nih.gov/pubmed/36787070
http://dx.doi.org/10.1007/s11356-023-25406-w
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author Hu, Zhaolin
Zhu, Suting
author_facet Hu, Zhaolin
Zhu, Suting
author_sort Hu, Zhaolin
collection PubMed
description As a result of the COVID-19 pandemic, production costs have grown, while human and economic resources have been reduced. COVID-19 epidemic costs can be reduced by implementing green financial policies, including carbon pricing, transferable green certificates, and green credit. In addition, China’s tourist industry is a significant source of revenue for the government. Coronavirus has been found in 30 Chinese regions, and a study is being conducted to determine its influence on the tourism business and green financial efficiency. Econometric strategies that are capable of dealing with the most complex issues are employed in this study. According to the GMM system, the breakout of Covid-19 had a negative effect on the tourism business and the efficiency of green financing. Aside from that, the effects of gross capital creation, infrastructural expansion, and renewable energy consumption are all good. The influence of per capita income on the tourism industry is beneficial but detrimental to the efficiency of green finance. Due to the current pandemic condition, this report presents a number of critical recommendations for boosting tourism and green financial efficiency. GRAPHICAL ABSTRACT: [Image: see text]
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spelling pubmed-99264582023-02-14 Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency Hu, Zhaolin Zhu, Suting Environ Sci Pollut Res Int Research Article As a result of the COVID-19 pandemic, production costs have grown, while human and economic resources have been reduced. COVID-19 epidemic costs can be reduced by implementing green financial policies, including carbon pricing, transferable green certificates, and green credit. In addition, China’s tourist industry is a significant source of revenue for the government. Coronavirus has been found in 30 Chinese regions, and a study is being conducted to determine its influence on the tourism business and green financial efficiency. Econometric strategies that are capable of dealing with the most complex issues are employed in this study. According to the GMM system, the breakout of Covid-19 had a negative effect on the tourism business and the efficiency of green financing. Aside from that, the effects of gross capital creation, infrastructural expansion, and renewable energy consumption are all good. The influence of per capita income on the tourism industry is beneficial but detrimental to the efficiency of green finance. Due to the current pandemic condition, this report presents a number of critical recommendations for boosting tourism and green financial efficiency. GRAPHICAL ABSTRACT: [Image: see text] Springer Berlin Heidelberg 2023-02-14 2023 /pmc/articles/PMC9926458/ /pubmed/36787070 http://dx.doi.org/10.1007/s11356-023-25406-w Text en © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2023, Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Research Article
Hu, Zhaolin
Zhu, Suting
Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency
title Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency
title_full Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency
title_fullStr Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency
title_full_unstemmed Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency
title_short Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency
title_sort impact of the covid-19 outbreak on china’s tourism economy and green finance efficiency
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9926458/
https://www.ncbi.nlm.nih.gov/pubmed/36787070
http://dx.doi.org/10.1007/s11356-023-25406-w
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