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To direct financial resources for achieving the goal of environmental governance, the Chinese government has devoted increasing efforts to developing green finance. However, few studies explored the relationship between green finance and environmental governance. Thus, this paper first theoretically discusses the interactive connection between green finance and environmental governance. Then we construct two comprehensive indicator systems and use entropy method to calculate green finance index (GFI) and environmental governance index (EGI) for 30 provinces of China from 2004 to 2020. Using the data of GFI and EGI, the coupling coordination degree of green finance and environmental governance (CCDGE) is measured by coupling coordination model. The findings of spatial-temporal analysis show that GFI has grown more rapidly than EGI, but the development of green finance still lags behind environmental governance because of its short history. Although CCDGE is increasing steadily, it has been hovering in the moderate coupling coordination stage for a long time, and still has a great distance to the high coupling coordination level. The relationship between green finance and environmental governance are still in a state of disorderly development that restricts each other. Additionally, there are obvious regional differences in GFI and EGI and the interactive effect between green finance and environmental governance. Specifically, GFI and EGI in eastern China are highest, while CCDGE presents with a ladder decline status of ‘eastern region > central region > northeast region > west region’. |
