https://bibliotecadigital.bcb.gob.bo/xmlui/handle/123456789/22232 2026-06-04T21:49:31Z 2026-06-04T21:49:31Z Meng Ding ; Cai Li b https://bibliotecadigital.bcb.gob.bo/xmlui/handle/123456789/22239 2026-06-02T21:00:05Z 2026-05-12T00:00:00Z

Green banking and sustainable development: Exploring energy efficiency, environmental policy, and financial resilience in emerging economies Meng Ding ; Cai Li b This study examines the relationship between green banking, energy efficiency, nvironmental policy, & financial resilience in emerging economies, utilising a comprehensive regression equation as a methodology. The study uses an extensive set of data (2001-2022) covering 42 countries. The core results value the influence of environmentally friendly financing on environmental sustainability, utilising modified savings per individual as a measure of sustainable growth. The research thoroughly analyses the impact of sustainable finance on detrimental environmental indices, uncovering important indications into how environmentally mindful finance might advance impartial economic growth, enhance conservation efforts, or strengthen regulations that support sustainable economies. Results highlight the essential role of green banking in promoting energy efficiency initiatives, improving the management of water re sources, and making positive, environmentally conscious investments as appropriate actions of government spending on environmental conservation. This effect functions through competitive pressure, which augments banks' credit capacities (by using customized products and enhanced green project evaluation) and draws in green firms (by lowering entry barriers). The transition to renewable energy sources can lead to sustainable development, and green finance plays a crucial role. To limit the risks of climate change and mitigate its adverse effects, the Intergovernmental Panel on Climate Change (IPCC) has emphasized the urgency of adopting renewable energies. The study promotes the development of improved legislative frameworks to maximize the potential of green finance, stressing the need for developing countries to leverage these financial techniques to achieve their sustainable development goals.

2026-05-12T00:00:00Z Richard S Hatfield ; Imran Hussain Shah https://bibliotecadigital.bcb.gob.bo/xmlui/handle/123456789/22238 2026-06-02T20:34:30Z 2026-05-27T00:00:00Z

Quantitative easing impact on financial wealth distribution Richard S Hatfield ; Imran Hussain Shah This paper presents a novel two-stage framework to examine the impact of Quantitative Easing (QE) on the distribution of household financial wealth in the UK and the US. In the first stage, robust econometric methods are used to estimate the effect of QE on domestic bond and equity markets via the Portfolio Balance Channel. In the second stage, it documents that equity market returns affect the growth of financial wealth differently cross wealth deciles. It is shown that QE implemented between 2009 and 2012 coincided with a pronounced divergence in financial- wealth outcomes in the United States. During this period, the Top 1% of the financial wealth cohort consistently outperformed aggregate growth in financial wealth, whereas the Bottom 50% experienced persistent relative losses. Importantly, these effects do not self-correct after QE ends, suggesting that QE-induced wealth redistribution may be long-lasting. The UK exhibits similar patterns, though data limitations restrict the strength of causal inference. The paper contributes to the existing literature in three ways. First, it provides a transparent two-stage framework that clarifies the sequential link between QE, asset prices, and the distribution of financial wealth. Second, it shows that commonly used aggregate inequality measures can mask substantial distributional shifts concentrated at the top of the wealth distribution. Third, it demonstrates that the policy relevance of wealth-distribution effects is a potentially important yet under- acknowledged side effect of unconventional monetary policy.

2026-05-27T00:00:00Z Can-Zhong Yao ;Hao Jiang https://bibliotecadigital.bcb.gob.bo/xmlui/handle/123456789/22237 2026-06-02T20:29:34Z 2026-05-05T00:00:00Z

Scale-dependent capital flows and systemic risk: Multifractal evidence from Mainland China–Hong Kong Stock Connect Can-Zhong Yao ;Hao Jiang This study examines the multifractal and asymmetric dynamics of cross-border capital flows under the Mainland China–Hong Kong Stock Connect system. Using asymmetric MF-DFA and MF-DCCA on daily data from 2016 to 2024, we document nonlinear scaling, directional asymmetry, and scale-dependent patterns in both capital flows and market returns. The results reveal a contrast between price dynamics and capital flows across market conditions: while return series tend to exhibit more compressed multifractal spectra in downward states, capital flows and their cross-market interactions display broader spectra, indicating greater dispersion in scaling behavior. In addition, differences between Northbound and Southbound channels suggest heterogeneous flow–return interactions across regimes and scales. These findings are robust across alternative detrending methods, and are further supported by shuffled and surrogate data diagnostics. Overall, the results highlight the importance of scale-dependent perspectives in understanding the interaction between capital flows and market dynamics in partially integrated financial systems

2026-05-05T00:00:00Z Yunping Hao a , Wei Zhao https://bibliotecadigital.bcb.gob.bo/xmlui/handle/123456789/22234 2026-06-02T20:18:36Z 2026-05-01T00:00:00Z

Digital financial usage and agricultural scale operation performance in China Yunping Hao a , Wei Zhao This study utilizes the 2019 China Household Finance Survey (CHFS) dataset to investigate the impact and mechanism of digital financial usage on agricultural-scale business performance using the Ordinary Least Squares (OLS) method. The empirical analysis reveals that the utilization of digital financial usage positively contributes to the enhancement of agricultural-scale business performance. Specifically, for each average increase of one standard deviation in digital financial usage, agricultural-scale business performance improves by 0.674 percentage points. This positive relationship holds true across all quartiles, indicating that digital financial usage consistently enhances agricultural-scale business performance. The findings suggest that digital financial usage has a more pronounced effect on improving agricultural-scale business performance in rural regions while also demonstrating inclusiveness in the Midwest region. This study identifies that digital financial usage improves agricultural-scale business performance by fostering higher levels of asset allocation satisfaction and increasing relative income. Asset allocation satisfaction and relative income serve as significant channels through which digital financial usage enhances agricultural-scale business performance. The findings provide valuable insights for guiding agricultural-scale operations, facilitating agricultural modernization, and promoting rural revitalization.

2026-05-01T00:00:00Z