Digital finance and household carbon emissions in China
基于中国多源数据，研究数字金融对家庭消费碳排放的影响，发现其通过扩大消费规模增加碳排放，但通过促进绿色消费模式减少碳排放，总体规模效应占主导。
Sustained economic growth and environmental degradation are two of the key goals in the SDGs (Sustainable Development Goals). Digital finance provides an opportunity to simultaneously address the trade-off between the two goals. Based on data from CEADs, CNBS, CFPS, IDFPU, VIIRS and NPCGIS, this article examines the causal impact and transmission mechanisms of digital finance on consumption-based HCEs. To address the potential endogeneity, IV and IV-MA as well as HDFE models are applied in empirical estimates. Results show that digital finance has a positive impact on consumption-based HCEs. Mechanism analysis indicates that digital finance can increase HCEs through stimulating consumption scale, which is scale effect. Besides, digital finance can decrease HCEs through promoting greener consumption patterns, which is composition effect. On the whole, scale effect prevails composition effect. Our findings contribute to the literature on digital finance and green finance and have policy implications on common prosperity, not only for China, but also for other economies.