Climate Risk and Risk‐Taking of Rural Financial Institutions in China
基于2011-2021年279家农村金融机构的数据，研究发现气候风险显著增加了农村金融机构的风险承担，农业经济发展在其中起中介作用，且该影响在气候政策不确定性高、政府环保支出大及北方地区的机构中更明显。
ABSTRACT The research identifies the impact of climate risk on the risk‐taking of rural financial institutions in China and its mechanism, using 279 rural financial institutions from 2011 to 2021 as the research sample. Results show that climate risk significantly increases the risk‐taking of rural financial institutions, and agricultural economic development plays a mediating effect in the impact of climate risk on the risk‐taking of rural financial institutions. The impact of climate risk on the risk‐taking of rural financial institutions in China is more pronounced among financial institutions that have higher climate policy uncertainty and larger government environmental expenditures. Finally, the impact of climate risk on the risk‐taking of rural financial institutions in northern China is greater than that in southern China.