Fig. 3: Effects of GFPZ policy. | Humanities and Social Sciences Communications

Fig. 3: Effects of GFPZ policy.

From: Can green finance policy promote ecosystem product value realization? Evidence from a quasi-natural experiment in China

Fig. 3

(1) Using the SCM to identify the baseline effect of GFPZ policy. The figures display the ecosystem products value realization trajectory of pilot provinces and its synthetic counterpart; where panels a–e represent Guangdong, Guizhou, Zhejiang, Jiangxi, and Xinjiang, respectively. The location of the vertical dashed line represents the first year of the GFPZ policy, and the solid line indicates the actual trend of change in ecosystem product value realization in different regions, the dotted line represents the trend of change in treated regions. The policy effect could be indicated by the gap between the solid line and the dotted line. (2) GFPZ policy plays a positive role in realizing the value of ecosystem products. GFPZ policy has the greatest effect on Xinjiang and Guizhou, followed by Zhejiang, Guangdong, and Jiangxi. (3) Our baseline results show a positive impact of GFPZ policy on ecosystem product value realization, hypothesis 1 is verified.

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