2026/07/27 by Kai-Hua Wang, Han-Dong Zhou, X Wang +2
Business, Management and Accounting · Computer Science · Economics, Econometrics and Finance · #Advanced Technologies in Various Fields #FinTech, Crowdfunding, Digital Finance #Sustainable Finance and Green Bonds
paper · doi:10.1016/j.iref.2026.105674
openalex publication_date 2026/07/27 · openalex created_date 2026/07/28 · openalex updated_date 2026/08/01
In this study, we examined the causal relationship between artificial intelligence (AI) and green finance (GF) in China using the rolling window causality test. Empirical results revealed a bidirectional relationship between AI and GF across different subperiods. Breakthroughs in AI and supportive policies have promoted its application in GF, but these effects are disrupted by external shocks. Conversely, GF exerts both positive and negative effects on AI development; supportive central bank policies attract social capital toward green AI, yet stagnation in GF innovation reduces its capacity to integrate AI applications, thereby imposing constraints. This study contributes by extending theoretical frameworks linking digital technology and GF by revealing time-varying causality in the context of developing green bond markets, COVID-19, and macroeconomic fluctuations. Policymakers should develop adaptive, AI-enabled policy frameworks, financial institutions need to innovate green financial instruments, and tech enterprises must advance the research and development of “Green AI”.