Impact of Green Credit on Digital Economy Growth Under Marketization: Pathways and Mechanisms

Green credit has a profound and multifaceted impact on the digital economy. As a key driver, it provides financial support, fosters innovation, stimulates green investment, and enhances environmental sustainability. Using provincial data from China, this study applies fixed-effects, moderation-effect, and threshold-effect models to explore the relationship between green credit and the digital economy. The findings reveal that (1) green credit significantly boosts digital economic growth. Even after addressing endogeneity concerns, its positive influence remains strong. (2) Marketization conditions shape this relationship, with product market development weakening the effect while factor market development strengthens it. (3) Within a marketization framework, green credit drives digital economic expansion, with moderate marketization maximizing its effectiveness. These insights contribute to the high-quality development of regional digital economies.