Empirical analysis shows that green finance boosts supply chain resilience in manufacturing industries, suggesting key pathways through innovation and structural upgrades.
Based on the panel data of 31 provinces in mainland China from 2014 to 2022, the article empirically tests the nonlinear impact of green finance on manufacturing industry supply chain resilience using semiparametric model, and tests the mechanism of green finance's impact on manufacturing industry supply chain resilience using mediation effect model. It is found that: green finance has a significant nonlinear impact on manufacturing industry supply chain resilience, and this conclusion still holds in the endogeneity and robustness test; green finance can affect manufacturing industry supply chain resilience through technological innovation, consumption upgrading, and industrial structure upgrading; and human capital, digital economy, and factor mobility have a moderating effect on the relationship between green finance and manufacturing industry supply chain resilience. Therefore, it is necessary to consolidate the foundation of green finance development and give full play to the role of green finance in enhancing the resilience of the manufacturing industry supply chain.
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Jin Wang (2025) studied this question.
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