Based on ISM-MICMAC, a study was conducted to identify the barriers to green finance promotion in less developed regions

Abstract

It is particularly important to study the impediments to the promotion of green finance in less developed regions to help promote the promotion of green finance. Through literature analysis, case studies and expert interviews, this paper thoroughly explores thirteen impediments to green finance promotion in less developed regions at four levels, and constructs an explanatory model (ISM) to elucidate the four-level recursive correlations among the factors, and uses the cross-influence matrix multiplication method (MICMAC) to study the driving forces and dependencies of these various factors, as well as their interaction mechanisms. The results show that: backward corporate awareness and green finance policies are the bottom-level factors that are barriers to the diffusion of green finance in less developed regions, with the new crown pneumonia epidemic, government finance and financing costs having various degrees of influence.