Resilience evaluation and spatio-temporal evolution analysis of China's energy financial system

Accelerating the planning and construction of a new energy financial system is of great significance for ensuring national energy financial security, promoting high-quality energy development, and facilitating the green transition across various regions. This paper constructs an evaluation index of the energy financial system resilience from four dimensions: resistance, adaptability, recovery, and learnability. Using relevant panel data from 30 provinces in China from 2011 to 2020, the resilience of regional energy financial systems is measured through the entropy weight-TOPSIS model. The spatial and temporal evolution characteristics of the resilience are revealed through spatial autocorrelation, empirical orthogonal functions, and kernel density estimation. The Theil index is employed to analyze resilience disparities among four major economic zones and among provinces within these zones. The paper indicates that the China's energy financial system resilience is generally unbalanced and exhibits positive spatial correlation. Overall resilience is on a declining trend, although some provinces show relatively rapid resilience growth. Regional disparities are the primary cause of the overall differences. These results have significant theoretical and practical value for guiding regions to implement differentiated development strategies based on their actual conditions and for enhancing the resilience of energy financial systems.