GREENPREFERENCE,GREENINVESTMENTZhenyuGao,YanLuo,ShuTian,andHaoYangNO.722ADBECONOMICSWORKINGPAPERSERIESApril2024ASIANDEVELOPMENTBANKADBEconomicsWorkingPaperSeriesGreenPreference,GreenInvestmentZhenyuGao,YanLuo,ShuTian,andHaoYangZhenyuGao(gaozhenyu@baf.cuhk.edu.hk)isanNo.722April2024associateprofessoratChineseUniversityofHongKong.YanLuo(luoyan@fudan.edu.cn)isaprofessorandTheADBEconomicsWorkingPaperSeriesHaoYang(17210690042@fudan.edu.cn)isaPhDpresentsresearchinprogresstoelicitcommentscandidateatFudanUniversity.ShuTian(stian@adb.andencouragedebateondevelopmentissuesorg)isasenioreconomistattheEconomicResearchinAsiaandthePacific.TheviewsexpressedandDevelopmentImpactDepartment,AsianarethoseoftheauthorsanddonotnecessarilyDevelopmentBank.reflecttheviewsandpoliciesofADBoritsBoardofGovernorsorthegovernmentstheyrepresent.ASIANDEVELOPMENTBANKCreativeCommonsAttribution3.0IGOlicense(CCBY3.0IGO)©2024AsianDevelopmentBank6ADBAvenue,MandaluyongCity,1550MetroManila,PhilippinesTel+63286324444;Fax+63286362444www.adb.orgSomerightsreserved.Publishedin2024.ISSN2313-6537(print),2313-6545(PDF)PublicationStockNo.WPS240238-2DOI:http://dx.doi.org/10.22617/WPS240238-2TheviewsexpressedinthispublicationarethoseoftheauthorsanddonotnecessarilyreflecttheviewsandpoliciesoftheAsianDevelopmentBank(ADB)oritsBoardofGovernorsorthegovernmentstheyrepr...
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