By promoting financial agglomerations to support green development in a region is a keyway for China to resolve the sharp contradiction between economic growth and environmental protection. However, existing research only considered the promotion effect of financial agglomerations on green development, but the spatio-temporal non-stationarity of that effect has been overlooked. Using a panel data of 285 prefecture-level cities in China and based on the evaluation of green development by a Driving-Pressure-State-Impact-Response (DPSIR) model, this paper analyzes the spatial correlation of financial agglomeration on green development. The paper also investigates the differences in the spatio-temporal influence of financial agglomeration on green development from both global and local perspectives by employing a Bivariate Local Indicators of Spatial Association (BLISA) model and a Geographically and Temporally Weighted Regression (GTWR) model. The results indicate that: (1) There exists significant spatial dependency between financial agglomeration and green development from 2003 to 2015, with Low-Low (L-L) and Low-High (L-H) spatial clusters as the main cluster types. (2) From the local perspective, the promoting effect of financial agglomerations on green development has showed significant spatial heterogeneity with a gradually decreasing trend from the southeast coast to the northwest inland of China. This work can help to develop policies for supporting green development by formulating differential strategies for financial agglomerations.

Developing high-quality manufacturing industries and realizing green transformation are relatively pressing issues in the 21st century. Existing studies only focus on the economic or environmental effects of agglomeration, and the combined effects of manufacturing agglomeration have been neglected. Therefore, by referring to industrial agglomeration theory and constructing a theoretical analytical framework for manufacturing agglomeration and green development, this paper adopts the spatial panel Durbin model and mediating effect model with the panel data from China’s Yangtze River Economic Belt to empirically test the influence and its mechanism of manufacturing agglomeration on green development. The results show that: (1) There are significant temporal and spatial differences in green development in the Yangtze River Economic Belt. Overall, green development has maintained a steady increase on the timeline, but each region shows a hierarchical structure of “multiple peaks-multiple centers”. (2) There is a typical inverted U-shaped relationship between manufacturing agglomeration and green development, and the linear and quadratic coefficients of manufacturing agglomeration are −0.585 and −0.167, respectively. (3) Under the constraints of temporal, spatial, and urban heterogeneity, the impacts of manufacturing agglomeration on green development show significant differences. (4) Manufacturing agglomeration affects green development through three paths: the labor force upgrading effect, industrial structure upgrading effect, and technological innovation effect. The study can provide a theoretical and empirical basis for the green development of developing countries around the world.