北京邮电大学学报(社会科学版) ›› 2021, Vol. 23 ›› Issue (1): 69-79.doi: 10.19722/j.cnki.1008-7729.2020.0103

• 经济与管理 • 上一篇    下一篇

绿色金融能否提高绿色全要素生产率?

曾玲玲(1974—),女,四川南溪人,博士,副教授   

  1. 武汉理工大学 经济学院,湖北 武汉430070
  • 收稿日期:2020-05-10 出版日期:2021-02-28 发布日期:2021-03-07
  • 通讯作者: 曾玲玲(1974—),女,四川南溪人,博士,副教授
  • 作者简介:曾玲玲(1974—),女,四川南溪人,博士,副教授

Can Green Finance Improve Green Total Factor Productivity?

  1. School of Economics, Wuhan University of Technology, Wuhan 430070, China
  • Received:2020-05-10 Online:2021-02-28 Published:2021-03-07

摘要: 在分析绿色金融影响绿色全要素生产率理论机理的基础上,结合中国2005—2017年30个省级行政区的面板数据,运用SBM(Slack-based Measure)方向性距离函数和GML(Global Malmquist-Luenberger)指数估算出绿色全要素生产率,构建绿色金融指标体系,并运用熵值法测算出绿色金融的发展水平。然后,采用静态IV-GMM回归模型和中介效应模型系统考察绿色金融对绿色全要素生产率的影响及作用机制。估算结果显示:中国绿色金融整体仍处于较低的发展水平,绿色全要素生产率整体呈现增长态势,两者都表现出很大省际和区域差异。回归结果表明:绿色金融能够显著促进全国、沿海以及内陆地区的绿色全要素生产率增长,但对沿海区域的促进作用更大。中介效应检验结果表明:对全国而言,产业结构优化、节能减排和绿色技术创新的中介效应均显著;对沿海地区和内陆地区而言,只有节能减排和绿色技术创新的中介效应显著。


关键词: 绿色金融, 绿色全要素生产率, 静态IV-GMM, 中介效应检验

Abstract: The theoretical mechanism of green finance affecting green total factor productivity (TFP) is analyzed, and then based on the panel data of 30 provinces and cities in China from 2005 to 2017, green TFP is estimated by using SBM(Slack-based Measure) directional distance function and Global Malmquist-Luenberger (GML) index, and a green financial index system is constructed and the development level of green finance is estimated by using entropy method. Then, the static IV-GMM regression model and mediation effect model are used to systematically investigate the impact of green finance on green TFP and its mechanism. The results show that Chinas green finance is still at a relatively low level of development while green TFP shows the trend of growth, and both of them show great provincial and regional differences. The regression results show that the development of green finance can significantly promote the growth of green TFP in both coastal and inland areas and the whole country, but it plays a greater role in promoting coastal areas. The mediation effect test results show that for the whole country, the mediation effect of industrial structure optimization, energy saving and emission reduction and green technology innovation is significant, while only the mediation effect of energy saving and emission reduction and green technology innovation is significant in coastal and inland areas.


Key words:  green finance, green total factor productivity, static IV-GMM, mediation effect test

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