政策推动还是市场驱动?--基于文本挖掘技术的绿色金融发展指数计算及影响因素分析  

Policy-driven or Market-driven?--Calculation of Green Finance Development Index and Analysis of Influencing Factors Based on Text Mining Technology

作　　者：中国人民银行贵阳中心支行青年课题组 任丹妮 李良元 邵骏 封明川 蒋昕 石实 尹继东 Research Group of GuiYang Branch,PBOC

机构地区：[1]不详

出　　处：《西南金融》2020年第4期78-89,共12页Southwest Finance

摘　　要：本文运用文本挖掘法测算了2012~2017年全国31个省市区绿色金融发展指数水平,在此基础之上,首次较为全面地检验了政策推动、金融发展、生态环境和经济基础四大类因素对各地绿色金融发展水平的影响,并分别对2012~2014年、2015~2017年两个时间段子样本,以及东、中、西部三个区域子样本进行了进一步检验。实证结果表明:从全国来看,地方专门政策和金融发展水平是推动我国各地绿色金融发展的关键变量,但金融发展水平的影响并不稳定,且有赖于地方政策的实施;从时间上看,金融发展水平和地方政策推动分别是2015年前后我国各地绿色金融发展的主要影响因素,2015年后政策的出台进一步增强了金融发展对绿色金融的推动作用;分区域看,由金融发展水平主导的、自下而上的绿色金融创新在东部地区更为活跃,而西部地区则更有赖于地方政策主导的、自上而下的支持。This paper uses the text mining method to calculate the green financial development index levels of 31 provinces and municipalities in China from 2012 to 2017. Based on this, this article for the first time comprehensively testes the impact of four major factors of policy promotion, financial development, ecological environment, and economic foundation on the level of green finance development in each region, and the sub-samples for the two time periods from 2012 to 2014 and 2015 to 2017, as well as the sub-samples for the three regions of the east, central and western regions, are further tested. The empirical results show that: nationally, local special policies and financial development levels are the key variables to promote the development of green finance in various parts of China, but the impacts of financial development levels are not stable and depend on the implementation of local policies. From the perspective of time, the level of financial development and the promotion of local policies are the main influencing factors of green finance development in various parts of China around 2015. The introduction of policies after 2015 has further enhanced the role of financial development in promoting green finance. In terms of regions, the bottomup green finance innovation driven by financial innovation is more active in the eastern region, while the western region is more dependent on local policy-led and top-down support.

关 键 词：绿色金融 绿色金融发展指数 金融发展 政策推动 市场驱动 环境金融 绿色信贷 绿色债券 绿色评级 绿色产业 金融创新 绿色发展 

分 类 号：F062.2[经济管理—政治经济学] F820