绿色金融与绿色全要素生产率:环境规制调节下的碳减排效应  

Green Finance and Green Total Factor Productivity:Carbon Reduction Effect under Environmental Regulation

作　　者：周亚军[1,2] 陈丰泽 ZHOU Yajun;CHEN Fengze(School of Finance,Xinjiang University of Finance and Economics,Urumqi Xinjiang 830012,China;Xinjiang Fiscal and Finance Collaborative Innovation Research Center,Urumqi Xinjiang 830012,China)

机构地区：[1]新疆财经大学金融学院,新疆乌鲁木齐830012 [2]新疆财政与金融协同创新研究中心,新疆乌鲁木齐830012

出　　处：《生态经济》2023年第8期43-51,共9页Ecological Economy

基　　金：2022年度国家民委民族研究重点课题项目“新发展阶段民族地区融入新发展格局、促进共同富裕重点难点问题研究:以新疆为例”(2022-GMA-011);2022年度新疆社会科学基金项目“新疆葡萄酒全产业链构建的问题与对策研究”(22BJY023);2023年度新疆财经大学研究生科研创新项目“绿色金融与绿色全要素生产率:自愿型环境规制调节下的碳减排效应”(XJUFE2023K016)。

摘　　要：伴随经济快速增长而来的环境污染问题受到社会各界关注,环境与经济的协调发展已成为绿色经济时代的热点话题。基于2014—2020年中国30个省份的数据,构建有调节的中介效应模型,研究结果表明:绿色金融的发展使碳排放强度降低,进而提升绿色全要素生产率,自愿型环境规制对中介效应的前半路径具有调节作用。内生性和稳健性检验也证明了发展绿色金融可以显著促进绿色全要素生产率提升这一结论的可靠性,这一促进效应具有制度环境异质性和区域异质性。基于此,政府要因地制宜地完善绿色金融政策、加大绿色金融市场与碳金融市场的协调配合,同时企业要树立环保意识,引导消费者的环保消费倾向,最终实现生态环境与经济价值的双赢。Environmental pollution accompanied by rapid economic growth has been widely concerned.With the arrival of the era of green economy,the harmonious development of economy and environment has become a hot topic.Based on the data of 30 provinces in China from 2014 to 2020,this paper builds a moderated mediation effect model.The research results show that the development of green finance can reduce carbon emission intensity and promote the improvement of green total factor productivity,and voluntary environmental regulation has a moderating effect on the first half path of the mediation effect.The endogeneity and robustness tests also prove the reliability of the conclusion that the development of green finance can significantly promote the improvement of green total factor productivity,and this promotion effect has institutional environmental heterogeneity and regional heterogeneity.Therefore,the government should improve the green finance policy according to local conditions,and increase the coordination between the green finance market and the carbon finance market.Meanwhile,enterprises should establish the awareness of environmental protection and guide consumers to adopt environment-friendly consumption,so as to achieve the win-win situation of ecological environment and economic value.

关 键 词：绿色金融 绿色全要素生产率 碳排放强度 自愿型环境规制 

分 类 号：F832[经济管理—金融学] F124.5[环境科学与工程—环境科学] X196