绿色金融降低了中国城市二氧化碳的排放强度吗?——基于264个地级及以上城市的实证研究  

Does Green Finance Contribute to the Reduction of Cities' Carbon Emission Density? Based on the Empirical Study of 264 Cities at and Above the Prefecture Level

作　　者：肖晓军[1] 胡明琪 XIAO Xiaojun;HU Mingqi(School of Economics and Management,Gannan Normal University,Ganzhou Jiangxi 341000,China)

机构地区：[1]赣南师范大学经济管理学院,江西赣州341000

出　　处：《金融理论与教学》2023年第6期20-28,共9页Finance Theory and Teaching

基　　金：江西省教育厅科技项目“‘双碳’目标下我国绿色金融的激励约束机制创新与构建研究”(GJJ211434)阶段成果。

摘　　要：碳排放强度是连接经济增长和绿色低碳的桥梁,因而探究绿色金融对碳排放强度的影响具有重要的实践意义。基于中国2013—2021年264个地级及以上城市的面板数据,运用固定效应、面板门槛以及中介效应模型实证研究了绿色金融对CO_(2)排放强度的影响效应及机制。结果发现:绿色金融能够显著地降低城市碳排放强度,多种稳健性检验后发现上述结论依然成立,但在不同地区城市、不同资源类型城市、不同规模大小城市,绿色金融的碳减排效果存在异质性;并且绿色金融降低碳排放强度的作用效应存在非线性特征;进一步的作用机制研究发现,绿色金融促进碳排放强度降低的三条间接渠道中,只有产业结构绿色化升级、能源结构清洁化升级显著,而绿色技术创新渠道还不显著,其中产业结构绿色化升级是主渠道。最后提出了发展绿色金融,降低碳排放强度的政策建议。Carbon emission intensity is a bridge between economic growth and green low-carbon,so it is of great practical significance to explore the impact of green finance on carbon emission intensity.Based on the panel data of 264 cities at and above the prefecture level in China from 2013 to 2021,the paper empirically investigates the effects and mechanisms of green finance on CO2 emission intensity by using fixed effect,panel threshold and mediation effect models.The results show that green finance can significantly reduce urban carbon emission intensity,and the above conclusions are still valid after various robustness tests,but there is heterogeneity in the carbon emission reduction effect of green finance in the cities of different regions,different resource types,and different scales and sizes;and there is a non-linear characteristic in the effect of green finance to reduce the carbon emission intensity;and further research on the mechanism of the role of green finance show that among the three indirect channels of green finance to promote the reduction of carbon emission intensity,only the greening and upgrading of industrial structure and the cleaning and upgrading of energy structure are significant,while the channel of green technological innovation is not yet significant,in which the greening and upgrading of industrial structure is the main channel.Finally,the paper puts forward some policy suggestions on developing green finance and reducing carbon emission intensity.

关 键 词：绿色金融 二氧化碳排放强度 中介效应 城市 

分 类 号：F822.2[经济管理—财政学]