政府压力视角下金融发展对绿色经济发展的影响研究  

Research on the Impact of Financial Development on Green Economic Growth from the Perspective of Government Pressure

作　　者：王艳龙[1] 张伟伟 WANG Yan-ong;ZHANG Wei-wei(College of Accounting,Jilin University of Finance and Economics,Changchun 130117;Northeast Asian Research Center,Jilin University,Changchun 130012,China)

机构地区：[1]吉林财经大学会计学院,吉林长春130117 [2]吉林大学东北亚研究中心,吉林长春130012

出　　处：《兰州大学学报(社会科学版)》2024年第5期162-176,共15页Journal of Lanzhou University(Social Sciences)

基　　金：国家社会科学基金重点项目“金融发展对我国绿色经济发展的影响机理研究”(21AJY014);教育部人文社科项目“地区财富水平对企业绿色生产效率的影响研究:基于区域协调发展的视角”(22YJA790063)。

摘　　要：金融体系凭借强大的资源配置能力成为绿色经济发展的重要驱动力量。当地方政府面临财政压力时,金融资源的产业导向将发生变化,金融发展作用于区域绿色经济发展的机制及效果也将受到影响。聚焦于地方政府的财政压力在金融发展作用于绿色经济发展的过程中发挥怎样的作用,通过建立金融发展影响绿色经济发展的基准回归模型、中介效应模型及调节效应模型,利用2011-2021年省级面板数据实证研究发现:金融发展对我国绿色经济发展有显著的正向促进作用;技术创新水平以及城镇化水平在金融发展推动绿色经济发展中均起到中介效应;政府财政压力会抑制金融发展对绿色经济发展的推动作用。异质性分析表明,政府财政压力的加大会抑制教育重视度低以及能源消费结构不合理地区的金融发展对绿色经济发展的作用效果,但对教育重视度高以及能源消费结构合理地区的作用效果并不明显。因此,地方政府应在经济发展与绿色发展之间做好权衡,尽快建立绿色绩效管理考核机制,引导金融机构强化服务绿色经济的金融效率,提升绿色经济的增长绩效。The financial system,with its strong resource allocation capacity,has become an important driver for the development of the green economy.When a local government is under fiscal pressure,the industrial orientation of financial resources will change,and the mechanisms and effects of financial development on regional green economic growth will also be affected.The present paper focuses on the role of the local government’s fiscal pressure played during the process when financial development has impacts on green economic growth.The benchmark regression model,the mediation effect model,and the moderation effect model for financial development’s impact on green economy are constructed and provincial panel data from 2011 to 2021 for empirical research are used in the research.The findings indicate that financial development has a significant positive effect on the development of green economy in China;technological innovation and urbanization both play mediating roles in green economic growth driven by financial development;the government fiscal pressure can inhibit the role of financial development in promoting green economic growth.The heterogeneity analysis further indicates that the increase in government fiscal pressure will inhib-it the effect of financial development on green economic growth in regions with less educational investment and unreasonable energy consumption structures,while it is not significant in regions with high educational investment and reasonable energy consumption structures.Therefore,the local government should strike a balance between economic development and green development by establishing a green performance manage-ment and evaluation system as early as possible.In this way,it can guide financial institutions to strengthen their financial efficiency in serving the green economy,and improve the growth performance of the green economy.

关 键 词：政府财政压力 金融发展 绿色经济发展 资源配置 绩效管理 

分 类 号：F273.1[经济管理—企业管理]