绿色金融对低碳经济的非线性影响与区域异质性分析  

Nonlinear Impact of Green Finance on Low-Carbon Economy and Regional Heterogeneity of the Impact

作　　者：蒋润南 金成晓[2] 赵宇 JIANG Runnan;JIN Chengxiao;ZHAO Yu(School of Business and Management,Jilin University,Changchun Jilin 130012;Center for Quantitative Economics,Jilin University,Changchun Jilin 130012;School of Finance,Changchun University of Finance and Economics,Changchun Jilin 130122)

机构地区：[1]吉林大学商学与管理学院,吉林长春130012 [2]吉林大学数量经济研究中心,吉林长春130012 [3]长春财经学院金融学院,吉林长春130122

出　　处：《经济纵横》2025年第3期116-128,共13页Economic Review Journal

基　　金：广东省哲学社会科学规划项目“跨周期视域下财政、货币政策协调联动机制与福利损失研究”(编号:GD23XYJ51)的成果。

摘　　要：在加紧经济社会发展全面绿色转型过程中,绿色金融成为低碳经济发展的重要支撑。本文选取2010—2022年中国30个省份面板数据,实证检验了绿色金融对低碳经济的非线性影响。结果表明,绿色金融与低碳经济之间呈现显著的“U”型关系;绿色金融对低碳经济的影响呈现阶段性特征,当绿色金融发展水平低于门槛值时将抑制低碳经济发展,而当其超过门槛值时则会促进低碳经济发展。基于地理位置、经济基础、人口规模和资源禀赋对我国各省份进行区域划分后发现,绿色金融对低碳经济的非线性影响具有明显的区域异质性。因此,应依据不同区域绿色金融的实际发展水平,灵活调整发展策略与力度,充分激发绿色金融在推动低碳经济发展方面的积极作用。Green finance has become a pillar for the development of low-carbon economy in the process of accelerating the comprehensive green transformation of economic and social development.Based on the panel data from 30 provinces in China from 2010 to 2022,this article empirically tests the nonlinear impact of green finance on low-carbon economy.The results show a significant U-shaped relationship between green finance and low-carbon economy.The impact of green finance on low-carbon economy presents phased characteristics.Green finance inhibits the development of low-carbon economy when its development level is below the threshold,while it will promote the development of low-carbon economy when its development level exceeds the threshold.After regional division of provinces in China based on geographical location,economic foundation,population size,and resource endowment,the nonlinear impact of green finance on low-carbon economy demonstrates significant regional heterogeneity.According to the results,development strategies and efforts should be flexibly adjusted based on the actual development levels of green finance in different regions to fully stimulate the positive role of green finance in fueling the development of low-carbon economy.

关 键 词：绿色金融 低碳经济 非线性模型 异质性分析 

分 类 号：F832[经济管理—金融学]