绿色债券与城市绿色转型:特征、机制与经验证据  

Green bonds and urban green transformation:characteristics,mechanisms and empirical evidence

作　　者：庄汝龙 陆棒棒 于雪洁 杨洁 宓科娜 ZHUANG Rulong;LU Bangbang;YU Xuejie;YANG Jie;MI Kena(Business School,Ningbo University,Ningbo Zhejiang 315211;College of International Economics&Trade,Ningbo University of Finance&Economics,Ningbo Zhejiang 315175)

机构地区：[1]宁波大学商学院,浙江宁波315211 [2]宁波财经学院国际经济与贸易学院,浙江宁波315175

出　　处：《环境污染与防治》2025年第4期137-144,I0008,共9页Environmental Pollution & Control

基　　金：宁波大学龙元建筑金融研究院年度课题(No.LYZDB2303);宁波大学研究生科研创新项目(No.IF2024006)。

摘　　要：兼具经济效益和环境效益特性的绿色债券日渐成为促进城市绿色转型的有效途径。在此背景下,以2016—2021年111个城市为研究样本,深入探究绿色债券影响城市绿色转型的内在机理。结果表明:绿色债券能有效助力城市绿色转型,且在东部、市场化较高以及强环境规制的地区更为明显。此外,绿色债券能够通过提升绿色技术创新水平、带动产业结构升级以及提高政府环境关注度3条路径间接推动城市绿色转型,最后基于研究结果提出相应对策建议。Green bonds,which offer both economic and environmental benefits,have increasingly become an effective tool for promoting urban green transformation.Against this backdrop,this paper examined the underlying mechanisms through which green bonds influence urban green transformation,using samples of 111 cities from 2016 to 2021.The results indicated that green bonds significantly support urban green transformation,with more pronounced effects in Eastern regions,areas with higher levels of marketization,and regions with stronger environmental regulations.Additionally,green bonds indirectly promote urban green transformation through three key pathways:enhancing green technological innovation,driving industrial structure upgrading and increasing government environmental concerns.Based on these findings,this paper proposed corresponding policy recommendations.

关 键 词：绿色债券 城市绿色转型 绿色技术创新 产业结构升级 政府环境关注度 

分 类 号：F812.5[经济管理—财政学]