Effective Government,Financial Guidance and Carbon Reduction——Evidence from the Green Government Guidance Fund
The combination of a promising government and an effective market is an important mean to achieve carbon peak and car-bon neutrality.As typical policy finance,government guided funds are important tools to guide capital flow and maximize local gov-ernment financial resources.On the basis of theoretical analysis,this article uses the double difference method to test the role of gov-ernment guided funds guided by green transformation in energy conservation and emission reduction.Research has found that cities that establish green government guidance funds significantly reduce carbon emissions in their respective regions.Further mechanism research has shown that green government guidance funds reduce carbon emissions at the macro level through industrial greening,technological decarbonization,energy cleanliness,and local government financial expansion.At the micro level,they promote enter-prise innovation,reduce enterprise management costs,and improve fund management mechanisms to achieve carbon reduction ef-fects.The heterogeneity test results show that green government guidance funds established in central and western cities with under-developed carbon finance,as well as high-level administrative cities with good financial and administrative capabilities,are more conducive to reducing carbon emissions.Therefore,in order to achieve peak carbon emissions,it is necessary to further expand the establishment and implementation of green government guidance funds,especially in cities with underdeveloped carbon finance and strong financial capabilities,and guide social capital to gather in green and low-carbon industries that save energy and reduce emis-sions.
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