Study on the Impact of Green Finance Reform and Innovation Pilot Zone Policies on Green Total Factor Productivity
Green finance is an important starting point to promote economic transformation and development,and improving green total factor produc-tivity is the fundamental way to achieve a win-win situation of economic growth and environmental protection.Utilizing the provincial panel data from 2005 to 2021 encompassing 30 provinces,municipalities,and autonomous regions in China,this study employs the SBM-GML index method to estimate the green total factor productivity for each administrative unit.Furthermore,it delves into the influence of green financial reform and innova-tion pilot zone policies on regional green total factor productivity,as well as their underlying transmission mechanisms,through the application of the Difference-in-Difference(DID)model and the Synthetic Control Method(SCM).The findings reveal that,following the enactment of green fi-nance policy,the green total factor productivity of 30 provinces,cities,and autonomous regions in China exhibited an upward trend from 2005 to 2021.The implementation of green finance reform and innovation pilot zone policies exert a notable influence on enhancing the regional green total factor productivity.Technological innovation performs a crucial mediating function,bridging the gap between policies enacted in green finance reform and innovation pilot zones and their subsequent influence on green total factor productivity;The study finds that the effects of green financial reform and innovation pilot zone policies have obvious regional heterogeneity.This study provides empirical evidence and policy insights for China to further improve its green financial policy system.
green finance reform and innovation pilot zonegreen total factor productivitydifference-difference modelsynthetic control method
万方数据
维普
