This study investigated the impact of energy transition on regional financial risk by utilizing provincial panel data from China spanning 2011 to 2020.The findings reveal an inverted U-shaped relationship between energy transition and regional financial risk.Furthermore,the transition can affect regional financial risk through the financial leverage effect.Technological in-novation can significantly mitigate the regional financial risk associated with energy transition.Pathway innovation can effectively alleviate financial risks arising from path dependence and vul-nerabilities.A heterogeneity analysis showed that an inverted U-shaped relationship is particular-ly evident in both the eastern and western regions of China.Additionally,the study finds that poli-cy and institutional innovations can further reduce potential regional financial risks during the en-ergy transition.The study's insights offer valuable empirical evidence and policy recommendations to facilitate a smooth and stable energy transition in alignment with China's ambitious dual carbon goals.
关键词
能源结构转型/区域金融风险/经济杠杆/科技创新
Key words
energy transition/regional financial risk/financial leverage/technological innova-tion
维普
万方数据