Green innovation in enterprises is the core driving force for adapting to the development needs of the new era and promoting high-quality economic development.Based on micro-macro matching data of enterpri-ses and cities from 2011 to 2021,this article examines the impact of local government debt on enterprise green innovation and its operating mechanism,and analyzes the regulatory effect of digital finance.The research find-ings indicate that government debt has a remarkably negative impact on the level of enterprise green innovation,with a stronger inhibitory effect on non-state-owned enterprises and enterprises in the eastern region.Digital fi-nance weakens the crowding-out effect of government debt on enterprise green innovation.Mechanism analysis reveals that government debt inhibits enterprise green innovation by increasing corporate financing constraints and reducing investments on researches and development.
NETL
NSTL
万方数据
