Does Green Finance Increase Local Government Attention to the Digital Economy?Based on Policy Text Analysis
Based on the theory of scarce attention among decision-makers with limited rationality,the changes in local government policies are contingent upon the changes in the attention of local governments.Conversely,is the change in the attention of local governments contingent upon the changes in other relevant policies?This paper mined policy textual data of local governments in 30 provinces and municipalities from 2019 to 2021.It used word frequencies in the text to reflect the"attention"of local governments devoted to the digital economy.The fsQCA method was applied to investigate whether the development of green finance prompted local governments to allocate high attention to the digital economy.The research findings are as follows:(1)Local governments exhibit regional variations in their attention to the digital economy,with a stronger focus in the south compared to the north.(2)When green investments or green support experiences growth,local governments utilize digital technology to monitor and assess the effectiveness of environmental projects,thereby promoting environmental protection and pollution control,and driving their increased attention to the digital economy.(3)When green bonds and green funds develop simultaneously as financing tools,they effectively assist tangible businesses in securing funding,contributing to"dual carbon"efforts.However,due to their public goods nature,it is challenging for these instruments to directly reflect in corporate profits.Furthermore,the digital tools employed by green bonds and green funds are limited,making it difficult to garner high attention.(4)When various aspects of green finance are underdeveloped,only the development of green bonds and green equity is insufficient to mobilize the necessary digital technology,and it does not lead to a higher allocation of attention from local governments to the digital economy.In summary,analyzing whether green finance has helped local governments invest attention in the digital economy is of great significance for exploring the path of coordinated development between green finance and the digital economy.
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万方数据
