Driving Effect of Energy Consumption and Financial Support on Green Innovation in Manufacturing Industry
At present,the global energy development is faced with unstable factors such as uncoordinated supply and demand structure,low utilization rate of environmental resources,etc.Focusing on the needs of energy consumption and technological upgrading for high-quality development of the manufacturing industry,the financial sector is actively innovating to increase the supply of financial services,driving the green and low-carbon innovation of the manufacturing industry,and facilitating the green,low-carbon and high-quality development of the manufacturing industry.On the basis,panel data of Chinese manufacturing industry is constructed from 2010 to 2019,and the driving effect of energy consumption level,financial support and their interaction on green innovation in manufacturing industry are tested by establishing a fixed-effect econometric model and introducing stochastic frontier analysis method.The empirical results show that energy consumption has a negative effect on the green innovation of manufacturing industry,and increasing financial support is conducive to the green development of manufacturing industry.The level of energy consumption and financial support can promote the green innovation of manufacturing industry through interaction.Under the background of"double carbon"target,consumption upgrading and industrial upgrading have accelerated the pace of green revolution in manufacturing industry.In addition,foreign investment and effective government intervention also promote the green transformation of manufacturing industry to a certain extent.Finally,the following countermeasures and suggestions are put forward:Firstly,the manufacturing industry should seriously implement the green innovation concept and deeply integrate into the green development pattern;Secondly,the banking industry and other financial institutions should be encouraged to continue increasing their support for green financing in the manufacturing industry and continuously improve risk identification and control measures;Finally,the government should correctly play the role of macro-control,improve the quality of decision-making and reduce decision-making.
energy consumption levelfinancial supportmanufacturing industrygreen innovationindustrial upgradeconsumption upgrade
NETL
NSTL
万方数据
