Research on the Mechanism of Collaborative Empowerment of Regional Green Development by Green Finance and Digital Economy
The"dual carbon"targets provide strategic guidance for China's economic and social greening transformation.Amidst the rapid development of the digital economy,it is crucial for less developed regions to seize opportunities and promote the coordinated development of green finance and the digital economy,which is significant for China's achievement of green high-quality development.Based on panel data from Chinese provinces during 2011-2021,the fixed effects models and spatial Durbin models are employed to analyze the impact of green finance and the digital economy on regional green development from a synergistic perspective.The research findings indicate that green finance,the digital economy,and their synergistic effects significantly promote regional green development,with the synergistic effect being stronger than the independent effects,confirming the positive interaction between green finance and the digital economy.Moreover,robustness tests validate the conclusion.The realization path of green development exhibits regional differences due to resource endowment and economic development stages.Resource-based regions benefit more from the empowerment of green finance but face challenges in providing the"hard support"required by the digital economy,thus hindering the role of the digital economy and synergistic effects.Green finance,the digital economy,and synergistic effects only significantly promote the greening process in regions at the service stage.Mechanism examination results demonstrate that green finance and the digital economy mutually restrain negative hidden factors through channels such as alleviating credit mismatches and reducing energy intensity,thereby activating substantial potential to empower green development.The digital economy shows evident spatial spillover effects on green development,while the spatial spillover of green finance is less apparent.When green finance collaborates with the digital economy,green finance can leverage the digital economy to overcome geographical constraints,and the digital economy can rely on green finance's funding support for sustainable development,achieving mutual empowerment and promoting interregional green coordinated development.Accordingly,the following strategies and recommendations are proposed:firstly,fully leverage the credit allocation function of green finance and the boundaryless characteristics of the digital economy to accelerate the deep integration of these two major new drivers;Secondly,formulate differentiated regional policies and targeted action plans,strengthen overall planning,and implement green finance and digital economy services for regional green development;Finally,governments should support exchange and cooperation based on environmental protection concepts and technological capabilities,fully unleashing the spatial contribution capabilities of green finance and the digital economy.
green financedigital economygreen developmentsynergistic effectspillover effect
万方数据
维普
