The Impact of Real Estate Investment on Green Innovation
This paper selects panel data of 285 prefecture-level cities,empirically analyzes the impact of real estate investment on local green innovation and its heterogeneity characteristics from the perspective of credit intermediation effect,and further tests it from the spatial dimension.The article finds that excessive real estate investment inhibits the development of local green innova-tion,and the effect is more significant in the eastern region and large cities.Excessive real estate investment also affects the level of local credit,forming a"crowding out effect"on the financial factors needed for innovation,thus further inhibiting the develop-ment of local green innovation,and the above impacts and mechanisms still hold after spatial testing.This paper provides new empirical evidence to identify the impact of real estate investment on greening,and helps to deepen the understanding of how ex-cessive real estate investment affects resource allocation efficiency.
Real estate investmentGreen innovationCredit levelsMediating effects
万方数据
