Spatial spillover effect of the symbiosis of green innovation and green financial support
Green innovation and green finance are the dual engines of low-carbon strategy,exerting a significant impact on China's achievement of the'dual carbon'strategic goals.This study,based on the background of China's low-carbon city pilot policy,utilized a symbiosis model to measure the symbiosis levels of various low-carbon cities from 2004 to 2019.It employed a spatial Durbin model to investigate the direct effects and spatial spillover effects of different green financial supports on corporate green innovation before and after the implementation of the low-carbon city pilot policy.The results indicated that:① After the implementation of the low-carbon city pilot policy,the symbiosis levels of most low-carbon cities improved.Policy,banking,insurance,and carbon financial support with-in low-carbon cities could all promote corporate green innovation.② After the implementation of the low-carbon city pilot policy,posi-tive spatial spillover effects were observed between low-carbon cities in terms of policy,bond,and fund industry financial support.How-ever,the spatial spillover effects of the policy financial support slightly decreased,while the carbon financial support showed negative spatial spillover effects.③ Mechanism and economic consequence tests revealed that green financial support promoted corporate green innovation by increasing the R&D intensity of low-carbon cities,thereby enhancing the innovation level of urban green industries.Therefore,at this critical juncture for China to achieve its'dual carbon'strategic goals,there is a need to enhance the driving role of green financial support for corporate green innovation.On the one hand,various low-carbon cities should establish a diversified green fi-nancial system,continuously innovate green financial products,and expand the financing channels for corporate green innovation.On the other hand,these cities should strengthen green technology innovation exchanges among enterprises and promote the reform of tech-nology ownership rights,thereby facilitating the market-oriented application of green innovation achievements and breaking down pro-vincial barriers to green technology innovation.
green innovationgreen financial supportsymbiotic levelspatial spillover effect
国家科技期刊平台
NSTL
万方数据
