Green innovation effect of green fiscal demonstration policy:From the perspective of multiple pressure constraints
It is a characteristic innovation of China's fiscal environmental governance to le-verage local supporting facilities and enterprise capital investment with project demonstration and form local environmental governance forces.Taking the national comprehensive demon-stration city of energy saving and emission reduction fiscal policy as the natural experiment,the green innovation effect and multiple pressure constraint mechanism of green fiscal dem-onstration policy were investigated by using the Difference-in-Difference(DID)method.The results showed that:(1)The construction of demonstration cities significantly promoted the innovation of urban green technology,showing the"leverage"effect of green fiscal demon-stration policy.(2)The green fiscal demonstration policy can optimize the incentive behavior of local governments in environmental governance,and promote green technology innovation through mechanisms such as emphasizing the environmental importance of local govern-ments,increasing local supporting environmental protection financial funds and strengthen-ing environmental regulation.(3)From the perspective of multiple pressure constraints faced by local governments,financial pressure and official promotion and assessment pressure weaken the incentive effect of green fiscal demonstration policy,while public demand pres-sure helps to strengthen the effect of policy.(4)The model policy has a stronger incentive ef-fect on green innovation in areas with higher fiscal transparency and cities with non-resource-based and old industrial bases.The research results have certain reference significance for op-timizing green fiscal demonstration policy in the New Era,promoting the construction of green finance coordination mechanism compatible with local finance,and promoting the real-ization of"double carbon"goal and high-quality development.
green fiscal demonstration policynational comprehensive demonstration city of energy saving and emission reduction fiscal policygreen innovationmultiple pressure con-straint
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