The Mechanism and Path of Finance Promoting the Development of Low Carbon Economy

Jin Li
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Abstract

Abstract Promoting the development of low-carbon economy (LCEco) to protect the environment is an important dimension to enhance national competitiveness and an effective path to achieve high-quality national development. Therefore, based on the endogenous LCEco growth theory, from the two dimensions of financial technology innovation (FTI) and financial product innovation (FPI), using the spatial measurement method of SLM and SEM, using the panel data of 30 provinces (municipalities and autonomous regions) from 2009 to 2021, this paper deeply explores the impact of FTI and FPI on the development of LCEco. The results show that: FTI and FPI have synergistic effect and positive spatial spillover effect on the LCEco, whose elastic coefficients for them are respectively (–0.125, p < 0.05; –0.084, p < 0.05). Different regions have obvious heterogeneous effects on the FTI, FPI and LCEco, whose elastic coefficients for them are (0.318, p < 0.05; 0.332, p < 0.05). The conclusion not only provides empirical support for the endogenous LCEco growth theory, but also provides effective evidence for the high-quality development path of China’s LCEco.
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金融促进低碳经济发展的机制与路径
推动低碳经济发展以保护环境,是提升国家竞争力的重要维度,也是实现国家高质量发展的有效途径。因此,本文基于内生的LCEco增长理论,从金融技术创新(FTI)和金融产品创新(FPI)两个维度出发,采用SLM和SEM的空间测量方法,利用2009 - 2021年30个省(市、自治区)的面板数据,深入探讨了FTI和FPI对LCEco发展的影响。结果表明:FTI和FPI对LCEco具有协同效应和正向空间溢出效应,两者的弹性系数分别为(-0.125,p < 0.05;-0.084, p < 0.05)。不同地区对FTI、FPI和LCEco的弹性系数均为(0.318,p < 0.05;0.332, p < 0.05)。这一结论不仅为LCEco内生增长理论提供了实证支持,也为中国LCEco的高质量发展路径提供了有效证据。
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