Song Nie , Gang Zeng , Hongying Zhang , Jianwen Ji
{"title":"地方政府财政压力对绿色全要素生产率的影响:从政府行为的角度探索机制","authors":"Song Nie , Gang Zeng , Hongying Zhang , Jianwen Ji","doi":"10.1016/j.iref.2024.103702","DOIUrl":null,"url":null,"abstract":"<div><div>Local government fiscal pressure can change government behavior, which in turn affects corporate performance to a certain extent. However, the research on how fiscal pressure affect green economy is scarce. We adopt the city-level green total factor productivity (GTFP) index to measure the green economy in China and verifies fiscal pressure's negative effect on GTFP from the new perspective of government behavior. We find that fiscal pressure reduces GTFP by leading to short-sighted government actions which inhibit the industrial upgrading and reduce green innovation capacity. In addition, the negative impact varies heterogeneously with different economic development and geographic location. Furthermore, green finance, slight tax burden, and fiscal decentralization can alleviate the negative impact of fiscal pressure on GTFP. This study not only provides guidance on fiscal governance, but also provides a reference for the synergistic promotion of environmental governance and economic development in developing countries.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":null,"pages":null},"PeriodicalIF":4.8000,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The local government fiscal pressure's effect on green total factor productivity: Exploring mechanisms from the perspective of government behavior\",\"authors\":\"Song Nie , Gang Zeng , Hongying Zhang , Jianwen Ji\",\"doi\":\"10.1016/j.iref.2024.103702\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>Local government fiscal pressure can change government behavior, which in turn affects corporate performance to a certain extent. However, the research on how fiscal pressure affect green economy is scarce. We adopt the city-level green total factor productivity (GTFP) index to measure the green economy in China and verifies fiscal pressure's negative effect on GTFP from the new perspective of government behavior. We find that fiscal pressure reduces GTFP by leading to short-sighted government actions which inhibit the industrial upgrading and reduce green innovation capacity. In addition, the negative impact varies heterogeneously with different economic development and geographic location. Furthermore, green finance, slight tax burden, and fiscal decentralization can alleviate the negative impact of fiscal pressure on GTFP. This study not only provides guidance on fiscal governance, but also provides a reference for the synergistic promotion of environmental governance and economic development in developing countries.</div></div>\",\"PeriodicalId\":14444,\"journal\":{\"name\":\"International Review of Economics & Finance\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":4.8000,\"publicationDate\":\"2024-11-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Economics & Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1059056024006944\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056024006944","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
The local government fiscal pressure's effect on green total factor productivity: Exploring mechanisms from the perspective of government behavior
Local government fiscal pressure can change government behavior, which in turn affects corporate performance to a certain extent. However, the research on how fiscal pressure affect green economy is scarce. We adopt the city-level green total factor productivity (GTFP) index to measure the green economy in China and verifies fiscal pressure's negative effect on GTFP from the new perspective of government behavior. We find that fiscal pressure reduces GTFP by leading to short-sighted government actions which inhibit the industrial upgrading and reduce green innovation capacity. In addition, the negative impact varies heterogeneously with different economic development and geographic location. Furthermore, green finance, slight tax burden, and fiscal decentralization can alleviate the negative impact of fiscal pressure on GTFP. This study not only provides guidance on fiscal governance, but also provides a reference for the synergistic promotion of environmental governance and economic development in developing countries.
期刊介绍:
The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.