重新审视金融集聚与能源效率之间的关系:一个空间溢出方法

IF 3.1 4区 工程技术 Q3 ENERGY & FUELS Energy Sources Part B-Economics Planning and Policy Pub Date : 2022-09-08 DOI:10.1080/15567249.2022.2118902
Fengrong Wang, Chenxi Zhang, William Mbanyele, Hongyun Huang, T. Baležentis
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引用次数: 4

摘要

金融集聚(FA)可能在提高能源效率(EE)中发挥重要作用,因此从理论和实证的角度来看都很重要。然而,很少有研究探讨FA与EE之间的因果非线性关系。因此,我们首先利用全球技术扩展了基于射线松弛的新型测量方法,以评估2003-2018年中国城市电子商务。接下来,我们将重新审视FA对情感表达的非线性因果关系,并探讨其潜在的影响机制。实证结果表明,中国城市EE总体较低,区域差异格局明显。此外,我们发现FA和EE之间的因果关系遵循倒u型函数,而不是线性函数。FA仅在达到一定阈值后才能促进EE的改善,在此阈值之后,它就会逆转为抑制作用。基于双制度空间Durbin面板模型的进一步分析表明,当中心城市的城市发展程度并不明显大于周边城市时,城市发展确实可以通过正外部性提高周边城市的情感表达。然而,当某些重点城市的财政资源吸收越来越多地高于周边大多数城市时,积极的溢出效应就会逐渐消失,甚至逆转为一种不良的虹吸,从而抑制整体经济效益的提高。这些发现为理解FA在可持续发展中的作用提供了新的见解。
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Revisiting the nexus between financial agglomeration and energy efficiency: A spatial spillover approach
ABSTRACT Financial agglomeration (FA) may play an essential role in enhancing energy efficiency (EE) and, thus, is important from both theoretical and empirical viewpoints. However, few studies have investigated the causal nonlinear relationship between FA and EE. Hence, we first extend the novel ray slacks-based measure with global technology to evaluate the urban EE in China during 2003–2018. Next, we reexamine the nonlinear causality of FA on EE and then explore the underlying impact mechanism. The empirical results show that China’s urban EE is generally relatively low with distinct patterns of regional differences. Moreover, we find that the causal relationship between FA and EE follows an inverted U-shaped function rather than a linear one. FA promotes the improvement of EE only up to a certain threshold point, after which it reverses into an inhibitory effect. A further analysis based on the two-regime spatial Durbin panel model suggests that FA can indeed improve the EE of surrounding cities through positive externalities when the degree of FA in focal cities is not substantially greater than that in surrounding cities. However, when financial resources absorbed in certain focal cities become increasingly higher than that in most surrounding cities, the positive spillover effect would gradually disappear and even reverse into an undesirable siphon, thereby inhibiting the improvement of overall EE. These findings provide new insights for understanding the role of FA in sustainable development.
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CiteScore
6.80
自引率
12.80%
发文量
42
审稿时长
6-12 weeks
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