金融深化对中国碳排放有影响吗?

Financial Deepening is Helpful to Reduce Carbon Dioxide Emissions?

估算了中国1998~2012年30个省份的CO_2排放量,利用全国30个省份多个指标数据,考察了金融深化和CO_2排放量之间的关系。建立静态模型和动态面板模型,首先以人均GDP和金融深化指标为解释变量考察金融深化对中国碳排放的影响,然后在模型中加入城市化水平等控制变量,采用滞后期工具变量来控制有关变量的内生性,最后运用GMM方法研究了金融深化、经济增长对我国碳排放的影响。研究结果发现：金融深化与中国CO_2排放量呈显著的负相关关系,进而证实了中国存在环境库兹涅茨曲线（EKC）假说。城市化水平、产业结构、一次能源消费结构对碳排放的影响成显著正相关,研发强度与对外开放度对我国碳排放成负相关关系。最后从长远来看,金融深化有利于我国节能减排以及我国低碳进程的发展。

This paper calculated the CO_2 emissions in China＇s 30 provinces from 1998-2012 zones.Using multiple index data of 30 provinces nationwide,the paper examines the relationship between financial deepening and CO_2 emissions.The paper sets up static model and dynamic panel model.First of all,with per capita GDP and financial deepening index as explained variable,the paper studies the effect of financial deepening for China＇s carbon emissions.Then the model of control variable such as urbanization level was joined.The variable lag tool is used to control the endogenous variable,finally using GMM method the paper studies the influence of the financial deepening and economic growth of on carbon emissions to our country.The results indicate that financial deepening with China＇s carbon dioxide emissions were significantly negative correlation relationship,the article also proved the existence of Chinese environmental Kuznets curve（EKC） hypothesis.Urbanization,industrial structure,primary energy consumption structure on the influence of carbon emissions into a significant positive correlation,research and development strength and openness to foreign have a negative correlation with China＇s carbon emissions.Finally,in the long run,financial deepening is beneficial to the development of the process of our low carbon energy saving and emission reduction to our country.