金融与资本协同共生对全要素能源效率的影响研究

The Influence of Cooperative Symbiosis between Finance and Capital based on Total Factor Energy Efficiency

本文在测算全要素能源效率值的基础上,将金融支持划分为金融深化与资本深化两个维度,从多重约束视角将金融深化、资本深化以及两者协同共生三个变量纳入分析框架。基于我国省际面板数据,借助固定效应模型和T obit模型,实证研究金融与资本协同共生对我国全要素能源效率的影响。结果显示,我国相对落后的金融深化与过度资本深化对全要素能源效率都有着显著的负面影响,而两者的协同共生对全要素能源效率有着显著的正面影响。金融深化与资本深化的协同发展能够促进我国全要素能源效率的提高。

This paper estimates the total factor energy efficiency. Then the paper divides the financial support to total factor energy efficiency into two aspects： financial deepening and capital deepening. Considering multi factors symbiotic synergy effect, the financial deepening, capital deepening and cooperative symbiosis are introduced into the analysis framework. Based on the provincial panel data of China, the fixed effect model and the Tobit model are provided. The influence of the cooperative symbiosis between fi- nance and capital on the total factor energy efficiency in china is presented. The results show that China＇s relatively backward financial deepening and excessive capital deepening has a significant negative impact on the total factor energy efficiency, but cooperative symbiosis has a significant positive impact on total factor energy. The coordinated devel- opment of financial deepening and capital deepening can promote the improvement of total factor energy efficiency in china.