金融抑制如何影响了工业减排——来自中国省级面板数据的经验证据

How Does Financial Repression Affect Industrial Emission Reduction:Empirical Evidence from the Provincial Panel Data of China

通过把工业污染物排放强度分解为"强度效应"与"产业结构效应",分析金融抑制对工业污染物排放强度的作用机理,并利用中国省级面板数据,实证检验了金融抑制与工业减排之间的关系。研究发现,金融抑制对工业污染物排放强度具有显著的正向影响,金融抑制提高了工业污染物排放强度进而不利于工业减排。研究结论表明,提升中国工业减排的内在动力,有赖于进一步深化金融体制改革、提高金融资源配置效率。

By decomposing the emission intensity of industrial pollutants into ＂ intensity effect＂ and ＂industrial structure effect＂, the article analyzes the mechanism of financial repression on the emission intensity of industrial pollutant. An empirical test is made on the relationship between financial repression and industrial emission reduction by using the provincial panel data of China. It is found that financial repression has a significant positive impact on the intensity of industrial pollutant emission. Financial repression enhances the intensity of industrial pollutant emission and is bad for industrial emission reduction. The conclusion of the study shows that the improvement of the internal driving forces of China＇ s industrial emission reduction depends on further deepening the reform of the financial system and improving the efficiency of financial resource allocation.