环境规制对工业绿色全要素生产率的影响——基于金融发展中介效应的检验

The Impact of Environmental Regulation on Green Total Factor Productivity of Industry—Test Based on the Intermediary Effect of Financial Development

环境规制、金融发展是驱动工业绿色发展的重要引擎,利用DEA-Malmquist生产率指数测算2009—2017年中国30个省份的工业绿色全要素生产率,实证分析环境规制对工业绿色全要素生产率的影响及金融发展的中介效应路径。研究发现:环境规制对工业绿色全要素生产率产生直接作用效应,而且该效应是负向的,金融发展水平是环境规制对工业绿色全要素生产率影响过程中的重要中介变量,环境规制的实施会通过影响金融资源向第二产业倾斜进而影响工业污染的排放,从而间接对工业绿色全要素生产率产生负面影响。最后根据实证检验结果提出相关的对策建议。

Environmental regulation and financial development have become important engines driving the green development of industry.This paper calculates the industrial green total factor productivity of 30 provinces in China from 2009 to 2017 by the use of DEA Malmquist productivity index,and then empirically analyzes the impact of environmental regulation on industrial green total factor productivity and the intermediary effect path of financial development.The study shows that environment regulation has the direct effect on industrial green total factor productivity,but the effect is negative;financial development level is an important intermediary variation in the influence of environment regulation on industrial green total factor productivity.The implementation of environment regulation affects the disposal of industrial pollutants by influencing the incline of financial resources toward secondary industry,and thus indirectly has negative effect on industrial green total factor productivity.Finally,some relative suggestions are offered according to empirical test results.