金融集聚对工业绿色全要素生产率的影响研究--基于长三角地区的实证

Research on the Impact of Financial Agglomeration on Industrial Green Total Factor Productivity:An Empirical Study Based on the Yangtze River Delta

高质量发展背景下,探究金融集聚效应与区域工业绿色经济高效率发展的关系,对建立绿色高效工业体系、推动区域经济可持续发展具有重要现实意义。文章选取2005—2019年长三角地区16个主要城市面板数据,实证检验金融集聚对工业绿色全要素生产率的动态影响及行业异质性。结果发现:金融集聚对长三角地区工业绿色全要素生产率的影响表现为“倒U”型,保险业集聚对工业绿色全要素生产率的影响呈现正相关关系,而银行业、证券业集聚水平较低和过高都会制约工业绿色全要素生产率的提升,且银行业、证券业、保险业集聚都对工业绿色全要素生产率存在门槛效应。

Under the background of high-quality development,exploring the relationship between financial agglomeration effect and the efficient development of regional industrial green economy is of great practical significance to establish a green and efficient industrial system and promote the sustainable development of regional economy.This paper selects the panel data of 16 major cities in the Yangtze River Delta from 2005 to 2019 to empirically test the dynamic impact of finan⁃cial agglomeration on industrial green total factor productivity and industry heterogeneity.The results show that the im⁃pact of financial agglomeration on industrial green total factor productivity in the Yangtze River Delta is"inverted U".The impact of insurance agglomeration on industrial green total factor productivity shows a positive correlation.The low and high agglomeration level of banking and securities industry will restrict the improvement of industrial green total factor productivity,and the agglomeration of banking,securities,and insurance industry has a threshold effect on industrial green total factor productivity.