中国绿色金融效率时空分异及其提升路径

Spatiotemporal variations in the efficiency of green finance in China and its enhancement paths

绿色金融是助益于解决一揽子环境问题的核心推动力,本质上是一个在环保资源层面由“逐底竞争”至“逐顶竞争”的行为嬗变,为探索绿色金融的效率水平与提升路径,本文通过Super-SBM模型与Malmquist指数来测算中国30个省份2011—2020年的绿色金融效率,从省域分布和时间序列两个方面分别进行多维解读,同时透过组态视角对影响效率值高低的解释因子进行跟踪研判。研究表明:(1)中国绿色金融效率呈现出“东部—西部—中部—东北”依次递减的格局,在空间分布上显现出一定程度的聚集现象和两极分化态势;(2)效率值处于上升阶段集中于“十二五”时期,而在“十三五”时期处于波动下降态势,纯技术效率和技术进步是效率处于上升阶段的主导因素,规模效率是效率处于下降阶段的主要原因;(3)各解释因子均不单独构成绿色金融效率提升的瓶颈,且通过联动匹配识别出5条高效率组态驱动路径。最后,基于区域绿色金融效率问题显著的发展不均衡性和系统组态特征,提出了一系列具有前瞻性的理论建议。

In order to explore the level of efficiency and the path of improvement of green finance,this paper uses the Super-SBM model and the Malmquist Index to measure the efficiency of green finance in 30 Chinese provinces from 2011 to 2020, with a multi-dimensional interpretation in terms of provincial distribution and time series, as well as a follow-up study on the explanatory factors affecting the efficiency value through a group perspective. The study showed that:(1) The efficiency of green finance in China showed a decreasing pattern of east-west-central-northeast,with a certain degree of aggregation and polarization in spatial distribution;(2) The rising efficiency was concentrated in the 12th Five-Year Plan period, and the efficiency value fluctuated and decreased in the 13th Five-Year Plan period;pure technical efficiency and technological progress were the leading factors for the rising efficiency, and scale efficiency was the main reason for the decreasing efficiency;(3) None of the explanatory factors alone constituted a bottleneck for the improvement of green financial efficiency, and five high-efficiency grouping driving pathways were identified through linkage matching. Finally, a series of forward-looking theoretical recommendations were made based on the significant developmental unevenness and systemic grouping characteristics of the regional green financial efficiency issue.