“双碳”背景下绿色金融改革创新试验区的实证分析

Empirical Analysis of Green Financial Reform and Innovation Pilot Zone under the Background of Double Carbon

绿色金融逐渐成为绿色发展的新引擎,在碳达峰、碳中和背景下,绿色金融发展在城市减污降碳方面发挥着重要作用。本文基于2011—2020年我国城市面板数据,以经国务院同意中国人民银行等六部委印发《建设绿色金融改革创新试验区总体方案》为事件时间点,运用倾向性匹配—双重差分法(PSM-DID)实证分析绿色金融改革创新试验区政策的减污降碳效应。结果发现,与非试点城市相比,绿色金融改革试验区政策产生了显著的减污降碳效应,城市绿色技术创新能力中介效应明显;异质性分析表明,绿色金融改革试验区政策的减污降碳效应在东部、中部、西部城市之间存在一定的差异。

Green Finance has gradually become a new engine of green development.In the strategies background of carbon peaks,carbon neutrality,green finance develops an important role in pollution and carbon reduction in cities.Based on the data of China’s urban panels from 2011 to 2020,taking the Overall Plan for the Construction of the Green Financial Reform Innovation Pilot Zone promulgated by the People's Bank of China and six other ministries approved by the State Council as the time point,using the Tendency Matching—Dual Difference Method(PSM-DID),this paper empirically analyzes the pollution reduction and carbon reduction effects of green finance reform and innovation pilot zone policies.The results showed that compared with non-pilot cities,the green finance reform pilot zone policy had a significant pollution reduction and carbon reduction effect,and the intermediary effect of urban green technology innovation capacity was significant;Heterogeneity analysis shows that there are certain differences in the pollution and carbon reduction effects of policies in the green finance reform pilot zone among cities in the east,central,and western regions.