“双碳”目标下数字金融对碳排放强度的影响研究

Research on the Impact of Digital Finance on Carbon Emission Intensity under the“Dual Carbon”Goal

近年来,随着金融的数字化转型成为数字经济领域的亮点,“双碳”目标也逐渐成为国内各界关注的焦点。数字金融在助推经济高质量发展的同时,是否能推动低碳发展?基于中国285个地级市2011—2019年的面板数据,运用计量经济模型研究数字金融对碳排放强度的影响及机理。研究发现:“双碳”目标下,数字金融发展降低了碳排放强度,且可通过提高经济效率、调整产业结构和加强技术创新三条路径间接影响碳排放强度;空间效应分析表明,本地数字金融发展对邻地的碳排放强度具有负向溢出效应;异质性分析表明,数字金融发展水平高的地区对碳排放强度的影响远大于数字金融发展水平低的地区,“胡焕庸线”以东地区数字金融对碳排放强度抑制作用更明显。

The digital transformation of finance has become a highlight in the field of digital economy in recent years,and the goal of“double carbon”is also the focus of attention in China.Can digital finance promote low-carbon development while promoting high-quality economic development?Based on the panel data of 285 prefecture-level city in China from 2011 to 2019,this paper uses econometric models to study the impact of digital finance on carbon emission intensity and its mechanism.It is found that,under the“two-carbon”target,the development of digital finance reduces carbon emission intensity,and can indirectly affect carbon emission intensity through improving economic efficiency,adjusting industrial structure and strengthening technological innovation.The spatial effect analysis shows that the development of local digital finance has a negative spillover effect on the carbon emission intensity of neighboring areas.Heterogeneity analysis shows that the impact of high digital finance development level on carbon emission intensity is much greater than that of low digital finance development level.To the east of the“Hu Huanyong Line”,digital finance has a more obvious inhibition effect on carbon emission intensity.