绿色金融发展对黄河流域生态环境的影响研究——基于61个城市的面板数据

Research on the Impact of Green Finance Development on the Ecological Environment of the Yellow River Basin

基于黄河流域61个地级市2004—2020年的面板数据,构建生态环境和绿色金融指标体系,在此基础上进行计量分析。结果表明,绿色金融发展水平的提高对地区生态环境起到了强烈且有效的助推作用,这一结论在进行一系列稳健性检验后仍然成立;作用机制分析显示,产业高级化、技术创新和环保意识是绿色金融改善黄河流域生态环境的主要渠道;采用门槛模型研究发现,绿色金融对黄河流域生态环境的积极影响存在“边际效应”非线性递增;空间模型回归结果显示,绿色金融对黄河流域生态环境的影响存在空间溢出效应。

Based on panel data from 61 prefecture level cities in the Yellow River Basin from 2004 to 2020,construct an ecological environment and green finance indicator system,and conduct quantitative analysis on this basis.The results indicate that the improvement of the development level of green finance has played a strong and effective role in promoting the regional ecological environment,and this conclusion still holds after a series of robustness tests;The analysis of the mechanism of action shows that industrial upgrading,technological innovation,and environmental awareness are the main channels for green finance to improve the ecological environment of the Yellow River Basin;Using threshold and spatial models,it was found that the positive impact of green finance on the ecological environment of the Yellow River Basin has a non-linear increasing marginal effect;The spatial model regression results show that there is a spatial spillover effect of green finance on the ecological environment of the Yellow River Basin.