风险投资对绿色经济发展的影响研究

Research on the Impact of Venture Capital on the Development of Green Economy

为探讨风险投资对绿色经济发展的影响,并验证产业结构升级在其中的中介作用。以2011-2022年我国30个省级行政区(不包含港澳台和西藏)作为研究样本,运用基准回归模型和面板门槛模型进行实证分析。研究发现:风险投资显著促进了我国绿色经济的发展;东部地区由于风险投资较为成熟,对绿色经济的推动作用显著,而中西部地区则因风险投资发展不足,影响有限;风险投资在达到一定规模后,对绿色经济的正面影响更为显著;风险投资可以通过促进产业结构优化和升级提升绿色经济发展水平。

To investigate the infl uence of venture capital on the green economy's progression and to substantiate the intermediary role of industrial restructuring,the research encompasses a sample of 30 Chinese provincial administrative regions(Hong Kong,Macao,and Tibet not included)spanning the years 2011 to 2022.It applies standard regression and panel threshold modeling techniques for its empirical examination.The study fi nds that Venture capital has a markedly positive effect on advancing the development of China's green economy.The eastern regions,with more mature venture capital,have a signifi cant driving eff ect on the green economy,while the central and western regions,due to insuffi cient development of venture capital,have a limited impact.After reaching a certain scale,the positive impact of venture capital on the green economy becomes more pronounced.Venture capital further enhances the development level of the green economy by promoting the optimization and upgrading of the industrial structure.