绿色信贷对城市绿色技术创新的影响与机制研究

Research on the impact and mechanism of green credit on urban green technology innovation

绿色信贷是推动城市绿色技术创新的“源头活水”和动力所在.对此,该文采用2008—2021年中国282个地级及以上城市面板数据,在测度城市层面绿色信贷水平的基础上,通过异质性分析、机制分析和非线性分析,多维度实证检验了绿色信贷对城市绿色技术创新的影响及机制.研究结果表明,绿色信贷能够显著促进城市绿色技术创新能力的提升,且这种促进作用存在异质性.机制分析表明,绿色信贷能够通过经济集聚的中介效应间接促进城市绿色技术创新.非线性分析表明,绿色信贷对城市绿色技术创新的影响存在门槛效应,即随着环境规制强度的提升,其影响呈现出边际效应递增的门槛特征.以上基于城市层面的经验证据,对于有效增加绿色信贷供给、促进绿色生产力发展具有一定借鉴意义.

Green credit acts as the“lifeblood”and a pivotal impetus for urban green technological innovation.Utilizing panel data from 282 Chinese cities spanning 2008 to 2021,this article measures the level of green credit at the city level and empirically examines its impact on urban green technological innovation through heterogeneity,mechanism,and nonlinear analyses.The findings reveal that green credit significantly fosters the advancement of urban green technological innovation,with the extent of this positive effect varying across different contexts.Mechanism analysis shows that green credit can stimulate urban green technological innovation via the intermediary role of economic agglomeration.Nonlinear analysis indicates a threshold effect in the impact of green credit on urban green technological innovation,where the influence grows marginally as environmental regulatory intensity increases.This city-level empirical evidence provides insights for effectively enhancing the supply of green credit and fostering green productivity development.