The Influence Of Financial Development On Energy Efficiency Based On The Threshold Characteristics And Spatial Spillover Effects

In order to alleviate the contradiction between supply and demand of energy, reducing the pressure of environmental protection and increasing the energy efficiency are becoming one of the most effective ways. At the same time, As the financial development can not only affects its economic behavior and energy demand by improving the economic efficiency of a country’s financial system, but also plays the intermediary role of integrating social capital and helps enterprises introduce advanced technology and management experience, so the financial development is likely to have a certain influence on energy efficiency. In order to reflect the actual, we should abandon the traditional spatial homogeneity assumption, while reviewing the nonlinear space between financial development and energy efficiency from the perspective of spatial heterogeneity. The solution of these problems in promoting energy efficiency and to achieve the goal of energy conservation and emissions reduction of 2020 has very important practical significance.This study used 2000-2013 panel data of 30 provinces in China, First of all, based on the Undesirable-DEA model to measure the energy efficiency; Then using the methods of spatial lag model measure the spatial spill over effect of financial scale and financial efficiency on energy efficiency and the space of decomposable Doberman model to analyze the real spill over effects, in order to overcome the disadvantages of introducing space variable into econometric model; Finally, using the threshold panel regression model to test the threshold characteristics of financial development on energy efficiency. Studies have shown that: Provinces and cities in our country is to improve the energy efficiency of overall, energy efficiency reduced from eastern, western to central and huge potential for energy efficiency improvement; Overall the effect of financial development on energy efficiency in China do exist, and there is space overflow characteristics, a regional energy efficiency is not only affected by the level of local financial development, but also by financial development of the surrounding area, the influence of the spillover effect of the decomposed well explain the financial development and disequilibrium distribution of energy efficiency in space.