Research On The Influence Of Financial Development On Carbon Emissions

Carbon dioxide is the main gas causing global warming.Globe warming has caused glaciers to melt.The sea level has risen by 14 centimeters in the past 100 years.Carbon dioxide emission reduction has become a global concern and urgently needed.In recent years,although China’s economy has developed rapidly,it is based on the sacrifice of the environment.The 2009 Global Climate Conference was held in Copenhagen.“As of 2020,the carbon intensity will be reduced by 40% or even half by 15 years ago”,which is a solemn commitment made by the Chinese government at the meeting.In order to achieve its goal and get rid of the extensive economic development model that relies on high energy consumption and high pollution,and to achieve green GDP growth,China must develop a green economy,and technological progress is the core force for developing a green economy.The innovation and progress of a country’s technology cannot be separated from the financial support and development of the country.Therefore,this paper attempts to explore the direction of financial development that is conducive to reducing carbon emissions,and find ways to maximize the effect of financial development to promote carbon emission reduction.Considering the complex heterogeneity presented by the different stages and characteristics of each country,this paper uses the Panel Smooth Transfer Regerssion model,which is specifically used to study nonlinear relationships,referred to as the PSTR model,based on international The panel data of the representative countries with different levels of development and development characteristics from 2000 to2017 were studied with the technical level as the conversion variable.The conclusions obtained are as follows:(1)In the process of gradually improving the technical level,the impact of financial development on carbon emissions has undergone two changes.Under the low system,financial development has an inhibitory effect on carbon emissions,with an influence coefficient of-0.19;When the ratio of R&D investment to GDP is close to 0.917%,the impact of financial development on carbon emissions is suddenly promoted,with an impact coefficient of 0.1949.When the technical level is increased to R&D investment to GDP ratio of 1.074%,the impact of financial development on carbon emissions occurs.The change again showed an inhibitory effect with an influence coefficient of-0.1013.(2)When the technical level is used as the conversion variable,the direction and size of the influence of industrial structure,foreign trade,economic growth and other factors on carbon emission intensity have changed.