Research On The Impact Of Financial Agglomeration On The Total Factor Carbon Emission Efficiency Of Cities In Shandong Provinc

In 2020,President Xi Jinping pledged to reach the carbon peak by 2030 and achieve the goal of carbon neutrality by 2060.Accelerating the improvement of total factor carbon emission efficiency is an important path to help achieve the goal of “dual carbon” and promote high-quality economic development.The improvement of total factor carbon emission efficiency is inseparable from the optimization and upgrading of industrial structure and the introduction and promotion of low carbon technology,which requires full play to the financial support and guarantee provided by financial agglomeration.At present,the process of financial market construction continues to accelerate,and the financial agglomeration trend is more obvious.Shandong Province has the highest carbon dioxide emissions in China.Improving the efficiency of total factor carbon emissions is of great significance to the implementation of emission reduction commitments and the realization of " dual carbon " goals.In this context,it is of great significance to study the impact of financial agglomeration on urban total factor carbon emission efficiency in Shandong Province.This paper mainly studies the influence of financial agglomeration on total factor carbon emission efficiency.Firstly,on the basis of summarizing and combing relevant literature,this paper explains the connotation of financial agglomeration and total factor carbon emission efficiency,relevant theories and the influence mechanism of financial agglomeration on total factor carbon emission efficiency.Secondly,the entropy weight method combined with TOPSIS comprehensive evaluation method is used to comprehensively measure the level of urban financial agglomeration in Shandong Province.Thirdly,the common frontier direction distance function model is used to measure and decompose the total factor carbon emission efficiency of cities in Shandong Province,and the spatial difference analysis of cities in Shandong Province is carried out through visualization.Finally,the Moran index is used to analyze the global and local spatial correlation,and the spatial agglomeration trend of total factor carbon emission efficiency is analyzed.The dynamic spatial Durbin model is selected,and the panel data of 16 cities in Shandong Province from 2006 to 2020 are used to analyze the regression analysis and spatial effect decomposition of financial agglomeration affecting total factor carbon emission efficiency.The following conclusions are drawn:(1)During the period 2006-2020,from the perspective of the three economic circles,the financial agglomeration level of the provincial capital economic circle and the Jiaodong economic circle has been ahead of the southern economic circle.After the 13 th Five-Year Plan,the financial agglomeration level of the provincial capital economic circle has surpassed the Jiaodong economic circle and maintained a leading position;(2)From the perspective of the three economic circles,the total factor carbon emission efficiency of Jiaodong economic circle is higher than that of South Shandong economic circle and provincial capital economic circle.Both Jiaodong economic circle and Lunan economic circle have maintained an upward trend,and their growth comes from technological progress.The provincial capital economic circle shows a trend of first rising and then falling,and the reason is that technological progress first rises and then falls;(3)From the perspective of spatial distribution,the total factor carbon emission efficiency of cities in Shandong Province shows a state of spatial imbalance.The spatial agglomeration characteristics of high efficiency cities are continuously strengthened,and the overall agglomeration characteristics are high in the east and low in the west.At the same time,there is a positive spatial spillover,that is,the total factor carbon emission efficiency of the current region can improve the total factor carbon emission efficiency of adjacent regions;(4)Financial agglomeration has a significant positive spatial spillover effect on the total factor carbon emission efficiency of Shandong Province.In the control variables,the level of economic development,industrial structure,human capital and financial support can significantly promote the efficiency of total factor carbon emissions,while urbanization and foreign direct investment have an inhibitory effect on the efficiency of total factor carbon emissions.According to the research results,the following suggestions are put forward: Strengthen financial support for low-carbon technology innovation,improve the efficiency of urban total factor carbon emissions;speed up the development of urban financial agglomeration and promote the development of urban low-carbon economy;strengthen inter-city financial cooperation and promote inter-city financial coordinated development.