Analysis Of The Impact Of Digital Inclusive Finance On Energy Carbon Performance Curse

Against the background of the increasingly serious global warming,China has proposed the carbon reduction targets of carbon peaking and carbon neutrality at the 75th United Nations General Assembly,and has also pointed out that the low-carbon transition has a long way to go.As a new financial model in the era of digital economy,digital inclusive finance is characterized by wider coverage,lower cost,higher efficiency and precision,which can alleviate traditional problems such as financial discrimination and capital mismatch,and thus optimize the whole financial system.Then what is the impact of digital inclusive finance on energy carbon performance curse and its specific intermediary mechanism is worth exploring,which holds important theoretical and practical significance to promote the low carbon transition in China.In view of this,based on the existing related literature,this paper employs a DEA model to measure the energy carbon performance in Chinese cities through the non-radial directional distance function(NDDF).This study explores the effects of mineral resource dependence on energy carbon performance with a fixed effect model(FE),and tests the existence of energy carbon performance curse.Based on the existence of energy carbon performance curse,the impacts of digital inclusive finance on energy carbon performance curse are further examined by fixed effects model(FE),and the specific ways of such impacts are further examined from two perspectives:energy performance curse and carbon performance curse.The mediating effect model is used to explore the transmission mechanism of economic restructuring for digital financial inclusion to break energy carbon performance curse,and the specific channels of this mechanism are analyzed in four dimensions:energy restructuring,factor restructuring,human capital restructuring and industrial restructuring.Finally,based on the research content of this paper,we provide policy recommendations to promote the coordinated development of digital inclusive finance and low-carbon transformation in the context of China’s dual carbon goal of carbon peaking and carbon neutrality.The main conclusions obtained in this paper are as follows:First,mineral resource dependence inhibits energy carbon performance at the 1%significance level,and inhibits energy performance and carbon performance at the 10%and 1%significance levels,respectively,which initially tests the existence of the energy carbon performance curse.The conclusion that the energy carbon performance curse exists still holds after dealing with its endogeneity and series robustness tests.Second,digital financial inclusion inhibits the energy carbon performance curse at the 1%significance level,and this impact arises from the negative effects of digital financial inclusion on both energy performance curse and carbon performance curse.According to the natural resource endowment heterogeneity analysis,non-mineral resource-based cities can benefit more from digital inclusive finance to alleviate the energy carbon performance curse,which validates the "digital gap" from the perspective of energy carbon performance curse,and the air pollution heterogeneity analysis shows that the effect of digital inclusive finance on breaking energy carbon performance curse only exists in polluting cities.Third,the transmission mechanism analysis shows that digital inclusive finance can curb the energy carbon performance curse by promoting regional economic restructuring,but this mechanism behaves as a fully mediated mechanism for mineral resource-based cities and a partially mediated mechanism for non-mineral resource-based cities.According to further research,this mechanism is mainly realized through three specific channels:factor restructuring,energy restructuring and industrial restructuring.