| China is at the stage of high-quality economic growth and development.Digital inclusive finance has become an emerging driving tool for improving quality and efficiency of social development,and has been deeply integrated into various production and livelihood.The combination of emerging digital technologies such as big data,cloud computing and intelligence in financial development can not only save energy and reduce emissions,improve energy efficiency,but also stimulate green and low-carbon technological innovation,and promote the complementarity of digital and low-carbon green development.The driving role of digital inclusive finance in regional development is becoming more and more obvious.It is a key breakthrough in promoting low-carbon technological innovation,upgrading and transformation of green industrial structure,and also an important starting point to help China achieve the carbon peaking and carbon neutrality goals as soon as possible and achieve low-carbon sustainable development.Therefore,it is necessary to study the environmental improvement effect of digital inclusive finance and explore the influence relationship and mechanism of the development of digital inclusive finance on carbon emission efficiency in China.Based on the era background of carbon peaking and carbon neutrality goals,this paper takes the balanced panel data of 30 provinces from 2011 to 2020 as the research sample,calculates the total factor carbon emission efficiency through data envelopment analysis and the digital inclusive finance index calculated by the Digital Inclusive Finance Research Center of Peking University and Ant Technology Group to reflect the development of carbon emission efficiency and digital inclusive finance,and analyzes and depicts the current situation.Through the establishment of individual entity fixed effects regression model,mediation effect regression model and moderate effect regression model and other econometric models,this paper empirically tests the direct impact,intermediary effect and regulatory effect of the development of digital inclusive finance on carbon emission efficiency,with a view to exploring a new path for the realization of low-carbon green transformation in various regions under the high-quality development stage,thus further enriching the theoretical framework of research on digital inclusive finance and carbon emission efficiency.The empirical results show that: first,the development of digital inclusive finance can significantly promote the improvement of carbon emission efficiency;From the perspective of dimensions,the coverage of digital finance has no significant impact on carbon emission efficiency,while the degree of digitalization of inclusive finance and the depth of use of digital finance can significantly improve carbon emission efficiency;From the perspective of regions,the development of digital inclusive finance in the four regions can significantly promote the improvement of carbon emission efficiency.From the perspective of impact size,the eastern region is greater than the northeast region,greater than the western region,greater than the central region.Second,digital inclusive finance can significantly affect carbon emission efficiency through energy intensity,investment scale and traditional finance,and the intermediary effect of energy intensity is the strongest.Thirdly,urbanization,human capital and the optimization of the Industrial structure can positively adjust the impact of digital inclusive finance on carbon emission efficiency,and urbanization has the strongest regulatory effect.Based on the above research,suggestions are put forward as follows:First,pay attention to the construction of digital infrastructure,expand the digital industry integration model,rely on digital technology to reduce fossil energy consumption,develop new energy and new technologies,promote industrial transformation and upgrading,and guide regional green and low-carbon transformation.Second,pay attention to the heterogeneous impact of digital inclusive finance on carbon emission efficiency,reasonably plan the process of social digitalization and regional layout,strengthen regional exchanges and cooperation,and jointly promote low-carbon development.Third,based on energy intensity,investment scale and the intermediary effect of traditional finance,carbon emission efficiency can be effectively improved by means of improving energy efficiency,adjusting investment scale and changing the traditional financial development model.Fourth,accurately grasp its own positioning,give full play to the regulatory role of urbanization,human capital and industrial structure upgrading in the promotion of carbon emission efficiency by digital inclusive finance,and promote green and low-carbon development according to local conditions. |
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