Research On The Impact Of Green Finance Development On Ecological Innovation Efficiency In The Yellow River Basin

The Yellow River Basin is an important ecological barrier and economic zone in China,and the report of the 20 th National Congress of the Communist Party of China emphasizes the need to promote ecological protection and high-quality development of the Yellow River Basin,while the Yellow River Protection Law of the People’s Republic of China proposes to improve the scientific and technological innovation capacity of the Yellow River Basin and promote the green transformation of development mode.However,at present,there are still problems in the Yellow River Basin such as low level of green finance development,slow transformation efficiency of scientific and technological innovation achievements,and uncoordinated regional development,which seriously hinders the pace of scientific and technological innovation and high-quality development.Based on these,the paper takes the impact of green finance development on ecological innovation efficiency in the Yellow River Basin as the research object,selects relevant panel data from nine provinces along the Yellow River Basin from 2011 to 2020,uses the entropy value method to measure the development level of green finance in the Yellow River Basin,uses the SBM model to measure the ecological innovation efficiency of the Yellow River Basin,evaluates the development status and ecological innovation efficiency of green finance in the Yellow River Basin,and then constructs a benchmark regression model,a spatial Dubin model and a mediation effect model.The direct effects,spatial spillover effects and intermediary effects of green finance development on ecological innovation efficiency in the Yellow River Basin were analyzed.It is found that:(1)From 2011 to 2020,the development level and ecological innovation efficiency of green finance in the Yellow River Basin showed an upward trend,and the interval difference was obvious.(2)The development of green finance in the Yellow River Basin can promote the improvement of ecological innovation efficiency,and there is heterogeneity in the development of green finance in the upstream,middle and downstream of ecological innovation efficiency.(3)The development of green finance in the Yellow River Basin can improve ecological innovation efficiency by expanding the scale of capital,promoting technological progress,optimizing the industrial structure and adjusting the energy structure.(4)There is a positive spatial spillover effect of green finance development on the improvement of ecological innovation efficiency in the Yellow River Basin.Therefore,This paper argues that government departments should improve the green finance development system,financial institutions should innovate green financial products and services,green industries should develop green technology and clean energy,and regions should promote regional high-quality and coordinated development,and put forward relevant countermeasures for the development of green finance in the Yellow River Basin to promote ecological innovation efficiency.