Research On The Impact Of Green Finance On Carbon Emission Efficienc

Improving carbon efficiency is the key to achieving the goals of ‘carbon peak,carbon neutral’.Green finance aims to guide the flow of funds to the ecological environment industry.It helps to promote the progress of green technology and the ecologicalization of industrial structure.Ultimately it has an important impact on improving carbon emission efficiency.Therefore,vigorously developing green finance will help promote traditional industries to reduce carbon emissions and improve production efficiency.The development of green finance is also the core of China’s economic and social low-carbon transformation.However,few studies have conducted an in-depth analysis of the relationship between the two from a spatial perspective,so it is necessary to further study the impact of green finance on carbon emission efficiency and spatial spillover effect,as well as its mechanism.This paper firstly sorts out relevant domestic and foreign literatures on green finance and carbon emission efficiency.Then take this as the starting point of the research and gradually start to analyze the direct effect,spatial spillover effect and mechanism of green finance on carbon emission efficiency.Secondly,the research object is 30 provinces in China from 2007 to 2019.The method of combining the entropy method and the expert scoring weight is used to measure the development level of green finance,the super SBM model is used to measure the carbon emission efficiency.Then according to the calculation results,the spatial distribution characteristics and changing trends of the two are analyzed.Thirdly,analyze the impact of green finance on carbon emission efficiency and spatial spillover effect by establishing a Spatial Durbin Model.Heterogeneity analysis is then carried out for different regions.Fourthly,build the mediating effect model to test the transmission mechanism of green finance affecting carbon emission efficiency.Finally,suggestions are put forward according to the above research results.The results show that,firstly there is a significant spatial correlation between the green finance and carbon emission efficiency.Secondly from the perspective of spatial spillover effect,the development of green finance can not only improve the efficiency of local carbon emission,but also promote the carbon emission efficiency in surrounding areas.From the perspective of regional heterogeneity,the impact of green finance development on local carbon emission in eastern China is not significant,but it can significantly improve the carbon emission efficiency of neighboring regions.At the same time the development of green finance in the central region has significantly improved the efficiency of local carbon emissions,but the impact on neighboring areas has not yet appeared.In contrast,green finance in the western region can improve the carbon emission efficiency of both local and neighboring regions.From the perspective of the mechanism,green finance can promote carbon emission efficiency through two ways: technological progress and upgrading of industrial structure.Based on the above conclusions,suggestions are made from the perspectives of the national government,regional construction,financial institutions and individual investors.