| During the 14th Five-Year Plan period,with the goal of "carbon peaking" and "carbon neutrality",there is a lot of attention on how to achieve a significant increase in green industries and thus promote high-quality economic development.Green technology innovation balances the two requirements of environmental protection and economic development,and is an important driving force for enterprises to green their production and achieve sustainable development.As an important branch of traditional finance in the field of energy conservation and environmental protection,green finance plays an important role in promoting the development of green technology innovation.However,in the context of "unbalanced and insufficient" development at this stage,there are significant differences in the development level of regional green technology innovation.Since green finance and green technology innovation are mostly based on information and technology,and have strong externalities,it is important to study the spatial spillover effects between green finance and green technology innovation to promote coordinated regional development.This paper firstly compares the relevant literature,based on which the influence path of green finance on regional green technology innovation is explained from relevant concepts and basic theories,and the mechanism of the spatial spillover effect of green finance is analyzed theoretically.Subsequently,the paper constructs the green financial evaluation index system and the green technology innovation index system respectively,uses the entropy method and the super efficiency SBM-DEA model to calculate the green financial development index and the regional green technology innovation efficiency,and compares and analyzes its development status based on the calculation results.Then,in order to further verify the research hypothesis,this paper selected the provincial panel data of China from 2011 to 2020,made a spatial correlation analysis of regional green technology innovation,and empirically tested the direct impact and spatial spillover effect of green finance on regional green technology innovation by establishing a spatial Durbin model.It is found that,the development level of green technology innovation in China differs greatly among different regions and has spatial correlation,i.e.,the distribution of regional green technology innovation development level has aggregation characteristics;from the empirical results,green finance can not only significantly promote the development of regional green technology innovation,but also produce positive spatial spillover effects on neighboring regions.In addition,the results of sub-regional tests show that green finance in eastern,central and western China can promote the development of green technology innovation in the region and have a significant promotion effect on the neighboring regions,but the effect is greater in the western region than in the eastern and central regions.Finally,based on the research conclusions,the main recommendations are as follows.First,strengthen the construction of interregional green financial cooperation system to improve the efficiency of green financial services.Secondly,establish a regional green technology innovation element sharing platform to promote the coordinated development of green technology innovation among regions.Third,innovate green financial tools and products,enhance green financial support,and strengthen the promotion role of green finance for regional green technology innovation. |
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