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Environmental science and pollution research international
Nov, 2022;29 (51): 77283-77299.

Does green financial reform pilot policy promote green technology innovation? Empirical evidence from China.

Xueyang Wang, Xiumei Sun, Haotian Zhang, Chaokai Xue
Author Information
  1. Xueyang Wang: Business School, Shandong University of Technology, Zibo, 255000, China.
  2. Xiumei Sun: Business School, Shandong University of Technology, Zibo, 255000, China. sxm1612@126.com.
  3. Haotian Zhang: Business School, Shandong University of Technology, Zibo, 255000, China.
  4. Chaokai Xue: Business School, Shandong University of Technology, Zibo, 255000, China.
PMID: 35675012 DOI: 10.1007/s11356-022-21291-x

Abstract

As a new financial model that balances economic and ecological benefits, green finance (GF) plays an important role in promoting green economic development and ecological environmental protection. Based on the panel data set of 30 provinces in China from 2010 to 2020, this paper uses the synthetic control method (SCM) to explore the impact of the green financial reform pilot policy (GFRP) on the green technology innovation (GTI) capabilities of pilot areas and evaluate the policy effects. The specific research conclusions are as follows: (1) On the whole, the GFRP has a positive role in promoting the GTI capability of the pilot areas, but this role is different due to the different resources, environment, and economic development levels of each region. The areas with economic development levels in the middle and head are obviously affected by the policy, and the less developed areas are less affected by the policy or even have a restraining effect. (2) Although the pilot policy has improved the GTI capability of the pilot area, the promotion effect is unstable, that is, the implementation effect of the policy is unstable. In the early stage of policy implementation, the promotion effect of the policy on the regional GTI capacity is the most obvious, and this promotion effect begins to show a downward or stable trend in the 2-3 years after the policy is implemented. Based on the above conclusions, it can provide some reference for the revision and improvement of GFRP.

Keywords

Green finance pilot Green technology innovation Policy effect SCM

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MeSH Term

Economic Development
Environmental Policy
Inventions
China
Policy
Journal Article

Word Cloud

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