Cui Jiujiu, Wang Wenju, Chen Zhenling, Ren Guangqian, Gao Xiaofang
School of Management, Xinxiang University, Xinxiang, 453003, China.
Institute for Carbon Peak and Neutrality & School of Economics, Beijing Wuzi University, Beijing, 101149, China.
Environ Sci Pollut Res Int. 2023 Jan;30(2):3847-3861. doi: 10.1007/s11356-022-22366-5. Epub 2022 Aug 12.
The rapid growth of industrial digitalization and financial support are the main driving forces for the green transformation of China's economy. Aiming to explore how digitalization and financial development impact ecological efficiency (eco-efficiency), this study proposes a unified research framework by integrating multiple technologies using the panel data that covered 30 China's provinces from 2006 to 2018. First, China's provincial digital development index is constructed to measure the level of digitalization, and regional eco-efficiency is estimated by a non-radial data envelope analysis (DEA) model. Based on that, the panel data regression model and panel vector autoregression (PVAR) model are used to explore the direct effects and dynamic effect of digitalization and financial development on eco-efficiency, respectively. Then, the threshold regression model is employed to check the threshold effect of the two variables on eco-efficiency. The following conclusions are drawn: (1) Both digitalization and financial development have a significantly positive correlation with regional eco-efficiency, indicating that China's digitalization and financial development in recent years have both improved regional eco-efficiency. (2) Eco-efficiency has positive and longer responses to the impulse coming from digitalization and financial development, and the response of ecological efficiency to financial development is greater than its response to digitalization. (3) Threshold effects exist in the impact mechanism of digitalization on regional eco-efficiency. This indicates that the level of financial support is too low to promote the improvement in ecological efficiency. Eco-efficiency can be improved only to a certain extent. The research conclusions provide a policy reference for improving eco-efficiency and promoting China's green development.
产业数字化的快速发展和金融支持是中国经济绿色转型的主要驱动力。为了探究数字化和金融发展如何影响生态效率，本研究利用2006年至2018年覆盖中国30个省份的面板数据，通过整合多种技术提出了一个统一的研究框架。首先，构建中国省级数字发展指数以衡量数字化水平，并采用非径向数据包络分析（DEA）模型估计区域生态效率。在此基础上，分别运用面板数据回归模型和面板向量自回归（PVAR）模型探究数字化和金融发展对生态效率的直接影响和动态效应。然后，采用门槛回归模型检验这两个变量对生态效率的门槛效应。得出以下结论：（1）数字化和金融发展均与区域生态效率显著正相关，表明近年来中国的数字化和金融发展均提高了区域生态效率。（2）生态效率对来自数字化和金融发展的冲击有正向且持续时间较长的响应，且生态效率对金融发展的响应大于对数字化的响应。（3）数字化对区域生态效率的影响机制存在门槛效应。这表明金融支持水平过低，无法促进生态效率的提高。生态效率只能在一定程度上得到改善。研究结论为提高生态效率和推动中国绿色发展提供了政策参考。
