Hao Yu, Wang Chunxiao, Yan Guoyao, Irfan Muhammad, Chang Chun-Ping
School of Management and Economics, Beijing Institute of Technology, Beijing, 100081, China; Center for Energy and Environmental Policy Research, Beijing Institute of Technology, Beijing, 100081, China; Sustainable Development Research Institute for Economy and Society of Beijing, Beijing, 100081, China; Beijing Key Lab of Energy Economics and Environmental Management, Beijing, 100081, China; Yangtze Delta Region Academy of Beijing Institute of Technology, Jiaxing, 314001, China.
School of Management and Economics, Beijing Institute of Technology, Beijing, 100081, China.
J Environ Manage. 2023 Jun 1;335:117554. doi: 10.1016/j.jenvman.2023.117554. Epub 2023 Mar 1.
Globally, nations are increasingly focusing on green innovation in their environmental protection efforts as part of sustainable development, and digital finance is playing a vital role in enhancing green innovation. Employing annual data from 220 prefecture-level cities between 2011 and 2019, we empirically analyze the connections among environmental performance, digital finance, and green innovation via the Karavias panel unit root test with structural breaks, the Gregory-Hansen structural break cointegration test and pooled mean group (PMG) estimation. The following four points are the key conclusions: (1) The results support cointegration links between these variables when structural breaks are considered. (2) The PMG estimation outcomes indicate that green innovation and digital finance may have a favorable long-term effect on environmental performance. (3) For better environmental performance and more green innovation, the level of digitalization of digital finance is crucial. (4) The potential of digital finance and green innovation to improve environmental performance has not been fully realized in the western region of China.
在全球范围内，各国在其环境保护努力中越来越关注绿色创新，将其作为可持续发展的一部分，而数字金融在促进绿色创新方面发挥着至关重要的作用。利用2011年至2019年220个地级市的年度数据，我们通过带有结构断点的卡拉维亚斯面板单位根检验、格雷戈里 - 汉森结构断点协整检验和面板均值组（PMG）估计，对环境绩效、数字金融和绿色创新之间的联系进行了实证分析。以下四点是关键结论：（1）当考虑结构断点时，结果支持这些变量之间的协整联系。（2）PMG估计结果表明，绿色创新和数字金融可能对环境绩效产生有利的长期影响。（3）为了实现更好的环境绩效和更多的绿色创新，数字金融的数字化水平至关重要。（4）数字金融和绿色创新改善环境绩效的潜力在中国西部地区尚未得到充分实现。
