Wu Fuqiang, Yang Xiaoli, Chen Yujia
Jiangsu Normal University Business School, Xuzhou, China.
Heliyon. 2023 Mar 1;9(3):e14172. doi: 10.1016/j.heliyon.2023.e14172. eCollection 2023 Mar.
Exploring innovative mechanisms for financial agglomeration affecting the green coordinated development of China's Yangtze River Delta is important for the city to take advantage of financial and innovative resources to promote high-quality green development. Using panel data from 41 cities in the Yangtze River Delta region from 2003 to 2019, the intermediate effects model and spatial Durbin model are conducted to deeply explore the impact of financial agglomeration on coordinated green development and the intermediary role of innovation. Results show that, first, financial agglomeration can drive green technology innovation to significantly improve the coordinated development of "production greening - social optimization - environmental protection deepening". Second, financial agglomeration significantly improves the green coordinated development in neighboring areas through inter-city innovative spatial connections, and the spatial spillover effect tends to decay with the critical point of the maximum impact range at 240 km. Third, the intermediate mechanism of green technology innovation performs well in the high-level financial agglomeration and financial capital agglomeration areas. The Banking and securities industries are the leading factors in financial capital agglomeration. Low-level financial agglomeration and financial personnel agglomeration cannot play the "driving green" role of the innovation mechanism.
探索金融集聚影响中国长江三角洲绿色协调发展的创新机制，对于城市利用金融和创新资源推动高质量绿色发展具有重要意义。利用2003年至2019年长江三角洲地区41个城市的面板数据，采用中介效应模型和空间杜宾模型，深入探讨金融集聚对绿色协调发展的影响以及创新的中介作用。结果表明，第一，金融集聚能够驱动绿色技术创新，显著促进“生产绿化—社会优化—环境保护深化”的协调发展。第二，金融集聚通过城际创新空间联系显著提升邻近地区的绿色协调发展，且空间溢出效应在最大影响范围临界点240公里处趋于衰减。第三，绿色技术创新的中介机制在高水平金融集聚和金融资本集聚地区表现良好。银行业和证券业是金融资本集聚的主导因素。低水平金融集聚和金融人才集聚无法发挥创新机制的“绿色驱动”作用。
