Zhu Kunyan, Ma Rufei, Du Lei
The Institute for Sustainable Development, Macau University of Science and Technology, Macao, 999078, China.
School of Business, Macau University of Science and Technology, Macao, 999078, China.
Environ Sci Pollut Res Int. 2023 May;30(23):63435-63452. doi: 10.1007/s11356-023-26619-9. Epub 2023 Apr 12.
Digital inclusive finance has an essential impact on improving the urban green economy efficiency by demonstrating environmental friendliness in agglomerating factors and promoting the flow of factors. Based on the panel data of 284 cities in China from 2011 to 2020, this paper uses the super-efficiency SBM model with undesirable outputs to measure the urban green economy efficiency. Then, the fixed effect model and spatial econometric model of panel data are used to empirically test the impact of digital inclusive finance on urban green economic efficiency and its spatial spillover effect, and the heterogeneity analysis is carried out. This paper draws the following conclusions. (1) The average value of urban green economic efficiency of 284 Chinese cities from 2011 to 2020 is 0.5916, showing a "high in the east and low in the west." In terms of time, it showed a rising trend year by year. (2) Digital financial inclusion and urban green economy efficiency have a high spatial correlation, both showing "high-high" and "low-low" agglomeration characteristics. (3) Digital inclusive finance significantly impacts urban green economic efficiency, especially in the eastern region. (4) The impact of digital inclusive finance on urban green economic efficiency has a spatial spillover effect. In the eastern and central regions, digital inclusive finance will inhibit the improvement of urban green economic efficiency in adjacent cities. In contrast, it will promote urban green economy efficiency in the western regions in adjacent cities. (5) The coverage and depth of digital inclusive finance significantly affect the urban green economy efficiency, while the level of digitization has yet to show a significant effect. This paper puts forward some suggestions and references for promoting the coordinated development of digital inclusive finance in various regions and improving urban green economic efficiency.
数字普惠金融通过在集聚要素中展现环境友好性和促进要素流动，对提升城市绿色经济效率具有至关重要的影响。基于2011—2020年中国284个城市的面板数据，本文运用含非期望产出的超效率SBM模型测度城市绿色经济效率。然后，利用面板数据的固定效应模型和空间计量模型实证检验数字普惠金融对城市绿色经济效率的影响及其空间溢出效应，并进行异质性分析。本文得出如下结论：（1）2011—2020年中国284个城市的城市绿色经济效率平均值为0.5916，呈现“东高西低”的态势，在时间上呈逐年上升趋势。（2）数字普惠金融与城市绿色经济效率具有较高的空间相关性，均呈现“高高”和“低低”集聚特征。（3）数字普惠金融对城市绿色经济效率有显著影响，尤其在东部地区。（4）数字普惠金融对城市绿色经济效率的影响具有空间溢出效应。在东部和中部地区，数字普惠金融会抑制相邻城市的城市绿色经济效率提升；而在西部地区，它会促进相邻城市的城市绿色经济效率提升。（5）数字普惠金融的覆盖广度和使用深度对城市绿色经济效率有显著影响，而数字化程度尚未显示出显著影响。本文为推动各地区数字普惠金融协调发展及提升城市绿色经济效率提出了一些建议和参考。
