Research On The Impact Of Digital Finance On Urban Air Qualit

Since the reform and opening up,China’s economic development has made remarkable achievements,but its extensive industrialization,urbanization has led to serious environmental pollution problems,environmental governance is the gap that must be crossed to achieve high-quality economic development.Among the many types of environmental pollution,air pollution is the most obvious and universal problem our country is facing at this stage,and its negative impact on economic and social development and public health can not be ignored.With the integration of digital technology and financial services,the emergence of digital finance has made up for the shortcomings of traditional finance,through digital technology to accurately identify green environmental protection enterprises and provide financial security for environment-friendly enterprises,forcing the transformation and upgrading of high-pollution and high-energy-consuming industries provides a practical financial scheme for air pollution control.In order to further investigate the impact of digital finance on urban air quality,this paper uses panel data of 281 cities at prefecture level and above from 2011 to2020,this paper explores the air governance effect of digital finance by constructing a two-way fixed effect model,and the empirical results show that digital finance can significantly reduce the emission of air pollutants,that is,digital finance can significantly improve urban air quality.After using the explanatory variable with a lag of one period and the instrumental variable method(IV)to deal with the endogenous problem,replacing the explanatory variable,changing the sample size,and eliminating the policy interference,the robustness test was carried out,the conclusion is still valid.Further mechanism analysis shows that digital finance can improve urban air quality by promoting green technology innovation and industrial structure upgrading.In addition,this paper constructs quantile regression model to describe the dynamic trajectory of the impact of digital finance on urban air quality,and examines the effect of digital finance on air pollution under different pollution levels,it is found that the inhibition intensity of digital finance on air pollutants shows a“Positive n-type” trend with the increase of pollution degree.At the same time,according to the city’s geographical location,human capital level,the level of entrepreneurial vitality of 281 city samples were analyzed,it was found that the improvement effect of digital finance on urban air quality was more obvious in cities with high Midwestern Sectional Figure Skating Championships,high human capital level and low entrepreneurial activity.Therefore,under the background of the rapid development of digital finance,we should actively encourage and guide the integration of digital finance and Green Finance,fully release the green value of digital finance,and optimize the spatial layout of digital finance,to realize coordinated development among regions,provide financial schemes and contribute to high-quality economic development and construction of ecological civilization.