A Study On The Efficiency Of Green Innovation And Its Influencing Factors From The Perspective Of Science And Technology Finance

The Yangtze River Economic Belt runs through the heartland of China,with a vast economic hinterland connecting the three major regions of the east,middle,and west.It is one of the "three major strategies" that the central government focuses on implementing.The basin has a large population and industrial scale,and there are many heavy chemical industries along the Yangtze River Economic Belt.The previous extensive development model of high investment and high pollution has seriously damaged the ecology.To change the traditional extensive development model,it is necessary to rely on the support of technology and finance,Technology can change high-polluting production methods and enhance the treatment capacity of industrial wastewater and waste by improving green technology.Finance can provide financial support and incentives for improving the ecological environment of the Yangtze River Economic Belt.Technology and finance can help build the Yangtze River Economic Belt into a green ecological corridor that is coordinated between upstream,midstream,and downstream,and harmonious between humans and nature.This article first takes the Yangtze River Economic Belt as the research object,adopts a three-stage DEA model,and constructs indicators based on the perspective of technology and finance.It measures the green innovation efficiency of 11 provinces in the Yangtze River Economic Belt from 2011 to 2020,decomposes it into technical efficiency and scale efficiency,and then analyzes the green innovation efficiency in the upstream,middle,and downstream of the Yangtze River Economic Belt.The results indicate that,firstly,overall,there are significant regional differences in the green innovation efficiency of the Yangtze River Economic Belt,and there is still a lot of room for improvement.The best developed region is the downstream of the Yangtze River Economic Belt,followed by the middle reaches,and the worst developed region is the upstream.Secondly,in terms of horizontal comparison,in the development of green innovation efficiency in the upstream of the Yangtze River Economic Belt,Yunnan Province has the highest green innovation efficiency value,while Guizhou Province has the lowest comprehensive green innovation efficiency value among the four provinces.In the development of green innovation efficiency in the middle reaches,the comprehensive efficiency values of green innovation in Jiangxi Province,Hubei Province,and Hunan Province are all below 0.9.In the development of downstream green innovation efficiency,the comprehensive efficiency values of green innovation in Jiangsu Province,Zhejiang Province,and Anhui Province are all higher than0.95.However,the green innovation efficiency in Shanghai is relatively low.The reason is that the green output in Shanghai is relatively low compared to the investment in Shanghai,and the growth of output cannot catch up with the added value of technology and finance investment,resulting in redundant investment in green innovation technology and finance.Thirdly,in terms of vertical comparison,the overall green innovation comprehensive efficiency of the Yangtze River Economic Belt has improved,but there have been significant fluctuations during the decade of development.From 2011 to 2012,the overall green innovation efficiency of the Yangtze River Economic Belt increased,decreased from 2012 to 2014,increased from 2014 to 2015,decreased from 2015 to 2016,increased from 2016 to 2019,and decreased from 2019 to 2020.Secondly,five factors were selected: environmental regulation level,talent development level,innovation income level,innovation development level,and green investment level.Tobit model was used for panel regression to empirically analyze the factors that may affect the efficiency of green innovation in the Yangtze River Economic Belt.The empirical results show that the level of environmental regulation,innovation and development,and green investment all have a positive and significant impact on the green innovation efficiency of the Yangtze River Economic Belt.The level of talent development has a negative impact on the green innovation efficiency of the Yangtze River Economic Belt.Although the level of innovation income has a certain positive impact on the green innovation efficiency of the Yangtze River Economic Belt,it is not significant.Finally,countermeasures and suggestions were proposed to improve the efficiency of green innovation in the Yangtze River Economic Belt.