Research On Carbon Emission Reduction Effect Of Digital Finance In The Perspective Of Time And Space

It is an important strategic decision for China to set the goal of achieving carbon peak and carbon neutrality,so as to enable green transformation development.To realize this systematic project,we need the joint efforts from central and local governments,from industries to individuals.Digital finance has the characteristics of digital,financial and inclusive,and it can lower the threshold of financial services and bring more benefits and convenience to the society at various levels.At the same time,digital finance has also played a strong role in promoting the development of green and low-carbon way of production and life,becoming an important perspective of carbon emission reduction work.Carbon emission and digital finance development are two important propositions that cannot be ignored to achieve high-quality economic and social development in contemporary China,and the relationship between them is worth exploring.Firstly,this thesis sorts out and reviews the relevant literature,basic theories and development status of digital finance and carbon emissions respectively,and analyzes the theoretical mechanism of digital finance affecting carbon emissions.Secondly,a spatial econometric model is constructed based on the panel data of 30 provinces,cities and autonomous regions in China during 2011-2020.According to the results of the empirical study,it can be found that the carbon emission of the local region has a positive spatial spillover effect on the carbon emission of the neighboring region.The development of digital finance can effectively reduce the carbon emission,and the carbon emission reduction effect of digital finance has been significantly reflected in this region and neighboring regions.The development of digital finance mainly realizes the carbon emission reduction effect in the region in the short term.Thirdly,a geographically and temporally weighted regression model was established to study the spatiotemporal heterogeneity of carbon emissions affected by digital finance.The study found: digital finance can significantly reduce carbon emission and carbon emission intensity.Specifically,the improvement of overall level of digital finance can significantly reduce carbon emissions and carbon emission intensity,and the improvement of digital finance breadth,depth,credit level and payment level also plays a significant role in carbon emission reduction;At the same time,the level of economic development,the level of technological development and the level of foreign investment utilization also have significant carbon emission reduction effects,and the level of higher education and the level of energy consumption have significant carbon emission increase effects;All factors have spatio-temporal heterogeneity on carbon emissions,but the carbon emission reduction effect of digital finance tends to weaken.In addition,the carbon emission reduction effect of digital finance in northern China is stronger than that in southern China;Digital finance has diminishing marginal utility on carbon emission and carbon emission intensity,that is,it has a greater impact on carbon emission reduction in the initial stage.Finally,in view of how digital finance can reduce carbon emissions,this thesis summarizes three impact paths from the theoretical level,including the path of "optimizing and upgrading industrial structure",the path of "improving technological innovation level" and the path of "optimizing resource allocation",and constructs a transfer effect model to analyze and verify these three impact paths.