| With the further promotion of economic green transformation,it is increasingly urgent to study the coordination between high economic quality and environmental requirements,especially in the aspect of carbon emissions,China adheres to the responsibility of a major country to deeply implement the "3060" double carbon target.Green finance,as an effective means of economic regulation and control of green environment,not only plays an important role in coordinating economic growth and green environment,but also plays a fundamental role in financial fields such as stable economic growth and economic structure optimization.However,Chinese economic development itself has the characteristics of unbalanced and inadequate geographical distribution,the green finance started late,there are also unbalanced green finance development,low efficiency and other problems,and the mechanism of our carbon emission target control is not clear.In 2021,the government Work Report proposed "Implementing special Policies of Financial Support for green and low-carbon development",further explaining the importance of carbon impact research of green finance.Centering on the above issues,this paper is divided into six parts:(1)This paper discusses the development process of green finance system and carbon emission system,clarifies the short-term and long-term significance of green finance and carbon emission control,and then combs the historical literature of green finance,carbon emission and the connection between the two.(2)The basic concept and theoretical basis of green finance and carbon emission are expounded,the evaluation system measurement index of green finance development and carbon emission control is constructed,the comprehensive evaluation index of green finance development is constructed by entropy method,the carbon emission efficiency index is measured by super efficiency SBM model,and the overall evaluation index of carbon emission is constructed comprehensively.(3)The interprovincial individual trends and spatial characteristics of green finance and carbon emission development from 2004 to 2020 were analyzed.(4)The paper theoretically analyzes the three functional mechanisms of green finance’s impact on carbon emissions,as well as the regulatory mechanisms of environmental policies and technology upgrading,and proposes relevant research hypotheses.(5)In terms of econometrics and statistics,this paper constructs a panel space effect model,uses entropy method to build an evaluation system of environmental regulations,measures the green total factor productivity with SBM model,selects an appropriate spatial model from the test results of spatial autocorrelation test,and analyzes the direct and indirect effects of green finance on carbon emissions based on this.Based on the hypothesis of mechanism analysis,the regulatory effects of environmental regulation and technology upgrading are analyzed.The empirical study shows that: 1)the development of green finance and the carbon emission composite index have spatial autocorrelation.The influence of green finance on the carbon emission composite index has negative spatial spillover effect in both the geographical distance dimension and the economic distance dimension.2)Environmental regulation has a positive moderating effect on the carbon emission composite index of green finance,and the impact of environmental regulation has a crowding out effect on green finance;3)Green total factor productivity has a positive moderating effect on the comprehensive carbon emission index of green finance.(6)According to the research conclusions,this paper puts forward some policy suggestions,such as improving the construction of green finance system,deepening the transformation of industrial structure and increasing the efforts of talent introduction,giving full play to the economic guidance role of green technology innovation,strengthening the efficiency management of environmental system,green technology research and development and economic transformation. |
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