Research On The Impact And Countermeasures Of Digital Inclusive Finance To Urban Green Innovation Efficiency

Under the China’s new normal,it is required to implement an innovation-driven strategy closely following the concept of green development.As a gathering place for green innovation activities,the green innovation’s level is crucial to promoting high-quality economic development.Digital inclusive finance has the characteristics of low cost,high efficiency and a wide range of services,and has become the driving force for promoting the development of urban green innovation.Therefore,studying the impact of digital financial inclusion on the efficiency of urban green innovation is of great significance for developing digital financial inclusion and improving the efficiency of urban green innovation.This paper refers to the digital financial inclusion index and its three subdivision dimensions provided by the Digital Finance Research Center of Peking University,uses the panel data of 271 prefecture-level cities in my country from 2011 to 2017,and adopts the SBM-DEA efficiency measurement model to evaluate the greenness of the prefecture-level cities.To measure innovation efficiency,the mediation effect model is mainly used to analyze the effect of digital inclusive finance on urban green innovation efficiency from different perspectives.The results show that: the impact effect shows that digital financial inclusion has an effect on the efficiency of urban green innovation in general.From a structural point of view,the breadth of coverage,the depth of use and the degree of digitization can have an energetic influence on the efficiency of urban green innovation.The breadth of coverage and the degree of digitization,and the depth of use have a greater impact;regional studies show that digital inclusive finance has a stronger effect on the improvement of green innovation efficiency in the eastern region than other regions;the mechanism shows that under the influence of digital inclusive finance,the four variables of financing constraints,R&D subsidies,consumption upgrades and environmental regulation have significant mediating effects on the efficiency of urban green innovation,that is digital inclusive finance can have a significant effect on the efficiency of urban green innovation through these four mechanisms.The promotion effect of the city is 0.0033,0.0085,0.0043 and 0.0183 respectively.And the four mechanisms of financing constraints,R&D subsidies,consumption upgrades and environmental regulation have significant positive influence on the efficiency of urban green innovation under the action of three sub-dimensions.Among them,the influence of coverage is larger,the influence of depth of use and degree of digitization is small.Finally,based on theoretical thinking and discussion of empirical results,suggestions for the development of digital inclusive finance are put forward to promote the development of urban green innovation in China.Finally,through theoretical thinking and discussion of empirical results,countermeasures and suggestions are put forward to develop digital inclusive finance to improve the efficiency of urban green innovation: first,to improve the development system of digital inclusive finance,including further improving digital infrastructure,supervision system and overall planning for the development of digital financial inclusion in various regions;second,optimize the financing restraint mechanism by improving the credit reporting system and improving the financing environment;third,optimize the government subsidy mechanism by formulating subsidy policies according to local conditions and setting up special subsidy funds for digital inclusive finance;fourth,Optimize the consumption upgrade mechanism by stimulating residents’ green consumption and improving the financial literacy of consumer groups;fifth,optimize the environmental regulation mechanism by rationally allocating digital inclusive financial resources and improving the effectiveness of green investment.