摘要
在“双碳”目标背景下,推动制造业绿色转型成为经济高质量发展的关键路径。然而,制造业绿色转型具有高投入、长周期、高风险的特征,亟须金融体系提供系统性支持。绿色金融作为引导资金流向绿色产业和项目的新型金融业态,为制造业绿色转型提供了重要支撑。本文基于中国30个省份绿色金融发展指数的重构,深入剖析绿色金融发展驱动制造业绿色转型的内在机制,并进一步探讨政府行为对其效能发挥的作用边界。研究发现,绿色金融发展具有“减排”与“增效”的双重功效,显著推动了制造业绿色转型。机制检验表明,绿色金融发展主要通过制造业内部产业结构升级和绿色创新两条路径赋能制造业绿色转型。异质性分析发现,绿色金融发展对制造业绿色转型的赋能效应在非资源型地区、高数字技术地区和高市场中介服务水平地区更为显著。此外,作用边界检验表明,政治锦标赛竞争压力削弱了绿色金融发展对制造业绿色转型的促进作用,而绿色绩效考核机制则强化了绿色金融发展的效能发挥。本文的研究不仅丰富了绿色金融与制造业绿色转型的理论框架,还为政府制定差异化政策提供了实证依据。基于此,应构建政府、外部环境和市场三方协调的绿色金融发展模式,并建立动态评估机制,以充分释放绿色金融发展对制造业绿色转型的红利效应,助力“双碳”目标的实现。
Under the“dual carbon”target,promoting green transformation of the manufacturing industry is an important path to achieving high-quality economic development.However,green transformation of the manufacturing industry faces challenges such as high investment,long cycles,and high risks,which require strong support from the financial system.Green finance,as a new financial model that guides the flow of funds to green industries and projects,provides important support for green transformation of the manufacturing industry.This paper,based on reconstructing green finance development index of 30 provinces,deeply analyzes the mechanism of green finance development on green transformation of the manufacturing industry,and further analyzes the boundaries of the role of government behavior on its performance.The results show that green financial development plays the dual role of“reducing emissions and increasing efficiency”,and thus promotes green transformation of the manufacturing industry.Mechanism analysis reveals that green finance development primarily empowers green transformation of the manufacturing industry through two pathways:the upgrading of the industrial structure within the manufacturing sector and the advancement of green innovation.Heterogeneity analysis reveales that,the enabling effect of green finance development on green transformation of the manufacturing industry is more pronounced in non-resource-based regions,high digital technology regions,and with high market intermediary services levels regions.Furthermore,boundary effect tests indicate that the competitive pressure of political tournaments undermines the promoting effect of green finance development on green transformation of the manufacturing industry,whereas green performance assessment mechanism enhances the efficacy of green finance development.The research not only enriches the theoretical framework of green finance and green transformation of the manufacturing industry,but also provides empirical evidence for the government to formulate differentiated policies.Therefore,a green finance development model coordinated by government,external environment and market should be constructed,and a dynamic evaluation mechanism for green finance implementation should be established,so as to fully unleash the dividends of green finance development for green transformation of the manufacturing industry and contribute to the realizating the“Dual Carbon”goals.
作者
安勇
赵丽霞
张清华
AN Yong;ZHAO Lixia;ZHANG Qinghua(Shanxi University of Finance and Economics,School of Finance,Taiyuan 030006,China;Shanxi University of Finance and Economics,School of Management Science and Engineering,Taiyuan 030006,China;Shanxi Vocational University of Engineering Science and Technology,Jinzhong 030619,China)
出处
《商业研究》
北大核心
2025年第5期25-34,共10页
Commercial Research
基金
教育部人文社会科学研究规划项目“绿色金融发展驱动制造业绿色转型的机理、效应与对策研究”,项目编号:23YJA790001。
关键词
绿色金融发展
制造业绿色转型
政府行为
绿色创新
green finance development
green transformation of manufacturing industry
government behavior
green innovation
