摘要
推动绿色金融高质量发展是实现“双碳”目标和经济绿色转型的核心路径。尽管人工智能(AI)已在金融领域得到广泛应用,但通过人工智能推动绿色金融发展尤其是结合国家新一代人工智能创新发展试验区政策的研究,仍然缺乏充分的因果识别与系统性实证分析。以国家新一代人工智能创新发展试验区政策为准自然实验,基于2007—2023年我国284个地级及以上城市的面板数据,构建多时点双重差分模型,评估人工智能对绿色金融的影响及其内在机制。研究发现,人工智能显著促进城市绿色金融发展,该结论在一系列稳健性检验与内生性处理后依然成立。机制分析结果表明,人工智能通过提高能源利用效率、推动绿色经济效率提升以及增强绿色创新能力,有效缓解绿色金融发展中长期存在的信息不对称和资源配置不合理问题。异质性分析结果显示,人工智能对绿色金融的促进效应在东部地区、经济较为发达地区以及资源型城市表现得更显著。进一步分析结果表明,数字基础设施和市场化效率对人工智能推动绿色金融发展具有显著的增强作用。完善的数字基础设施为人工智能提供强有力的支持,而较高的市场化效率能够进一步激发人工智能在绿色金融发展中的应用潜力,推动政策效应的放大。政府应继续加大对绿色金融和人工智能结合领域的政策支持,特别是在绿色金融改革创新试验区的推进上提供财政支持、技术补贴和政策保障;鼓励创新型金融产品的研发,优化绿色投资机会的识别与评估机制,支持绿色金融市场深度整合;加强绿色金融信息的透明化和公开化,推动环境信息披露标准化,增强市场的信任度和透明度;鼓励金融机构、企业以及学术界跨部门合作,共同推动绿色金融的创新和智能化发展。
Promoting high-quality development of green finance is the core path to achieving the"dual carbon"(carbon peaking and carbon neutrality)goals and driving the green transformation of the economy.Despite the widespread application of Artificial Intelligence(AI)in the financial sector,research on promoting green finance development through AI,especially in conjunction with the policies of the National New Generation Artificial Intelligence Innovation Development Pilot Area,still lacks sufficient causal identification and systematic empirical analysis.Using the policy of the National New Generation Artificial Intelligence Innovation Development Pilot Area as a quasi-natural experiment,based on panel data from 284 prefecture-level and above cities in China between 2007 and 2023,the authors construct a multiple time-point difference-in-differences model to assess the impact of AI on the development of green finance and its underlying mechanisms.It is found that AI significantly promotes the development of urban green finance,and this conclusion remains valid after a series of robustness tests and treatment of endogeneity.Mechanism analysis shows that AI effectively alleviates long-term issues of information asymmetry and irrational resource allocation in the development of green finance by improving energy utilization efficiency,enhancing green economic efficiency,and boosting green innovation capabilities.The results of heterogeneity analysis show that the promoting effect of AI on green finance development is more significant in the eastern regions,economically developed areas,and resource-based cities.Further analysis indicates that digital infrastructure and market efficiency play a significant role in enhancing AI's contribution to green finance development.Well-developed digital infrastructure provides strong support for AI,while higher market efficiency can further stimulate AI's application potential in green finance development,amplifying the policy effects.The government should,first,continue to strengthen policy support for the integration of green finance and AI,especially in the promotion of green finance reform and innovation pilot areas,providing financial support,technological subsidies,and policy guarantees;second,the government should encourage the development of innovative financial products,optimize the identification and evaluation mechanisms for green investment opportunities,and support the deep integration of the green finance market;third,the government should strengthen the transparency and openness of green finance information,promote the standardization of environmental information disclosure,and enhance market trust and transparency;and fourth,the government should encourage cross-sector collaboration among financial institutions,businesses,and academia to jointly promote innovation and intelligent development in green finance.
作者
张林凤
周兵
ZHANG Lin-feng;ZHOU Bing(Institute For Chengdu-Chongqing Economic Zone Development,Chongqing Technology and Business University,Chongqing 400067,China;School of Accounting,Chongqing Technology and Business University,Chongqing 400067,China)
出处
《中国流通经济》
北大核心
2025年第11期112-126,共15页
China Business and Market
基金
重庆人文科技学院工商学院成渝地区双城经济圈中小城市发展研究中心2025年度项目“数字经济对中国省域制造业碳排放效率的影响研究”(25CRKCYPT02)。
关键词
人工智能
绿色金融
能源效率
绿色经济效率
绿色创新
artificial intelligence
green finance
energy efficiency
green economic efficiency
green innovation
