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【明理讲堂2022年第37期】10-4南昌大学李建强教授 :How does green finance affect green total factor productivity? Evidence from China

时间:10月4日(星期二)上午10:00-12:00

地点:#腾讯会议:165-848-935

报告人:南昌大学经济管理学院李建强 教授

主讲人简介:

李建强,1972年生,南昌大学经济管理学院教授,博导,杰出人才,国际能源经济与金融研究院负责人, 江西省创新领军人才。研究方向为能源经济学及绿色金融。在RePEc发布的全球经济学家排名位居亚洲前1%;获2021爱思唯尔“中国高被引学者”;以第一作者或通讯作者发表SSCI论文200余篇,被国内外同行引用17000余次。出版2本专著包括:全球能源经济发展的特征研究--评估、影响与比较分析; 现代能源经济学。发表的国际期刊包括Journal of Banking and Finance; Journal of Money, Credit and Banking; Ecological Economics; Energy Policy; Energy Economics; Energy Journal等。担任SSCI权威期刊Energy Economics 副主编,Applied Economics副主编,Emerging Markets Finance and Trade领域主编,Economic Analysis and Policy, Renewable & Sustainable Energy Reviews,Environmental Science and Pollution Research等客座主编, 客座主编出版的特刊主题包括绿色金融, 能源转型,及可持续发展等。

报告内容简介:

While the literature has studied various factors affecting green productivity growth, there is a relative dearth of empirical studies quantitatively analyzing the linkage between green finance development and green productivity. Based on a comprehensive index of green finance development, this research thus employs panel data of 30 China’s provinces for the period 2006-2018 to explore the influence of green finance on green total factor productivity (GTFP), revealing estimation results that green finance development significantly improves the level of green productivity. This beneficial effect tends to be stronger in provinces with higher levels of economic and social conditions, more public participation in environmental protection, and high pollution levels. We also find that implementing a green finance policy can further enhance the impact of green finance development. The empirical results herein offer policy implications to China’s green finance planning and environmental policy.

The contributions of the current research can be summarized as three-fold. First, we fill the gap in the literature on increasing awareness as to the importance of the green economy by exploring the connection between green finance and green productivity. Compared with the standard approach that considers green productivity is a function of scale, technology, and structure, we expand the theoretical framework by adding green finance development as an important influencing factor on GTFP. By doing so, more complete information about the causes of green productivity can be drawn not only from the real sector, but also from the financial sector. Second, compared to previous single-dimensional measures of green finance such as low-carbon financial flows and the amount of green credit or green investment, we extend existing research by introducing a thorough index system of green finance from the perspectives of green-oriented credit, securities, insurance, and investment to explore the role of green finance development on the green economy. The multidimensional index could provide a more complete evaluation on the development of green finance. Third, unlike previous works on traditional productivity that mainly considers good output, we apply the super-SBM model with undesirable output and solve the potential omission problem of energy and environmental constraints.

目前有很多文献研究了影响绿色生产力增长的各种因素,但定量分析绿色金融发展与绿色生产力之间关系的实证研究比较缺乏。本研究基于绿色金融发展综合指数,探讨绿色金融对绿色全要素生产率(GTFP)的影响。结果表明,绿色金融显著提高了GTFP,且在经济社会条件水平较高、公众参与环保程度较高、污染程度较高的省份,这种正向影响更加明显。本文还发现,实施绿色金融政策可以进一步增强绿色金融发展的影响。最后本文为中国的绿色金融规划和环境政策提供了相应的政策建议。

本文的研究贡献可以总结为三点。第一,本文通过探讨绿色金融与绿色生产力之间的关系来填补关于绿色经济重要性的认识一类的文献空缺。第二,与以往的绿色金融单维度指标相比,本文从绿色导向的信贷、证券、保现和投资角度引入了一套完整的绿色金融指标体系,以此来探讨绿色金融和绿色生产率之间的关系。第三,不同于传统的生产率衡量,本文应用Super-SBM模型,解决了能源和环境限制的潜在遗漏问题。

(承办:应用经济系、科研与学术交流中心、研究生教学中心)

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