| 金融集聚与绿色发展：基于水平与效率的双维视角 |
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| 引用本文： | 袁华锡,刘耀彬.金融集聚与绿色发展：基于水平与效率的双维视角[J].科研管理,2006,40(12):126-143. |
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| 作者姓名： | 袁华锡 刘耀彬 |
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| 作者单位： | 1.南昌大学 经济管理学院,江西 南昌330031;;
2. 肯特州立大学 地理系,俄亥俄州 肯特市44240 |
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| 摘 要： | 事实上,只有结合水平与效率两个维度评价绿色发展才能科学认识中国绿色发展现状,而二者往往被人为的割裂开来。虽然金融集聚在绿色发展过程起着至关重要的作用,但是受制于信息非对称性影响,金融集聚对绿色发展的空间衰减边界特征并没有得到普遍重视,其非线性约束机制更是长期受到忽视。本文选取2003—2015年中国285个地级及以上城市的面板数据,首先,从水平与效率视角全面评估绿色发展现状,初步检验了金融集聚与绿色发展的时空非均衡冲击特征;其次,借鉴STIRPAT模型,将地理距离矩阵与技术距离矩阵纳入空间面板杜宾模型,实证分析金融集聚对绿色发展的空间衰减边界;最后,利用面板门槛模型对比分析金融集聚与绿色发展在不同门槛约束下的影响差异,得到以下结论：（1）金融集聚对绿色发展水平或绿色发展效率的影响在时空上都呈现出显著的非对称效应,初步说明金融集聚对绿色发展的影响存在空间依赖性和非线性冲击。（2）金融集聚对邻近地区绿色发展水平影响是一个“先负后正再负”的空间衰减过程,其影响范围大致在400KM或600KM范围内,而金融集聚对邻近地区绿色发展效率的影响则随距离的增大呈现“W”型冲击,且整体上以负向作用为主,其影响范围大致在800KM内,此外,信息技术水平的发展明显有助于增强金融集聚的空间溢出效应。（3）提高金融集聚能够改善金融集聚对绿色发展水平的抑制作用,但伴随着金融集聚的增强,金融集聚对绿色发展效率的促进作用却在显著减弱;只有适度的城市规模才能激发金融集聚对绿色发展水平的促进作用,无论城市规模过大抑或过小都不利于金融集聚作用的发挥,但金融集聚对绿色发展效率的提升作用却不依赖于城市规模的扩张;信息技术的发展,不能强化金融集聚对绿色发展水平的促进作用,但却可以增强金融集聚对绿色发展效率的带动作用。
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| 收稿时间： | 2018-10-25 |
Financial agglomeration and green development efficiency:A two-dimensional perspective based on level and efficiency |
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| Yuan Huaxi,Liu Yaobin.Financial agglomeration and green development efficiency:A two-dimensional perspective based on level and efficiency[J].Science Research Management,2006,40(12):126-143. |
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| Authors: | Yuan Huaxi Liu Yaobin |
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| Institution: | 1. School of Economicand Management, Nanchang University, Nanchang 330031, Jiangxi, China;
2. Department of Geography, Kent State University, Kent 44240, Ohio, USA |
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| Abstract: | Only by combining the perspective of level and efficiency can the state of China’s green development be scientifically understand. However, the two aspects are often separated artificially, which leads to the deviation from analysis and reality. Financial agglomeration plays a vital role in the process of green development. Affected by information asymmetry, financial agglomeration not only shows spatial spillover effect on green development, but also shows spatial attenuation trend, but the spatial attenuation boundary feature has not received universal attention. In addition, as the influence of today’s society on the spatial spillover of financial agglomeration is no longer limited to geographical distance, the existing studies ignore the alleviating effect of modern information technology on geographical distance friction. More importantly, the nonlinear constraint mechanism between financial agglomeration and green development has not attracted enough attention in academic circles. Therefore, in-depth analysis of the complex impact of financial agglomeration on green development can not only be used to observe the regularity of the evolution process of financial agglomeration, but also provide empirical evidence for financial agglomeration to support green development, thus explore a new path suitable for green development in China.The main contribution of this study to the literature is threefold. First, this paper scientifically and objectively evaluates China’s green development from the perspective of level and efficiency. Second, the empirical research not only focuses on the spatial spillover of financial agglomeration to green development, but also pays more attention to the exploration of the spatial attenuation boundary of financial agglomeration, and the impact of information technology on the relationship between financial agglomeration and green development is excavated. Third, this paper also makes an in-depth study of the constraint conditions that lead to the nonlinear impact of financial agglomeration and green development, and grasp the differences in the impact of financial agglomeration on green development under different threshold constraints. The article is organized as follows. In Section1, theintroduction are briefly interpreted. In Section 2, the research design and measurement methods are introduced. In Section 4, the empirical results are discussed. In Section 4, the main conclusions and related policy implications are provided. By using the statistics of Chinese 285 cities level panel data from 2003 to 2015, firstly the status quo of green development is comprehensively evaluated from the perspective of level and efficiency, and thespatio-temporal disequilibrium impact characteristics of financial agglomeration and green development are preliminarily tested. Secondly, using STIRPAT model as reference, the spatial distance matrix and technical distance matrix are incorporated into the spatial panel Dubin model to analyze the spatial attenuation boundary of financial agglomeration on green development. Finally, the panel threshold model is used to analyze and compare the influence differences between financial agglomeration and green development under different threshold constraints. The conclusions are as follows: (1) The impact of financial agglomeration on the level and the efficiency of green development presents a significant asymmetric effect in space and time, which indicates that the impact of financial agglomeration on green development is spatially dependent and non-linearly impacted. (2) The influence of financial agglomeration on green development level of neighboring regions is a spatial attenuation process that "first negative, then positive and then negative", its scope is roughly within 400 km or 600 km. With the increase of distance, the influence of financial agglomeration on green development efficiency of neighboring regions presents a "W" shape impact, and the impact is mainly negative, its scope is roughly within 800km. In addition, the development of information technology can obviously promote the spatial spillover effect of financial agglomeration. (3) Improving financial agglomeration can improve the inhibiting effect of financial agglomeration on green development level; but with the enhancement of financial agglomeration, the promoting effect of financial agglomeration on green development efficiency is significantly weakened. Only a moderate city size can stimulate the role of financial agglomeration in promoting the green development level, if the city size is too large or too small, it is not conducive to the role of financial agglomeration; however, the role of financial agglomeration in improving the efficiency of green development does not depend on the expansion of city size. The development of information technology cannot strengthen the promoting effect of financial agglomeration on green development level; but it can enhance the promoting effect of financial agglomeration on green development efficiency.On the basis of the above analysis, this study provides some policy implications for the policy formulation of using financial agglomeration to promote China’s green development, as follows. (1) The implementation of green development should focus on both level and efficiency. Green development is not only reflected in the increase of level, but also in the improvement of efficiency. Only by fully tapping into and improving the efficiency of green development can we continuously promote China’s green development and realize the grand goal of building a beautiful China. (2) When formulating policies on the spatial layout of financial resources, the characteristics of spatial spillover effect and spatial boundary attenuation of financial agglomeration should be taken into account to identify the differences in the influence of financial agglomeration on the level and efficiency of green development. First, It is necessary to give full play to the spillover effect of financial concentration. Regional cooperation and regional labor division should be adopted to strengthen exchanges between the financial industry and related industries, enhance financial business contacts between cities, and form a high-level financial network with good connectivity and strong interoperability, so as to fully release the space spillover dividends of financial agglomeration. Second, the constraint of administrative boundary and the barrier of natural boundary should be removed. Meanwhile, the construction of multi-level financial center should be promoted through modern technology and information technology to make up for the adverse impact caused by spatial distance barrier. Third, while using financial agglomeration to comprehensively improve the level of green development, more attention should be paid to synergetic technology, information and other elements to improve the efficiency of green development. (3) In the process of promoting China’s green development by relying on financial agglomeration, we should promote the coordinated development of financial agglomeration, city scale and information technology level. First, efforts should be made to raise the level of financial agglomeration, encourage enterprises to make independent innovation and improve the level of green development through a series of preferential policies; meanwhile, efforts should be made to develop modern information technology, green industrial technology and environmental protection technology to improve the efficiency of green development. Second, according to the actual situation of each region, urban construction should be reasonably planned, urban scale should be controlled, and urban quality of life should be guaranteed, because only moderate urban scale can promote green development, if the city size is too large or too small, it is not conducive to the role of financial agglomeration. Last but not least, we should improve the level of information technology, and adjust measures to local economic development conditions and development stage; at the same time, we should attach enough importance to the construction of regional information technology and strive to improve the overall level of information technology, thus make the financial center and the neighboring areas achieve positive interaction and mutual progress. |
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