金融集聚、基础支撑与城市绿色创新——来自长江经济带的经验证据

高洪玮

（中国社会科学院）

 

     内容提要：在中国市场导向的绿色技术创新体系下，城市层面金融集聚态势的增强能否有效激励绿色创新主体，推进绿色创新发展？本文采用长江经济带沿线108个地级城市2005—2019年面板数据，分析金融集聚对绿色创新的影响，并基于金融集聚因素和绿色创新基础支撑因素考察其中的非线性特征。研究结果显示：长江经济带金融集聚促进了沿线城市的绿色创新，在替换变量、内生性处理以及纳入空间关联后结论依然成立；同时，长江经济带金融集聚对绿色创新的影响具有门限效应，当金融集聚、金融深化以及居民收入、创新型人力资本、环境规制程度和政府科技支持等基础支撑因素处于较高水平时影响更为突出；此外，长江经济带金融集聚对绿色创新的影响具有地区差异，下游城市群的正向影响最强，中游次之，上游无显著影响，中上游城市群较低的金融集聚和金融深化水平以及上游城市群较弱的环境规制程度和政府科技支持力度制约了金融集聚作用的充分发挥。未来应从金融集聚因素和绿色创新基础支撑因素双重发力，聚焦城市发展阶段和特征差异，有序梯次推进金融集聚高效支持绿色创新发展。　　

关键词：金融集聚；绿色创新；基础支撑；长江经济带；门限效应

作者简介：高洪玮，中国社会科学院数量经济与技术经济研究所助理研究员，北京，100732。

基金项目：国家自然科学基金青年科学基金项目“主体异质性视角下国家战略科技力量推进关键核心技术创新的效应、路径与对策研究”（72304276）；中国社会科学院“青启计划”（2024QQJH122）；“中国社会科学院经济大数据与政策评估实验室”（2024SYZH004）

引用格式：高洪玮.金融集聚、基础支撑与城市绿色创新——来自长江经济带的经验证据[J].经济与管理研究,2024,45(5):96-113.DOI:10.13502/j.cnki.issn1000-7636.2024.05.006.

　　

　　

Financial Agglomeration, Basic Support, and Urban Green Innovation

—Empirical Evidence from the Yangtze River Economic Belt

GAO Hongwei

(Chinese Academy of Social Sciences, Beijing 100732)

　　

　　Abstract: Under the market-oriented green innovation system, the enhancement of financial agglomeration at the city level can effectively motivate innovation entities and play an important role in promoting green innovation.Taking the Yangtze River Economic Belt (YEB) as an example is not only representative, but also conducive to better leveraging the driving role of financial centers and promoting the integrated and green development of cities along the line. However, there is little systematic analysis in the existing studies. Therefore, this paper investigates the impact of financial agglomeration on green innovation and examines the nonlinear characteristics of the impact under financial agglomeration factors and basic support factors of green innovation based on the data of 108 prefecture-level cities along the YEB from 2005 to 2019.

The findings show that financial agglomeration in the YEB effectively promotes green innovation in cities along the YEB. This conclusion still holds after robustness tests. Furthermore, this promotion exhibits a threshold effect, which becomes more prominent when financial agglomeration, financial deepening, resident income, innovative human capital, environmental regulation degree and government support for science and technology remain at a high level. In addition, there are significant regional differences in this impact. The positive impact of financial agglomeration on green innovation is the most pronounced in downstream urban agglomerations, followed by midstream ones. In contrast, no significant impact is observed in upstream urban agglomerations. The lower levels of financial agglomeration and financial deepening in midstream and upstream urban agglomerations, as well as those of environmental regulation and government support for science and technology in upstream urban agglomerations, restrict the impact.

Possible contributions of the paper include the following aspects. Firstly, it uses the YEB as an example to examine the impact of financial agglomeration on green innovation, which provides more empirical evidence for existing research. Secondly, based on financial agglomeration factors and the basic supporting factors of green innovation, it explores the nonlinear impact of financial agglomeration on green innovation, expanding existing research. Thirdly, it deeply analyzes the regional differences in the impact of financial agglomeration on green innovation in the YEB, providing policy references for cities along the YEB to further play a positive role.

Based on the findings, the following policy recommendations are proposed. Firstly, it is crucial to pay attention to the positive role of financial means in promoting green innovation and focus on accelerating financial deepening and improving urban financial agglomeration. Secondly, efforts need to be made to strengthen the basic supporting factors of green innovation and better play the role of financial agglomeration in promoting green innovation. Thirdly, differentiated development goals should be established to promote the positive impact of financial agglomeration on green innovation in different cities.

　　Keywords: financial agglomeration; green innovation; basic support; Yangtze River Economic Belt; threshold effect

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