The impact of digital finance on energy total factor productivity

3区经济学 Q1 Economics, Econometrics and Finance

Economic Research-Ekonomska Istrazivanja Pub Date : 2023-10-30 DOI:10.1080/1331677x.2023.2263535

Yanling Li, Mengxin Wang, Gaoke Liao, Ran Gu

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Abstract

In the context of modern scientific and technological revolution and industrial transformation, the development of digital finance is conducive to improving the ecological environment and the energy total factor productivity (TFP). In this paper, DEA cross-efficiency model is used to measure the energy TFP, and moment estimation method is used to empirically test the influence and heterogeneity of digital finance on energy TFP, and then the intermediary model is constructed to study and analyze the influence mechanism based on the sample data of 30 provinces in the Chinese Mainland from 2011 to 2018. The following research findings are obtained. First, the development of digital finance has played a significant role in improving energy TFP. Second, spatial heterogeneity exists in the process of digital finance affecting energy TFP improvement, that is, digital finance has a more obvious improvement effect on the energy TFP in central and western China than in eastern China. Third, digital finance can affect energy TFP through technological innovation; that is, the improvement of regional technological innovation is an important transmission mechanism for digital finance to affect energy TFP.

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数字金融对能源全要素生产率的影响

在现代科技革命和产业转型的大背景下，发展数字金融有利于改善生态环境，提高能源全要素生产率。本文采用DEA交叉效率模型对能源TFP进行测度，采用矩估计法实证检验数字金融对能源TFP的影响及其异质性，并基于2011 - 2018年中国大陆30个省份的样本数据构建中介模型，研究分析影响机制。研究结果如下:第一，数字金融的发展对提高能源全要素生产率发挥了重要作用。第二，数字金融对能源TFP提升的影响存在空间异质性，即数字金融对中西部地区能源TFP的提升作用比东部地区更为明显。第三，数字金融可以通过技术创新影响能源全要素生产率;即区域技术创新的提升是数字金融影响能源全要素生产率的重要传导机制。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economic Research-Ekonomska Istrazivanja ECONOMICS-

CiteScore

7.10

自引率

0.00%

发文量

351

审稿时长

45 weeks

期刊介绍： Economic Research-Ekonomska Istraživanja publishes rigorous scientific papers which make a significant contribution to any field of economics – theoretical, applied or empirical – with special attention given to experiences of the transition from socialism to market economies in Eastern Europe. New research on regional development in other geographical areas is welcomed, particularly papers addressing theoretical and empirical issues in economics for countries in transition and former transitional economies. The journal encourages submissions that explore broad economic topics that can contribute to the development of economics as a discipline, discussing important economic issues both from an orthodox or heterodox point of view.