Data factor agglomeration and urban green finance: A quasi-natural experiment based on the National Big Data Comprehensive Pilot Zone

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2024-11-01 DOI:10.1016/j.irfa.2024.103732

Huizong Wang , Yulong Hao , Qiang Fu

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引用次数: 0

Abstract

Using panel data from 246 cities in China from 2008 to 2021, we investigate the impact of data factor agglomeration on the development of urban green finance through a quasi-natural experiment based on the National Big Data Comprehensive Pilot Zone. Findings reveal that the effect of data agglomeration, characterized by the construction of big data comprehensive pilot zone, has significantly improved urban green finance development in the pilot zones. Further research shows that data factor agglomeration can expand the development scale of urban green finance by promoting industrial structure upgrading and improve the development efficiency of urban green finance by driving innovation in digital technology, both of which can promote urban green finance development. Furthermore, the impact of data factor agglomeration on urban green finance development is influenced by geographic location and urban administrative level, with greater significance for cities in the eastern region and those with high administrative levels. Meanwhile, the human capital level and environmental regulation strength positively moderate the efficacy of the data factors' agglomeration. Our study explores the effective and realistic approaches to promote the development of urban green finance from the perspective of data factor agglomeration, providing a reference for countries to accelerate the construction of good data factor ecosystems and promote green finance reform in depth.

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数据要素集聚与城市绿色金融：基于国家大数据综合试验区的准自然实验

利用 2008 年至 2021 年中国 246 个城市的面板数据，通过基于国家大数据综合试验区的准自然实验，研究了数据要素集聚对城市绿色金融发展的影响。研究结果表明，以大数据综合试验区建设为特征的数据集聚效应显著提升了试验区城市绿色金融发展水平。进一步的研究表明，数据要素集聚可以通过促进产业结构升级扩大城市绿色金融的发展规模，也可以通过推动数字技术创新提高城市绿色金融的发展效率，两者都能促进城市绿色金融的发展。此外，数据要素集聚对城市绿色金融发展的影响还受到地理位置和城市行政级别的影响，东部地区和行政级别较高的城市对城市绿色金融发展的影响更为显著。同时，人力资本水平和环境监管力度对数据要素集聚效应具有正向调节作用。我们的研究从数据要素集聚的角度探索了促进城市绿色金融发展的有效现实途径，为各国加快构建良好的数据要素生态系统、深入推进绿色金融改革提供了参考。

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

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.