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中南大学学报(社会科学版)
ZHONGNAN DAXUE XUEBAO(SHEHUI KEXUE BAN)

2024年03月第30卷第2期
   
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文章编号:1672-3104(2024)02-0114-17
 
绿色金融增强制造业韧性的机理及效应研究
 
柴正猛,邓雨田,韩先锋
 
(昆明理工大学管理与经济学院,云南昆明,650504)
 
摘  要: 在“双碳”目标和高质量发展的背景下,探究绿色金融如何增强制造业韧性具有重要意义。基于2012—2021年的省域面板数据,考察了绿色金融增强制造业韧性的机理与效应。研究结果显示:绿色金融能够显著增强制造业韧性,且绿色金融对新能源制造业韧性的积极影响大于高污染、高能耗制造业,对东部地区制造业韧性的正向作用强于中、西部地区;从分位数回归结果可见,随着制造业韧性水平的提升,绿色金融对其影响效应呈波动的倒“U”型特征;中介机制检验发现,绿色金融可以通过扩大绿色消费、推动产业升级和加速产业集聚,间接增强制造业韧性;调节机制检验表明,政府补贴和技术创新能够强化绿色金融对制造业韧性的促进作用,且二者对新能源制造业韧性的强化效果更为明显。研究结果为提升绿色金融的赋能作用以及增强制造业韧性提供了重要启示。
 
关键词: 绿色金融;制造业韧性;中介效应;调节效应
 
 
The mechanism and effect research of green finance enhancing the resilience of manufacturing industry
 
CHAI Zhengmeng, DENG Yutian, HAN Xianfeng
 
(Faculty of Management and Economics, Kunming University of Science and Technology, Kunming 650504, China)
 
Abstract: In the context of the "dual carbon" goals and high-quality development, it is of great significance to explore how green finance can enhance the resilience of the manufacturing industry. Based on the provincial panel data from 2012 to 2021, the study has investigated the mechanism and effect of green finance enhancing the resilience of manufacturing industry. The research results show that green finance can significantly enhance the resilience of manufacturing industry, that the positive impact of green finance on the resilience of new energy manufacturing industry is greater than that of high pollution and high energy consumption manufacturing industry, and that the positive effect on the resilience of manufacturing industry in the eastern region is stronger than that in the central and western regions. The quantile regression results suggest that with the improvement of the resilience level of the manufacturing industry, the impact of green finance on it shows a fluctuating inverted U-shaped feature. The intermediary mechanism test finds that green finance can indirectly enhance the resilience of the manufacturing industry by expanding green consumption, promoting industrial upgrading, and accelerating industrial agglomeration. And the regulatory mechanism test reveals that government subsidies and technological innovation can strengthen the promoting effect of green finance on the resilience of the manufacturing industry, and the strengthening effect of both on the resilience of the new energy manufacturing industry is more significant. The findings provide important implications for enhancing the empowerment of green finance and enhancing the resilience of manufacturing.
 
Key words: green finance; manufacturing resilience; mediation effect; regulatory effect
 
 
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