Abstract
Innovation is the first driving force for development, and green innovation efficiency (GIE) plays a very important role in regional sustainable development. Data from 31 provinces and cities in China from 2011 to 2020 were used to select the proportion of energy saving and environmental protection costs in GDP as the green financial value, and the proportion of industrial pollution control input in GDP as the environmental regulation index. Green innovation efficiency is measured from two aspects of input and output by DEA method, and carried out for 31 provinces and cities in three regions. Using the DEA-Malmquist index to measure regional green innovation efficiency, the results show that the green innovation efficiency in three regions basically presents an upward trend, but the upward trend of green innovation efficiency is different between the three regions. A Tobit regression model is constructed to explore the impact of green finance and environmental regulations on the green innovation efficiency in these three regions. Research indicates that environmental regulations, the proportion of output value of tertiary industry in GDP, industrial structure, and foreign direct investment have significant impacts on the green innovation efficiency in all regions. Green finance, industrial structure, and power consumption have a significant impact on the green innovation efficiency in eastern China. Industrial structure has a significant impact on green innovation efficiency in central China, while power consumption and industrial structure have a significant impact on green innovation efficiency in western China. Therefore, each region needs to improve the standard of environmental regulation innovation, and introduce and use foreign investment in a scientific and reasonable way so as to promote the improvement of industrial infrastructure.
Highlights
On 11 November 2021, the latest important meeting of the Sixth Plenary Session of the19th Central Committee pointed out the coordinated promotion of the “four comprehensive”strategy
Using the panel data from 2011 to 2020 in China, the ratio of environmental protection expenditure to GDP is selected as the green financial value, and the ratio of industrial pollution prevention and control input in GDP is selected as the environmental regulation indicator
The green innovation efficiency (GIE) is measured by the data envelopment analysis (DEA) method
Summary
On 11 November 2021, the latest important meeting of the Sixth Plenary Session of the19th Central Committee pointed out the coordinated promotion of the “four comprehensive”strategy. On 11 November 2021, the latest important meeting of the Sixth Plenary Session of the. More than 70% of the cities in China have been plagued by smog for a long time, and the ambient air quality is not up to standard. At an important meeting on finance and economics on 15 March 2021, General Secretary Xi once again pointed out that carbon peaking and carbon neutrality should be highly valued, demonstrating the strategy of adhering to low-carbon development [3–5]. China actively responds to climate change and environmental protection. Innovation is the key to high-quality development. Regional green innovation has become the focus of development [6,7]. Green innovation has received widespread attention in recent years
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