Abstract
Digital finance (DF) and green technology innovation (GTI) are vital components of China's high-quality economic development. Therefore, exploring the coupling coordination relationship between these two systems holds significant importance for China's economic development. Utilizing panel data spanning from 2011 to 2020 across 30 Chinese provinces, this study utilizes the coupling coordination model to assess the coupling coordination degree (CCD) between these two systems, and employs spatial autocorrelation analysis and the panel vector autoregression (PVAR) model for a more in-depth quantitative analysis of their coupling coordination relationship. The findings indicate that: (1) The comprehensive level of digital finance and green technology innovation in our country shows a year-on-year increasing trend, and the level of digital finance is higher than that of green technology innovation. (2) The coupling coordination degree between these two systems is generally on the rise but hasn't reached a high level. Furthermore, notable developmental variations exist among different regions. (3) There is a positive spatial correlation in the coupling coordination degree between these two systems. (4) While these two systems can mutually promote each other, the positive impact of digital finance on green technology innovation is greater than the positive impact of green technology innovation on digital finance. Therefore, this study will provide valuable references for the balanced development of these two systems, as well as the formulation of regional development strategies.
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