Sci-Tech Finance and Sustainable Urban Transition: Evidence from Pollution–Carbon Reduction Synergy and Green Growth in Chinese Cities
科技金融と持続可能な都市移行：中国都市における汚染・炭素削減の相乗効果とグリーン成長のエビデンス (AI 翻訳)
Jing Tian, Xiao Liu, Xu Yang, Renquan Huang
🤖 gxceed AI 要約
日本語
中国の科技金融パイロット政策（STFP）が都市の汚染・炭素削減とグリーン成長に与える影響を、2008～2023年の284都市パネルデータとDIDモデルで分析。STFPは汚染・炭素相乗圧力を8.1%削減し、グリーン成長効率を向上。グリーン産業起業、技術革新、生産要素集積が経路。大都市・協働ガバナンスが強い都市で効果大。近隣都市への波及効果も確認。
English
This study examines the effect of China's Sci-Tech Finance Pilot Policy (STFP) on pollution-carbon reduction synergy and green growth using panel data from 284 prefecture-level cities (2008-2023) and a multi-period difference-in-differences model. STFP reduces the pollution-carbon synergistic pressure index by 8.10% and increases green growth efficiency by 0.0350 units. Mechanisms include green entrepreneurship, green and digital innovation, and factor agglomeration. Effects are stronger in large cities and those with better governance. The policy also reduces pollution-carbon pressure in neighboring cities.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国の科技金融政策の成功要因は、日本のグリーンイノベーション基金や地域脱炭素戦略に示唆を与える。特に、都市レベルの政策設計とガバナンスの重要性が指摘されており、日本の自治体による脱炭素推進策との比較分析に有用。
In the global GX context
This paper offers causal evidence on how innovation-oriented financial policy can simultaneously advance pollution-carbon reduction and green growth, contributing to global debates on transition finance. The findings on spatial spillovers and policy interactions are relevant for designing coordinated urban climate policies worldwide, especially for countries implementing green finance frameworks.
👥 読者別の含意
🔬研究者:Provides robust causal evidence on the effectiveness of targeted sci-tech finance for environmental and economic outcomes, useful for scholars studying transition finance and urban sustainability.
🏢実務担当者:Policymakers can learn from China's STFP design and mechanisms (entrepreneurship, innovation, agglomeration) to develop similar financial instruments for green growth.
🏛政策担当者:Highlights the importance of policy coordination (e.g., zero-waste city synergy, green finance substitution) and spatial spillovers for designing effective urban decarbonization strategies.
📄 Abstract（原文）
Reconciling pollution–carbon reduction with green growth is a central challenge for sustainable urban transition, yet the role of innovation-oriented financial policy in this process remains insufficiently understood. This study uses China’s sci-tech finance pilot policy (STFP) as a quasi-natural experiment and applies a multi-period difference-in-differences model to panel data for 284 prefecture-level cities from 2008 to 2023. The baseline results show that STFP significantly reduces the pollution–carbon synergistic pressure index (PCSP) and improves the green growth efficiency index (GGEI). Specifically, the policy reduces PCSP by approximately 8.10% and increases GGEI by 0.0350 units. These conclusions hold after a series of robustness and endogeneity tests. Mechanism analysis reveals that STFP works through three pathways: stimulating green industrial entrepreneurship, promoting green and digital technological innovation, and inducing the agglomeration of capital, talent, and technology factors. Heterogeneity analysis shows that the policy effect is more pronounced in large cities, cities with stronger collaborative governance capacity, and cities with better innovation environments. Spatial analysis reveals that STFP significantly reduces PCSP in neighboring cities, but has no significant spatial spillover effect on GGEI. Further analysis shows that STFP strengthens the coordinated improvement of pollution–carbon reduction and green growth. Policy-interaction analysis indicates that the Zero-Waste City pilot enhances the effect of STFP, whereas green finance policy exhibits a marginal substitution effect. This study provides city-level evidence on how sci-tech finance can serve as an institutional instrument for coordinating environmental governance and green growth in sustainable urban transition.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.3390/su18147045first seen 2026-07-13 05:33:05
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