Dynamic Impact of Technology and Finance on Green Technology Innovation Efficiency: Empirical Evidence from China’s Provinces

Yang Liu, Yanlin Yang, Shuang Zheng, Lei Xiao, Hongjie Gao and Hechen Lu
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Yang Liu: Economics and Management School, Wuhan University, Wuhan 430072, China
Yanlin Yang: Center for Economic Development Research and Center of Population, Resource & Environmental Economics Research, Wuhan University, Wuhan 430072, China
Shuang Zheng: Economics and Management School, Wuhan University, Wuhan 430072, China
Lei Xiao: Economics and Management School, Wuhan University, Wuhan 430072, China
Hongjie Gao: School of Computer Science, Zhuhai College of Science and Technology, Zhuhai 519040, China
Hechen Lu: School of Management, University of Science and Technology of China, Hefei 230026, China

IJERPH, 2022, vol. 19, issue 8, 1-17

Abstract: In the new stage of global economic development, we hope to achieve both economic development and environmental improvement through green technology innovation. How to effectively obtain the support of technology and finance to green technology innovation is an issue worth studying. This paper constructed an improved super-SBM-DEA efficiency measurement model and combined it with the window analysis method to measure the green technology innovation efficiency (GTIE) of Chinese provinces from 2006 to 2018. Then, based on the PVAR model, the impulse response function and Monte Carlo simulation were used to study the dynamic impact of various variables of technology and finance on GTIE. Finally, the variance decomposition was used to explore the contribution degree of each variable of technology and finance to improving GTIE. The results revealed the following: (1) the average value of China’s provincial GTIE from 2006 to 2018 was 0.42, which is relatively low and shows a trend of volatility and rising. (2) From the impulse response results, it could be seen that various variables of technology and finance have always had a positive impact on GTIE. However, there are differences in the influence degree, shock effect, and dynamic transmission mechanism. (3) The results of the variance decomposition showed that government financial technology investment had the highest contribution to the improvement of GTIE, followed by bank technology credit, then by enterprise independent R&D investment, and finally venture capital. This paper offered a reference to developing countries with regard to improving their GTIE and studying the role of technology and finance.

Keywords: technology and finance; GTIE; dynamic impact; super-SBM-DEA; PVAR (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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