| Summary/Abstract |
The relationship between green finance and energy efficiency is of great significance for China to solve the environmental pollution problems caused by excessive energy consumption and high carbon emissions. In this paper, the method of non-radial distance function (NDDF-DEA) is adopted to estimate the energy efficiency for 30 provinces in China. In addition, the spatial Durbin model is established based on provincial panel data from 2005 to 2019 in China to investigate the mechanisms for the impact of green finance on energy efficiency. Results show that with the characteristic of spatial dependence, the energy efficiency in China decreases with time. The green finance has spatial spillover effects, and can improve energy efficiencies in local and neighboring areas. In addition, Internet development and environmental regulation are important channels for green finance to further promote energy efficiency. Conclusions also indicate that the spatial spillover effect is positive in the eastern and western regions and negative in the central regions, proving the regional heterogeneity of spatial spillover effect for green finance. The empirical evidence and policy recommendations are provided in this paper to more rationally enhance the promotion impact of green finance on energy efficiency.
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