“双碳”目标与城市绿色转型发展

数字赋能、绿色债券与城市碳减排——基于内生增长视角的分析

  • 徐新扩 ,
  • 宋增禄 ,
  • 韩立岩
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徐新扩(1985—),男,安徽阜南人,首都经济贸易大学金融学院副教授,博士,博士研究生导师,主要研究方向为绿色金融、城市碳减排;宋增禄(1998—),男,山东菏泽人,绍兴文理学院商学院讲师,博士,主要研究方向为城市碳减排。
韩立岩(1955—),男,北京市人,北京航空航天大学经济管理学院、北京雁栖湖应用数学研究院数字经济实验室教授,博士,主要研究方向为绿色金融、数字金融

收稿日期: 2024-12-19

  修回日期: 2025-02-06

  网络出版日期: 2025-06-18

基金资助

北京市社科基金重点项目(23JJA006)——“产业转型升级视角下绿色金融推动京津冀县域碳减排的路径研究”。

Digital empowerment, green bonds and urban carbon emission reduction:An analysis based on endogenous growth perspective

  • XU Xin-kuo ,
  • SONG Zeng-lu ,
  • HAN Li-yan
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Received date: 2024-12-19

  Revised date: 2025-02-06

  Online published: 2025-06-18

摘要

绿色债券工具是实现“双碳”目标的重要抓手之一,数字经济对绿色债券碳减排效应的强化作用值得关注。基于内生增长模型和2011—2020年我国231个城市的面板数据,从理论和实证两方面考察数字经济对绿色债券碳减排效应的强化作用及实现机制。研究发现,绿色债券发行能够显著降低城市碳排放强度,而数字经济能够强化绿色债券的碳减排效应。该结论在一系列稳健性检验下均成立。机制分析表明,数字经济能够强化绿色债券的绿色创新效应,进而促进城市碳减排。异质性分析表明,数字经济对绿色债券碳减排效应的强化作用随着技术水平、人力资本水平和能源投入水平的提升而增大,随着数据资本的增加而减小。研究结论对于探索促进城市碳减排的多维路径具有政策启示意义。

本文引用格式

徐新扩 , 宋增禄 , 韩立岩 . 数字赋能、绿色债券与城市碳减排——基于内生增长视角的分析[J]. 城市问题, 2025 , 356(3) : 50 -61 . DOI: 10.13239/j.bjsshkxy.cswt.250305

Abstract

Green bonds are one of the important ways to achieve the goal of “dual carbon”, and the enabling effect of digital economy on the carbon emission reduction effect of green bonds deserves attention. Based on the endogenous growth model and Chinese city data, this paper investigates the strengthening effect of digital economy on the carbon emission reduction effect of green bonds and the realization mechanism from both theoretical and empirical aspects. The study finds that green bonds can significantly reduce urban carbon emission intensity, and digital economy can enhance the carbon reduction effect of green bonds. This conclusion is valid under a series of robustness tests. Mechanism analysis shows that digital economy can strengthen the role of green bonds in promoting green technology innovation, and then promote urban carbon emission reduction. Heterogeneity analysis shows that the strengthening effect of digital economy on carbon emission reduction of green bonds increases with the increase of technological progress, human capital and energy input, but decreases with the increase of data capital.

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