Technology finance and urban green total factor energy efficiency:A quasi-natural experiment based on the"promotion of the integration of science and technology and finance pilot"policy
LI Junfeng
AN Liting
Abstract：Facing severe energy and environmental challenges,improving green total-factor energy efficiency(GTFEE)is crucial for sustainable development and carbon neutrality.Using the pilot policy on integrating technology and finance as a quasi-natural experiment,this study examines its impact on urban GTFEE across 276 Chinese cities(2006-2022)via a multi-period DID approach.Results show the policy significantly enhances GTFEE,validated by robustness tests.Empirical findings show that this policy has significantly enhanced the green total factor energy efficiency,and has passed a series of robustness tests.Heterogeneity analysis indicates stronger effects in key environmental governance cities,eastern/central regions,and resource-based cities.This study advances theoretical understanding of tech-finance policies and informs tailored regional strategies.
Keywords：science and technology financial policygreen total factor energy efficiencyfinancing constraintsindustrial structure upgradinggreen innovation
Publication Date：2025-11-28
Online Publishing Date：2025-12-18(First online date of this platform, not the publication date of the document)
Pages：12( 161-172 )