The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese Cities
Enhancing carbon emission efficiency is crucial for achieving carbon reduction and economic growth. This paper focuses on the digital–financial dual pilot policy formed by the Broadband China strategy pilot (BCP) policy and the Promoting Science and Technology to Combine with Finance pilot (TFCP) po...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2025-03-01
|
| Series: | Land |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2073-445X/14/4/686 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850144767674941440 |
|---|---|
| author | Xinchun Zhang Dong Liang Shuo Zhang |
| author_facet | Xinchun Zhang Dong Liang Shuo Zhang |
| author_sort | Xinchun Zhang |
| collection | DOAJ |
| description | Enhancing carbon emission efficiency is crucial for achieving carbon reduction and economic growth. This paper focuses on the digital–financial dual pilot policy formed by the Broadband China strategy pilot (BCP) policy and the Promoting Science and Technology to Combine with Finance pilot (TFCP) policy. Using the panel data of 284 prefecture-level cities in China from 2007 to 2022 and nighttime light data, this paper adopts the super-efficiency SBM model to calculate urban carbon emission efficiency. Based on this efficiency, this paper employs the staggered difference-in-differences model to discuss the impact of the dual pilot policy on urban carbon emission efficiency. The research results indicate that the dual pilot policy significantly improves urban carbon emission efficiency, and compared to the single pilot policy, the dual pilot policy has a greater effect on improving carbon emission efficiency. This conclusion still holds after the parallel trend test, heterogeneous treatment effects test, and other robustness tests. Mechanism analysis demonstrates that the dual pilot policy enhances urban labor, capital, and credit resource allocation efficiency and green technological innovation by generating resource allocation and collaborative innovation effects, thereby improving urban carbon emission efficiency. Further analysis reveals that implementing the TFCP policy first, followed by the BCP policy, can more effectively maximize the dual pilot policy’s positive impact on urban carbon emission efficiency. The impact of the dual pilot policy on urban carbon emission efficiency exhibits heterogeneity, depending on the resource endowment, digital infrastructure level, administrative hierarchy, economic and financial development level, and intellectual property protection intensity of cities. This paper provides valuable insights for effectively implementing the dual pilot policy and achieving a win–win outcome in carbon reduction and economic development. |
| format | Article |
| id | doaj-art-2c9fd039bd9a4e3d82242b47e1fd4a91 |
| institution | OA Journals |
| issn | 2073-445X |
| language | English |
| publishDate | 2025-03-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Land |
| spelling | doaj-art-2c9fd039bd9a4e3d82242b47e1fd4a912025-08-20T02:28:15ZengMDPI AGLand2073-445X2025-03-0114468610.3390/land14040686The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese CitiesXinchun Zhang0Dong Liang1Shuo Zhang2School of Finance, Central University of Finance and Economics, Beijing 102206, ChinaCollege of Economics and Management, China Agricultural University, Beijing 100083, ChinaCollege of Economics and Management, China Agricultural University, Beijing 100083, ChinaEnhancing carbon emission efficiency is crucial for achieving carbon reduction and economic growth. This paper focuses on the digital–financial dual pilot policy formed by the Broadband China strategy pilot (BCP) policy and the Promoting Science and Technology to Combine with Finance pilot (TFCP) policy. Using the panel data of 284 prefecture-level cities in China from 2007 to 2022 and nighttime light data, this paper adopts the super-efficiency SBM model to calculate urban carbon emission efficiency. Based on this efficiency, this paper employs the staggered difference-in-differences model to discuss the impact of the dual pilot policy on urban carbon emission efficiency. The research results indicate that the dual pilot policy significantly improves urban carbon emission efficiency, and compared to the single pilot policy, the dual pilot policy has a greater effect on improving carbon emission efficiency. This conclusion still holds after the parallel trend test, heterogeneous treatment effects test, and other robustness tests. Mechanism analysis demonstrates that the dual pilot policy enhances urban labor, capital, and credit resource allocation efficiency and green technological innovation by generating resource allocation and collaborative innovation effects, thereby improving urban carbon emission efficiency. Further analysis reveals that implementing the TFCP policy first, followed by the BCP policy, can more effectively maximize the dual pilot policy’s positive impact on urban carbon emission efficiency. The impact of the dual pilot policy on urban carbon emission efficiency exhibits heterogeneity, depending on the resource endowment, digital infrastructure level, administrative hierarchy, economic and financial development level, and intellectual property protection intensity of cities. This paper provides valuable insights for effectively implementing the dual pilot policy and achieving a win–win outcome in carbon reduction and economic development.https://www.mdpi.com/2073-445X/14/4/686dual pilot policycarbon emission efficiencynighttime light datacredit resource allocation efficiencygreen technological innovation |
| spellingShingle | Xinchun Zhang Dong Liang Shuo Zhang The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese Cities Land dual pilot policy carbon emission efficiency nighttime light data credit resource allocation efficiency green technological innovation |
| title | The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese Cities |
| title_full | The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese Cities |
| title_fullStr | The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese Cities |
| title_full_unstemmed | The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese Cities |
| title_short | The Impact of Digital–Financial Dual Pilot Policy on Carbon Emission Efficiency: Evidence from Chinese Cities |
| title_sort | impact of digital financial dual pilot policy on carbon emission efficiency evidence from chinese cities |
| topic | dual pilot policy carbon emission efficiency nighttime light data credit resource allocation efficiency green technological innovation |
| url | https://www.mdpi.com/2073-445X/14/4/686 |
| work_keys_str_mv | AT xinchunzhang theimpactofdigitalfinancialdualpilotpolicyoncarbonemissionefficiencyevidencefromchinesecities AT dongliang theimpactofdigitalfinancialdualpilotpolicyoncarbonemissionefficiencyevidencefromchinesecities AT shuozhang theimpactofdigitalfinancialdualpilotpolicyoncarbonemissionefficiencyevidencefromchinesecities AT xinchunzhang impactofdigitalfinancialdualpilotpolicyoncarbonemissionefficiencyevidencefromchinesecities AT dongliang impactofdigitalfinancialdualpilotpolicyoncarbonemissionefficiencyevidencefromchinesecities AT shuozhang impactofdigitalfinancialdualpilotpolicyoncarbonemissionefficiencyevidencefromchinesecities |