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ĭendramis Y, Tzavalis E, Adraktas G (2018) Credit risk modelling under recessionary and financially distressed conditions. ĭong F, Zhu J, Li YF, Chen YH, Gao YJ, Hu MY, Qin C, Sun JJ (2022) How green technology innovation affects carbon emission efficiency: evidence from developed countries proposing carbon neutrality targets. Financ Res Lett 46(B): 102458.Ĭole MA, Elliott R, Shimamoto K (2005) Industrial characteristics, environmental regulations and air pollution: an analysis of the UK manufacturing sector. Ĭhen YX, Chiu JM, Chung HM (2022) Givers or receivers? Return and volatility spillovers between fintech and the traditional financial industry. Ĭhakravarty SR, Pal R (2013) Financial inclusion in India: an axiomatic approach. Econ Comput Econ Cybern Stud Res 52(3): 189–204. Ĭao X, Xing ZY (2018) The strategy options of energy-saving and environmental protection industry under incomplete information: a tripartite game analysis of government, enterprises and financial institutions. Ĭao SP, Nie L, Sun HP, Sun WF, Taghizadeh-Hesary F (2021) Digital finance, green technological innovation and energy-environmental performance: evidence from China’s regional economies. īrown JR, Martinsson G, Petersen BC (2012) Do financing constraints matter for R&D? Eur Econ Rev 56(8):1512–1529. īorsatto JMLS, Bazani CL (2020) Green innovation and environmental regulations: a systematic review of international academic works. īruhn M, Love I (2014) The real impact of improved access to finance: evidence from Mexico. īaron RM, Kenny DA (1986) The moderator-mediator variable distinction in social psychological research: conceptual, strategic, and statistical considerations. Īziz A, Naima U (2021) Rethinking digital financial inclusion: evidence from Bangladesh. The main contributions of this study are to prove the positive effect of digital finance on green innovation at the regional level, clarify its transmission mechanism and urban heterogeneity analysis, and find that the current digital finance cannot bridge the gap of regional green innovation.Īhmed F, Kousar S, Pervaiz A, Trinidad-Segovia JE, Casado-Belmonte MD, Ahmed W (2021) Role of green innovation, trade and energy to promote green economic growth: a case of South Asian Nations. It is worth noting that digital finance does not really play the role of universal benefit, widening the regional green innovation gap.

In addition, the results of heterogeneity analysis show that digital finance plays a greater role in promoting green innovation in areas with high levels of traditional financial supply and Internet infrastructure construction. Improving the level of regional green financial services is its main mechanism, but the intermediary role of industrial structure optimization and upgrading fails to pass the test. The results show that digital finance can significantly improve the level of regional green innovation. For the analysis, the fixed-effect model, the mediating effect model, and the moderating effect model are used to perform regression on the panel data of Chinese cities. Based on this, this study aims to analyze the impact of digital finance on the regional level of green innovation. However, systematic research on regional digital finance and green innovation is still lacking. Digital finance realizes the combination of finance and technology, makes up for many deficiencies of traditional finance, and brings opportunities for green and innovative development.

Regional finance