A Spatial Difference-in-Differences Approach to Evaluate the Efficiency of Urban Green Innovation under the Pilot Policy of Combining Technology and Finance

Abstract

With the “Pilot Policy of Combining Technology and Finance” implemented in 2011 and 2016 as a quasi-natural experiment, taking the panel data of a total of 285 cities in China in 2003-2018 as an example, the spatial difference-in-differences models are used to evaluate the impact of pilot policy of combining technology and finance on urban green innovation efficiency. The study found that technology and finance pilot policies obviously increase the regional green innovation level. At the same time, local governments play an important role in regional green innovation practice activities, involving both positive and negative roles. The research herein provides quantitative support for evaluating the effects of technology and finance pilot policies, and provides a reference for the further innovation and promotion of the technology and finance pilot policies.