Abstract: Structural reforms on the financial supply side and the green economic growth have become the main theme of the economic development in the new era. This paper measures the matching degree of the financial structure-innovation level based on the coupling coordination model, and under the OECD green growth strategy framework, uses the provincial panel data from 2000 to 2015 to empirically test the impact of the suitability of financial structure-innovation level matching on the green total factor productivity mechanism.The findings of the research are as follows: the matching degree of the financial structure-innovation level significantly improves the green total factor productivity; the matching degree of financial structure-innovation significantly improves the efficiency of labor and capital allocation to enhance the green total factor productivity; further endogenous treatment proves the robustness of the above conclusions. The financial structure-innovation matching degree has a significant promotion effect on the green total factor productivity in the eastern, central and western regions of China, but there are differences in the degree of the impact; and in regions with different degrees of economic inclusion, the effect of the financial structure-innovation matching degree on the green total factor productivity is also different.

Key words: Financial Structure-Innovation Level, Resource Allocation Efficiency, Green Total Factor Productivity, Suitability

摘要： 金融供给侧结构性改革和绿色经济增长成为新时代经济发展的主旋律。本文基于耦合协调度模型测度了金融结构创新水平匹配程度,并在OECD绿色增长战略框架下,运用2000~2015年省级面板数据实证检验了金融结构创新水平匹配度对绿色全要素生产率的影响机制。研究表明:提高金融结构创新水平匹配度显著提升了绿色全要素生产率;金融结构创新水平匹配度通过显著改善劳动力和资本的配置效率从而提升绿色全要素生产率;进一步通过内生性处理表明了结论的稳健性。金融结构创新水平匹配度的提高对我国东部、中部、西部地区的绿色全要素生产率的提升都存在显著的促进作用,但在影响程度方面呈现差异;而在经济包容程度不同的地区,提高金融结构创新水平匹配度的绿色全要素生产率效应也不同。

关键词: 金融结构创新水平, 资源配置效率, 绿色全要素生产率, 匹配度