Spatial Effect of Green Finance Development on Regional Green Innovation Efficiency

Green finance is an important driving force to promote green innovation and achieve green development. In order to deeply explore the internal relationship between green finance and green innovation efficiency, this paper selects China's provincial panel data from 2012 to 2023, uses the entropy method and super efficiency SBM model to measure the green finance development index and green innovation efficiency of each province, and on this basis, chooses to construct the spatial Durbin model with fixed effects for empirical analysis and effect decomposition. The results show that: (1) From 2012 to 2023, the development level of green finance and green innovation efficiency of China's provinces will increase year by year with the development of economic base; (2) The green innovation efficiency of provinces with better economic foundation and perfect infrastructure is also at a high level; (3) The level of green finance development, productivity, fiscal revenue and expenditure and urbanization not only have a direct effect on the green innovation efficiency of the region, but also have a spatial spillover effect on the neighboring regions.