Measurement, Decomposition of Drivers and Evolution of Green Financial Efficiency in the Yangtze River Delta Region

This study aims to measure and analyze the green financial efficiency in the Yangtze River Delta region, and to explore its motivation and its evolution trend. By constructing a green financial efficiency evaluation index system and using the static DEA-CCR model, the dynamic DEA-Malmquist model, and the kernel density analysis, the study analyzes the dynamic measurement decomposition and the evolution of the driving mechanism of green financial efficiency in the Yangtze River Delta region. It is found that the overall green financial efficiency in the Yangtze River Delta region shows a fluctuating upward trend, and technological progress is the main driving force to improve efficiency. However, there is a significant imbalance between regions, and the growth rate of green financial efficiency in Shanghai is significantly faster than that in Anhui Province. The analysis of drivers indicates that the level of technological innovation is a key factor affecting green financial efficiency. This study further explores the evolutionary path of green financial efficiency in the Yangtze River Delta region, pointing out that technological innovation should be strengthened, the green financial system should be improved, and regional cooperation should be increased in order to promote the improvement of green financial efficiency and the green transformation of the regional economy.