区域差距视角下科技金融如何影响城市绿色全要素生产率

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Abstract In the process of digital transformation, sci-tech finance has become a key force supporting the construction of urban green innovation systems. Based on a sample of 279 prefecture-level cities in China from 2006 to 2022, this study constructs urban green total factor productivity and its intra-provincial relative disparity indicators using the undesirable-output SBM-GML model combined with stochastic frontier methods. Furthermore, it employs the multi-period DID and spatial DID models to identify the effects and spatial spillover effects of sci-tech finance pilot policies on green TFP and its regional development disparities. The findings are as follows: (1) Sci-tech finance pilot policies significantly improve urban green TFP and narrow the regional development disparities of green TFP within provinces, with the policy effects exhibiting a dynamic characteristic of strengthening over time. (2) The strengthening of fiscal investment and the expansion of green funds are important transmission channels through which sci-tech finance pilot policies enhance urban green TFP and promote the narrowing of intra-provincial regional development disparities. (3) The enhancing effects of sci-tech finance pilot policies on green TFP are more prominent in old industrial cities, non-resource-based cities, and cities in the central region, while the convergence effects on regional development disparities in green TFP are more apparent in non-old industrial cities, non-resource-based cities, and cities in the central region. (4) The policy effects of sci-tech finance pilots have significant spatial spillover effects, which can not only promote the growth of green TFP in neighboring regions but also drive the convergence of regional development disparities in green TFP over a broader scope.

Key words： sci-tech finance green total factor productivity regional disparity difference-in-differences spatial spillover

Received: 18 November 2025

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	HUANG Qing-hua
	WANG Hao-li

Cite this article:

HUANG Qing-hua,WANG Hao-li. How Does Sci-Tech Finance Affect Urban Green Total Factor Productivity from the Perspective of Regional Disparities[J]. , 2026, 43(4): 83-94.

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https://xb.szu.edu.cn/EN/ OR https://xb.szu.edu.cn/EN/Y2026/V43/I4/83

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