Research on the Transmission Path of Carbon Control, Financial Development and Technological Innovation
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In order to study the transmission path between carbon control, financial development and technological innovation, a directed acyclic graph method for unit root test, co-integration test and causality analysis was conducted based on the panel data of 22 provinces and cities in China from 2004 to 2015. The results show that there is a long-term equilibrium co-integration between carbon regulation, financial development and technological innovation. There is a facilitating role between carbon regulation and financial development; Carbon control is the direct cause of technological innovation, that is, carbon control directly promotes technological innovation; Carbon regulation is also an indirect cause of technological innovation. Carbon regulation promotes financial development and thus enterprise technological innovation.
Carbon Controls, Financial Development, Technological Innovation, Dag Analysis