A Study on the Impact of Green Financial Policies on Green Technology Innovation in Manufacturing

This paper conducts a policy text analysis on the effect of financial policies on green technology innovation in the manufacturing industry, on the basis of which a two-way fixed-effects model with panel data is constructed to empirically test the mechanism of the effect of green financial policies on green technology innovation in the manufacturing industry. The results show that the increase in the level of green financial policy supply positively affects green technology innovation in the manufacturing industry. Further mechanism testing reveals that green financial policies have a positive effect on the level of green technology innovation in the manufacturing industry by increasing the intensity of R&D investment.