Coupling and interaction between science and technology finance and green development: Based on coupling coordination degree model and panel vector autoregression model

Exploring the coupling and coordination between science and technology finance and green development is a critical action that needs to be addressed in achieving high-quality development in China. Based on the coupling coordination degree model and panel vector autoregression (PVAR) model, this paper uses the relevant data of 274 cities in China from 2003 to 2020 to study the relationship between science and technology finance and green development. The results show that: 1) The relationship between science and technology finance and green development has changed from low coupling coordination to medium coupling coordination in the sample period. 2) The Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta regions are at a relatively high level of coupling and coordination as a whole, while other regions are at a relatively low level of coupling and coordination. 3) Through the analysis of the spatial characteristics of the coupling coordination degree, it is found that the coupling coordination degree of China's urban science and technology finance and green development is generally positive spatial autocorrelation. Spatial correlations continue to strengthen over time. 4) By establishing a PVAR model, we examined the interaction between science and technology finance, green development, and their coupling coordination. Science and technology finance, green development and their coupling coordination degree are themselves affected. We have comprehensively and objectively grasped the matching status of China's urban science and technology finance and green development, providing a reference for promoting the adaptation of science and technology finance to green development.