Research on the Coupling between Ecological Construction and Financial Development Level: An Empirical Study based on Urban Agglomerations in the Yangtze River Delta

Abstract

This paper focuses on the coordinated development of ecological and financial construction in urban agglomerations in the Yangtze River Delta (YRD) of China. By employing methods such as the TOPSIS entropy weight method, coupling coordination model, and lag effect analysis, combined with software solutions from MATLAB, EVIEWS, and SPSS, it conducts an empirical analysis on the coupling coordination level between financial and ecological construction in the YRD urban agglomerations. Additionally, it analyzes the factors influencing the coupling degree between the two systems and proposes corresponding countermeasures and suggestions. Firstly, a comprehensive measurement of the development level of the YRD urban agglomerations is conducted. Based on the selected 10 evaluation indicators, the TOPSIS entropy weight method is used to measure the comprehensive levels of ecological environment and financial development for eight cities in the YRD from 2010 to 2022. The results show that improving air quality and pollution control play important roles in the ecological construction system, while the adjustment of industrial structure and the improvement of residents' living standards play significant roles in the financial system. Secondly, a coupling coordination model is constructed to measure the coupling coordination status of ecological environment and financial development in eight cities from 2010 to 2022. It can be seen that the overall coordination degree of the eight key cities in the YRD urban agglomerations is showing a positive trend, but there are still significant gaps among cities. Based on data from 2017, 2019, and 2022, a spatial autocorrelation model is further constructed. The global spatial autocorrelation model reveals spatial aggregation and correlation in the coupling coordination degree values of ecological environment and financial development. The local spatial autocorrelation model shows regional differences in coupling coordination degrees among the eight cities. Next, an analysis of the influencing factors of coupling coordination between ecological and financial development in the YRD is conducted. Using a fixed-effects panel data model to analyze the impact of various factors on the two systems, the results indicate that human capital has a significant lag effect on the coordinated development of regional coupling, and technological progress can effectively improve the coupling coordination degree of the two systems. Finally, suggestions are proposed: Fully and effectively leverage the high-end human resources and research and development capabilities of universities and scientific research institutes in the YRD urban agglomerations, vigorously promote the industrialization of green environmental protection technologies, and raise industrial access standards.