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Abstract Based on counterfactual thinking, taking 192 cities in China from 2006 to 2019 as samples, the regression control method (HCW) is used to empirically test the driving effect of policy synergy on green finance in low-carbon pilot cities and intellectual property demonstration cities. It also focuses on the transmission mechanism of green patent signals in the process of policy synergy affecting the development of green finance. The results show that policy synergy can bring significant positive impact on the development of urban green finance, and this conclusion has strong robustness; Whether in terms of quantity or quality, policy synergy can strengthen green patent signals to a certain extent, especially in strengthening high-quality green patent signals. In the process of green finance development driving by policy synergy in low-carbon pilot cities and intellectual property demonstration cities, only when the green patent application has a certain level of quality can it play an effective mediating effect of patent signal.
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Received: 21 April 2023
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