Analysis of the regulatory environment on Green innovations Efficiency and its Impact Effect

This paper investigates the mediating effect model and threshold effect model used to examine the relationship between the regulatory environment and advancements in green technology. Spatial factors are incorporated into the model constructed in this paper, and spatial autocorrelation tests are conducted on relevant data. The created model is labored to assess the effectiveness of green innovations in Zhejiang Province from 2010 to 2021, and on this basis, the changes in efficiency values are elaborated on different scales and spatial and temporal dynamics. Then, carbon finance and resource allocation are used as mediating variables. Thus, the two variables of carbon financing and resource allocation are utilized in the mediating model to assess the effect of the regulatory environment on green technological innovation. Finally, this paper investigates the threshold effect of the regulatory environment in the procedure of technology service industry agglomeration affecting green innovations efficiency, and according to this, to experimentally determine whether the regulatory environment has a threshold value, a panel threshold model is built. After the model test, when the intensity of the regulatory environment is greater than 0.0334, the coefficient of technology service industry agglomeration is meaningfully negative −0.0687, representing that the different intensity of the regulatory environment makes a significant difference in the effect of technology service industry agglomeration. Therefore, the regulatory environment is conducive to green technological innovation, and green technological innovation tends to form agglomeration in the region.