Does Financial Resource Misallocation Inhibit the Improvement of Green Development Efficiency? Evidence from China

Improving the efficiency of green development is an important means achieving high-quality development, and optimal allocation financial resources core factor in promoting development. Based on panel data 30 provinces China taken from 2005 to 2021, this paper constructs a resource misallocation (FM) index (GDE) measurement system, empirically examining impact transmission path FM GDE dual perspectives element mismatch structural mismatch. First, results show that key inhibiting improvement GDE, with inhibitory effect decreases first then increases inverted V-shaped trend. Second, structure greater than Moreover, after degree marketization distinguished, more evident regions low marketization. Third, through mechanism analysis, we found affects by agglomeration enterprise technological innovation industrial height.