Study on the Impact and Mechanism of Capital Factor Market Distor-tion on Green Credit
As an important financial institutional arrangement to support the green low-carbon transition,the healthy development of green credit cannot be separated from a unified,open,competitive and orderly capital factor market.Based on the panel data of 30 provinces(autonomous regions and municipalities directly under the central gov-ernment)in China from 2007 to 2019,this paper examines in depth the impact and mechanism of capital factor market distortion on green credit.The study finds that distortions in the capital factor market will contribute to the development of highly polluting industries,inhibit corporate innovation investment,increase commercial bank credit risk,and thus inhibit the scale of green credit.In addition,this paper identifies significant differences in the inhibitory effects of capital factor market distortions on green credit under differences in the degree of capital factor distortions,time and lo-cation conditions.The relevant conclusions provide useful references for the government to further deepen the reform of market allocation of capital factors and formulate more effective differentiated green credit policies.
capital factor market distortionsgreen creditgreen transition development
万方数据
维普
