How Green Finance Promotes High-quality Economic Development?
Based on the panel data of 31 provincial-level administrative regions in China from 2012 to 2021,the GMM model is used to explore the effect and mechanism of green finance to promote the high-quality development of the economy.The study found that:first,green finance has a significant role in promoting high-quality economic de-velopment;second,the mechanism test shows that green finance can promote high-quality economic development by improving the level of green consumption,the efficiency of credit allocation and the ability of green continuous innova-tion;third,the analysis of regional heterogeneity shows that the promotion effect of green finance on the high-quality development of the economy in the eastern region is more significant.On this basis,countermeasures are proposed in terms of raising the level of green consumption,optimizing the allocation of credit resources,improving the capacity for sustained green innovation and formulating differentiated green financial policies.
green financehigh-quality economic developmentgreen consumptionefficiency of credit re-source allocationcontinuous innovation
万方数据
维普
