The impact of green finance on economic ecological development in Northwest China——an empirical study based on a panel data model
The development of green finance is an inevitable requirement to promote economic ecological development,which is of positive significance to effectively transform clear waters and green mountains into mountains of gold and silver.Based on the provincial panel data of Northwest China from 2010 to 2022,this paper measured the development levels of regional green finance and economic ecological development through the entropy value method,and empirically examined the impact of green finance on economic ecological development in Northwest China by using panel data model.The results showed that:(1)In terms of the overall level of development,the level of green finance development in Northwest China presented a V-shaped trend with a decline in 2010-2016 and a rise in 2016-2022,of which 2016 was the inflection point with the lowest value of 0.0128.The level of economic ecological development presented a flat trend as a whole.The highest value was 0.0186 in 2011 and the lowest value was 0.0124 in 2018.(2)Green finance had a positive effect on economic ecological development at a significant level of 5%,and the lag phase of green finance and the economic ecological development also had an effect on economic ecological development.(3)Among the control variables,the shareof fiscal expenditure had a positive effect on the regional economic ecological development,the proportion of foreign trade dependence and road access intensity urbanization rate showed a negative effect on the level of economic ecological development.Based on the research paradigms of externality theory,capital signaling theory and microeconomic theory,this paper evaluated the change trend and influence mechanism of green finance and economic ecological development in Northwest China,and enriched the role of green finance on economic ecological development in Northwest China at the practical level.Based on the conclusions of the study,this paper suggested that Northwest China should improve the financial market norms,build a green financial market system,and develop green ecological industries with local characteristics on the basis of synergies between green finance and fiscal and taxation policies to help realize the economic ecological development.
green financeeconomic ecological developmentpanel data modelNorthwest China
NETL
NSTL
万方数据
