Research On The Impact Of Financial Development On Carbon Emissions In Shanxi Province

In recent years,global warming has become increasingly prominent,alleviation of carbon emissions and solution of the global warming are the most important issues.Countries have reached a consensus on this issue,many countries work together and through continuous efforts to reduce the energy-saving emission and work for the global climate issues.China is no exception,recognizing the importance of climate change for human survival,at the same time,actively takes measures to vigorously promote energy conservation and emission reduction.In the international context,China takes the initiative to contract the United Nations Framework Convention on Climate Change and "Kyoto Protocol".China also efforts to promote the implementation of carbon reduction,in the subsequent Copenhagen climate change meeting,The China also played a positive role in the negotiations,which is called on countries to jointly cope with climate warming.As a major coal mine province,Shanxi Province has the task of carbon reduction.Relying on the unique advantages of natural resources,Shanxi has always been the coal industry as a pillar industry of economic development,to all parts of the country and abroad to export coal resources.Shanxi also play a pivotal role in the development of Shanxi’s economy.However,the development of the coal industry will also bring negative externalities,resulting in environmental pollution,increased carbon emissions and resource depletion and other issues.Shanxi is facing the economic development dilemma,industrial transformation.The upgrading is imperative to break the original coal industry which was a pillar of economic development pattern.Attention to environmental pollution brought about by a series of negative effects: energy conservation and other implementation,Shan efforts to get rid of Development bottleneck.Financial industry to promote industrial restructuring to provide a strong financial backing,financial development will promote economic prosperity and maintain the vitality of the market and enterprises,those may further stimulate the increase in carbon emissions.However,it is also possible to finance the development of carbon emission reduction technology,promote scientific and technological progress and reduce the increase in carbon emissions.Therefore,it is necessary to clarify the relationship between financial development and carbon emission,and provide the basis for making economic decision-making in ShanxiProvince.This paper makes a theoretical and empirical analysis on the impact of financial development on carbon emissions during the period of economic transformation and development in Shanxi.In theory,the financial development through the industrial structure and technological progress of the two paths to influence carbon dioxide emissions,the development of the financial industry to provide financial support for technological innovation,carbon emission reduction technology is bound to have an impact on carbon emissions,in addition,The financial industry can provide a powerful driving force for the transformation and upgrading of industrial structure.The change of industrial structure will also cause the change of carbon emission.In this paper,based on the panel data of Shanxi Province from 1996 to 2016,this paper uses the time-series measurement model to investigate the financial development ratio and the scale of financial development and the financial development structure as a comprehensive measure of financial development.Carbon emissions,and the use of state space model to assess the impact of carbon emissions on a variety of factors,the conclusion shows that financial development and carbon emissions were inversely related to the relationship.Accordingly,this paper puts forward the relevant suggestions to reduce the carbon emissions,Shanxi provincial government to make relevant policies to provide basis and recommendations.