Study On The Impact Of Forestry Green Credit On The High-Quality Development Of Forestry Industry

The green financial system supporting high-quality development of the real economy has been an important policy orientation and academic research hotspot in recent years.Green credit,as the main part of Chinese green financial system,is an important force to push forward the high-quality development.The forestry industry is a typical green industry.The high-quality development of the forestry industry plays an important role in the “ecological civilisation” and “beautiful China” strategy.Forestry green credit is the green credit invested in the forestry industry.Under the era of advocating the upgrading of forestry industry and high-quality development,it is of great theoretical and practical significance to study the impact of forestry green credit on the high-quality development of forestry industry.This paper analyses the mechanism of forestry green credit on the high-quality development of forestry industry from three aspects: forestry investment scale,forestry production efficiency and forestry industry structure.Based on gray correlation analysis,cointegration test,Granger causality test and error correction model,this paper studies the relationship between forestry green credit and forestry investment scale,forestry production efficiency and forestry industry structure,and then discusses the impact of forestry green credit to the high-quality development of forestry industry.The empirical research results are as follows: First,forestry green credit has the greatest correlation with forestry industry structure optimisation,followed by forestry investment scale and forestry production efficiency;Second,forestry green credit has the greatest correlation with the forestry tertiary industry,followed by the forestry primary industry and the forestry secondary industry;Third,forestry green credit has a cointegration relationship with forestry industry structure and forestry investment scale;Fourth,there is no obvious Granger causality between forestry green credit and forestry industry structure and in the short term,they return to the equilibrium level through error correction.Therefore,at this stage,the role of forestry green credit in promoting the high-quality development of the forestry industry is not yet obvious.In order to highlight the role of forestry green credit in promoting the high-quality development of the forestry industry,this paper believes that the construction of forestry green credit system should be strengthened from the aspects of market system,information sharing platform,personnel training and scientific research system,and puts forward relevant suggestions with a view to providing a reference for forestry green credit development and high-quality development of the forestry industry in China.