Research On The Impact Of Green Credit On Industrial Structure Upgrading

Since the reform and opening up,China has maintained its economic growth for 40 years.It has surpassed Germany.Japan and other countries in terms of GDP.However,the contradiction between China's economic development mode and environmental resources has become increasingly prominent.Against the background of China's economy shifting from a high-speed growth stage to a high-quality development stage,China urgently needs to change the extensive economic development mode and actively implement the concept of "green development".The report of the 19th National Congress clearly pointed out that it is necessary to promote the formation of green development methods and lifestyles,focus on promoting the green transformation of industrial structure,accelerate the establishment of legal systems and policy orientations for green production and consumption,and establish and improve an economic system for green and low-carbon recycling development.The market-oriented green technology innovation system promotes the research,development,transformation and promotion of green technologies in response to market demand,and transforms into a green economy with that green technology.At present,the key to the development of green credit is to clarify the relationship between the market and the government in the process of developing a green economy,to clarify the decisive role of the market in resource allocation and the guiding role of the government,to guide more capital flows to the green industry,and to promote the transformation of the industrial structure.This paper first reviews the research results of domestic and foreign scholars on the relationship between green credit and industrial structure upgrading,then analyzes the status quo of China's green credit and industrial structure upgrading,and then puts forward the mechanism of green credit affecting industrial structure upgrading,and then selects 29 countries in China.The panel data of the province was empirically tested,and finally some targeted policy recommendations were put forward.Specifically,the paper is divided into five parts:the first part,a review of domestic and foreign research.The research review is divided into four aspects,one is the introduction of green credit,the second is the relationship between green credit and industrial structure,the third is the relationship between green credit and technological innovation,and the fourth is the study of the relationship between technological innovation and industrial structure upgrading.The second part is the analysis of the status quo of China's green credit and industrial structure upgrading.It is mainly divided into three aspects,the status quo of green credit development,the status quo of industrial structure upgrading and the upgrading of industrial structure in the context of green credit development.The third part is the analysis of the mechanism of green credit affecting the upgrading of industrial structure.It mainly includes two aspects:the theoretical basis and the conduction path analysis of green credit impact industrial structure upgrading.The theoretical basis is developed from the three aspects of externality theory,public goods theory and industrial finance theory;the conduction path analysis draws on the theoretical model analysis conclusions of Acemoglu and Jing Weimin,and then proposes the fund allocation effect and technology of green credit through technological innovation.The innovative knowledge spillover effect affects the industrial structure upgrade,and finally proposes the research hypothesis based on the above transmission mechanism.The fourth part is the empirical test of the impact of China's green credit on the upgrading of industrial structure.This paper selects the panel data of 29 provinces in 2008-2016 as the research object,and empirically tests the effect of green credit on industrial structure upgrading by using the two-way fixed effect model.The fifth part is the conclusions,recommendations and prospects of the study.Green credit has an impact on the upgrading of industrial structure.However,due to the imperfect market mechanism in China,the imperfect construction of green credit system and the low level of technological innovation,the development of green credit has been hindered to some extent.Therefore,it is necessary to standardize the green credit system and improve the level of technological innovation to better promote the upgrading of the industrial structure.Based on the above research,this paper mainly draws four conclusions:(1)Green credit is a kind of bank credit with special investment,and its influence on the essence of industrial structure is the input of capital factor.(2)Empirical test finds that the development of green credit has Helping the upgrading of industrial structure,but the upgrade effect is not ideal.(3)The mechanism of green credit affecting industrial structure through technological innovation is not smooth.(4)Due to imperfect construction of green credit system,imperfect market mechanism and low level of technological innovation The reasons for this have hindered the development of green credit to a certain extent and affected the effect of green credit on the upgrading of industrial structure.Therefore,we must further encourage the development of green credit,improve the market mechanism,and enhance the level of technological innovation to better promote the upgrading of China's industrial structure.