| As an innovation mode,green finance takes environmental protection and realizing the economical utilization of resources,it applies funds to environmental protection,energy conservation,clean energy,green transportation and other fields to realize sustainable development of resources and society,which perfectly conforms to the concept of ecological civilization in China.In 2016,green finance was included in the G20 agenda.The report of the 19 th National Congress of the Communist Party of China also proposed to promote the reform of the ecological civilization system,accelerate the construction of a beautiful and new China,and rely on green finance for green development.The Yangtze River Economic Belt covers 11 provinces and cities,spanning the eastern,central,and western parts of China.It is an important support for China’s "four major plates" regional development strategy system and "three major support zone strategies" and has an important strategic position throughout the country.The development of a green economy is inseparable from green finance,which is an important support point to promote the upgrading of industrial structure and economic growth.Accelerating the pace of development of green finance in the Yangtze River Economic Belt has become an important topic of urgency and practical significance,which not only reflects the importance of green finance for its economic development,but also reflects the positive response to national development strategies and an inevitable requirement for own economic development.Based on the study of domestic and foreign literature about green finance,this paper selects green credit balance as an indicator to measure the level of green finance development,selects gross regional product(GRP),degree of financial development(DIR),air environment quality(AQ),educational level(EL)as explanatory variables to construct an index system of factors affecting the development of green finance in the Yangtze River Economic Belt.Based on this,supported by the relevant data of the Yangtze River Economic Belt from 2007 to 2017,firstly,the article calculates the comprehensive scores of the green finance development scores of the Yangtze River Economic Belt with the factor analysis comprehensive evaluation method.Quantitative research has been carried out,and the results show that the overall development of green finance in the Yangtze River Economic Belt has steadily increased,but the differences in the development of green finance between provinces and cities are obvious.The level of green finance development in Shanghai is the highest,and the level of green finance development in Guizhou province is the lowest.There is a regional imbalance in the development of green finance.The level of green finance development in the lower reaches of the Yangtze River is significantly higher than that in the middle and upper reaches of the Yangtze River.At the same time,the development of green finance within the region also has a significant imbalance.Then,a spatial correlation analysis was conducted on the degree of green finance development in 11 provinces and cities in the Yangtze River Economic Belt.The results show that the level of green finance development in the Yangtze River Economic Belt has obvious spatial clustering,and has a positive space spillover effect.Subsequently,the spatial Dubin model(SDM)with fixed effect is used to conduct an empirical analysis of the factors affecting the development level of green finance.The results show that gross regional product,financial development degree,and air environment quality are the main factors affecting green finance development in the Yangtze River Economic Belt.Those factors have positive promotion effect on the development of green finance in the Yangtze River Economic Belt.The degree of financial development has a significant space spillover effect on the development of green finance in the Yangtze River Economic Belt.The increase in the degree of financial development in this province and city will promote the development of green finance in neighboring provinces and cities.Develop.Finally,based on the empirical results,reasonable suggestions and countermeasures for the development of green finance in the 11 provinces and cities of the Yangtze River Economic Belt are proposed. |
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