Research On The Impact Of Green Credit On The Optimization Of Industrial Structure

In recent years,China’s haze weather,drinking water safety in some areas and high heavy metal content in soil pollution problems are prominent.The coordinated development of economy and environment needs be solved urgently.As a mediator between economy and environment,green credit plays an important role in green development.In the implementation of green credit,on the one hand,it mainly promotes the rapid development of green industries by lowering the threshold of loans for green industries.On the other hand,it restricts the development of industries with hevay pollution,high consumption and overcapacity,thereby promoting the optimization of the industrial structure.In this context,the article explores the effect of green credit implementation,discuss the impact of green credit on the optimization of the industrial structure and finally analyze the impact of green credit and the level of economic growth on the industrial structure.Firstly,the article collects international and domestic literature and research reports on green credit,industrial structure and its optimization by green credit;sorting out the theoretical basis of green credit and industrial structure,studying the current development status of green credit and industrial structure in China,and then study the influence mechanism of green credit on industrial structure.Finally,this paper selects panel data from 30 provinces and cities in China for quantitative analysis,establish a panel fixed effect model firstly,explores the empirical results of green credit impact on the optimization of industrial structure.The results show that green credit can promote the optimization of industrial structure;Introduction of the interaction term between green credit and the economic growth level indicates that the level of economic growth has a moderating effect in the process of the impact of green credit on industrial structure.Finally,a panel threshold model is established.Empirical evidence shows that green credit has a panel threshold effect on the industrial structure,and the sub-sample empirical results show that this threshold effect varies among the east,middle and west area.Based on the results of empirical analysis,this author believes that green credit products should be enriched to make them more flexible to promote the upgrading of the industrial structure.According to the implementation effect of green credit is different in different regions,we should formulate green credit policy according to local conditions,so as to maximize the effectiveness;Current implementation of green credit is less effective and only in small scale.We need promote the concept of green credit and green development,enhance the supervisory role of all the society and strengthen the implementation of green credit;Finally,Strength the leading role of government to establish a positive and fair development environment for the green credit.Banks should build a "bridge" between the government and enterprises and undertake their due social responsibilities for the coordinated development of finance and the environment.