| Green and sustainable development has become the main direction of current social development.China’s 14th Five-Year Plan further mentions adhering to the concept that"clear waters and green mountains are gold and silver mountains",and emphasizes the need to "develop green finance" and "support green technology innovation".In addition,China has also put forward the medium and long term goal of carbon dioxide emission peak and the long-term goal of "carbon neutrality",which fully reflects China’s positive attitude in the face of global climate change and the firm determination to adhere to the road of green development.Green technology innovation is an important means to achieve sustainable and green economic development.The green credit policy hopes to guide the bank credit funds to invest in green and low-carbon industries from highpolluting industries,so as to promote green technology innovation and green economic development.This paper focuses on the important export enterprises under the background of The Times to explore the impact of green credit policy on green technology innovation of export enterprises.In the part of theoretical analysis,the intermediate mechanism of green credit policy on green technology innovation is analyzed,and it is proposed that green credit policy will affect green technology innovation by influencing the financing cost of export enterprises.Then,heterogeneity factors were further introduced to investigate the influence of heterogeneity factors on the policy effect.In this paper,the empirical analysis part USES 2002-2012 industrial enterprises in China patent database,database and the data in the China city statistical yearbook,using the empirical analysis of double difference method,the results show that after the implementation of green credit policy,exporters of green technology innovation significantly reduce pollution industry,green industry export enterprise green technology innovation is a significant boost.Later in this article,according to the heterogeneity factors will export enterprise grouping to heterogeneity hypothesis which is returning to verification,found that r&d intensity,ownership,fixed assets shall be accounted for and dependence on external financing and the degree of regional financial development level and environmental regulation will influence the green credit policy for exporters of green technology innovation.This paper also tests the intermediary effect of green credit policy on green technology innovation of export enterprises,and confirms the intermediary effect of financing cost.Finally,this paper summarizes the empirical results and puts forward corresponding policy suggestions. |
PDF Full Text Request