Analysis Of The Impact Of Green Finance On Regional Economic Development

With the rapid development of China’s economy after the reform and opening up,a series of problems such as the deterioration of ecological environment and the depletion of energy resources have become increasingly prominent.Promoting economic transformation and upgrading,actively developing green industries has become an inevitable choice for China’s sustainable economic growth.Green finance can give full play to the role of finance in resource allocation through green investment and financing,and promote the green transformation and upgrading of relevant industries and technological innovation development in China.As an indispensable financial institutional arrangement to promote the development of green economy,whether green finance can have a positive impact on regional economic growth while playing a role in environmental protection and other aspects needs further proof.Based on the above reasons,this paper investigates the regional economic impact of green finance on the Chengdu-Chongqing twin-city economic circle through a combination of theoretical research and empirical analysis.Firstly,this paper compares the research background,research significance and research methods used on green finance and economic development at home and abroad,so as to prepare the groundwork for the research of this paper.Second,it further investigates the theories related to green finance and economic growth,analyzes the theoretical basis of green finance development and the mechanism of green finance on economic development,and provides corresponding theoretical support and theoretical basis for the empirical analysis in the later paper.Thirdly,an in-depth analysis of the development status of green finance in China is conducted in terms of the connotation of green finance,the development system and the current problems.Fourthly,a panel regression model model is established by using specific data of relevant cities in Chengdu-Chongqing twin-city economic circle to analyze the impact of green finance on regional economic development,as well as the analysis of differences in the impact of green finance on the economic development of different regions.It is found that green finance has a significant positive effect on regional economic development,and green finance policies can ultimately act on regional economic development by promoting the transformation and upgrading of regional industrial structure,and the higher the level of regional economic development,the higher the level of financial development and the higher the level of opening up to the outside world,the stronger the positive promoting effect of green finance on regional economic development.Finally,based on the above research,countermeasure suggestions are put forward to optimize the way of docking green finance and enterprises,improve the policies related to industrial structure upgrading,encourage enterprises to increase the efforts of opening up to the outside world,optimize the landing channel of green credit policies,and promote industrial structure optimization and upgrading based on local policies.