Study On The Influence Of Green Credit On The Green Development Of Industries In Northwest Provinces

Green is an important means of development,industry is the support of development,and green credit is the driving force of industrial green development.Under the background of "peak carbon dioxide emissions,carbon neutrality",the extensive economic growth mode of "three highs" enterprises no longer meets the requirements of industrial development,and the coordinated development of economic growth and resource and environmental protection has become the key measure of industrial green development.In recent years,with the improvement of green credit,green credit loans have become the direct driving force for the green development of industrial enterprises above designated size without heavy pollution,and promoted the green development of industrial economy.In view of the special geographical position,rich natural resources and the lagging pace of traditional industrial transformation in the northwest,it is of theoretical and practical significance to study how to realize the high-quality green development of industrial economy in the northwest under the guidance of green credit policy.Based on financial development theory,sustainable development theory and externality theory,this paper defines the core concepts of green credit and industrial green development.And on the basis of relevant research,the entropy weighting method was used to calculate the comprehensive index of industrial green development in the northwest province from 2010 to 2020,and it was determined as the dependent variable,with green credit as the explanatory variable.A two-way fixed effects panel model was used to explore the impact of green credit on industrial green development in the northwest province.The research results indicate that green credit has a significant promoting effect on the green development of industry in the northwest province.Then,endogeneity testing is conducted by incorporating green credit with a lag of one period as an instrumental variable into a bidirectional fixed effects model.On this basis,the stepwise regression method is used to test the effectiveness of the indirect impact of technological innovation and corporate performance as mediating variables.The research results show that,in addition to direct impact,green credit indirectly affects the level of industrial green development through the mediation of technological innovation and enterprise performance.Based on theoretical mechanism analysis and empirical testing results,this article proposes the following suggestions for the northwest province: firstly,expand the scale of green credit investment and improve industrial green development;Secondly,enhance technological innovation capabilities and achieve the goal of sustainable industrial development;Thirdly,strengthen the improvement of the performance of non heavily polluting enterprises and promote the upgrading of industrial structure;Fourthly,reasonably plan the intensity of regional environmental regulation and governance,and accelerate the elimination of outdated production capacity by industrial enterprises;Fifth,based on the advantages of regional industrial economic development,formulate effective work measures with regional characteristics.