Research On The Impact Of Green Finance On The Upgrading Of Industrial Structure

At present,China is facing an important stage of solving environmental problems and achieving sustainable development.In order to effectively promote environmental protection and ecological civilization construction,transform economic development models,and overcome obstacles in economic development,government policy support has become crucial.Green finance is a concept of revising and reforming traditional financial systems,aimed at adapting to and promoting green development in society.In the context of China’s economic transformation from high-speed growth to high-quality development,studying the impact of green finance on industrial structure upgrading has important theoretical and practical significance.Deeply exploring the relationship between green finance and industrial structure upgrading can better understand the interaction between the two,and provide decision-making basis for relevant government departments to scientifically formulate economic development plans and industrial development policies.Therefore,this article incorporates green finance and industrial structure upgrading into the same research framework,exploring their linear and nonlinear relationships,which helps to better understand the impact of green finance on industrial structure upgrading and provides theoretical and practical support for relevant decision-making.Firstly,this civilization defines the relevant concepts of green finance and industrial structure upgrading,and elaborates on the theoretical basis of green finance for industrial structure upgrading.Then,the entropy method was used to calculate the development level of green finance in various provinces from 2007 to 2020 from two dimensions: the implementation strength and effectiveness of green finance.Finally,use the constructed green finance index to empirically study its linear and nonlinear relationship with industrial structure upgrading.The main research conclusions of this article are as follows:(1)From the perspective of the development level of green finance in various provinces,the development level of green finance in various regions of China shows a characteristic of fluctuating and gradually stabilizing after rising;From the perspective of the development level of green finance in various regions,the development level of green finance in the eastern,central,and western regions is extremely uneven: the level of green finance in the eastern region is significantly higher than that in the central and western regions,while the development of green finance in the western region has always lagged behind the other two regions.(2)From the analysis results of mesomeric effect,green finance has a significant positive effect on the rationalization and upgrading of industrial structure.Green finance will promote the rationalization and upgrading of industrial structure through three ways: technological innovation effect,human capital effect and investment preference effect.(3)From the analysis of the threshold effect,it can be seen that green finance has a dual threshold effect on the rationalization and advancement of industrial structure,with per capita real GDP as the threshold variable.As per capita real GDP increases,the promoting effect of green finance on both will gradually weaken.(4)There is significant regional heterogeneity in the positive effect of green finance on industrial structure upgrading: green finance has the greatest promoting effect on the rationalization of industrial structure in the western region;For the upgrading of industrial structure,green finance has the greatest promoting effect on the eastern region.