Research On The Effect Of Green Bonds On Economic Ecologicalization Under "Dual Carbon" Target

The imbalance and inadequacy of China’s economic and social development in the new era is mainly manifested in environmental pollution and environmental deterioration.Under the historical background that the concepts of carbon peak and carbon neutral are constantly reaffirmed,green bond has become a new financing mode and has received widespread attention from all walks of life and people.The innovative model of green bonds aims to optimize the pain points of high energy consumption and high pollution in China’s traditional industries,alleviate the severe problems of environmental deterioration and resource waste in China,and thus effectively promoting national economic transformation.Through the integration of existing domestic and international scholars and official conclusions,this paper accurately defines the vague concepts and connotations of green bonds and economic ecologicalization.From the viewpoints of both qualitative and quantitative analysis of the green bonds and the present situation of the ecological and economic development,characteristics and possible problems,with the help of a bond rating model and the entropy value method to build in line with the "double carbon" under the background of green bonds and ecological economic development evaluation index,and investigated the development of economy and ecological green bonds and spatial correlation.On the basis of confirming the significant spatial correlation between green bonds and economic ecologicalization development,taking economic ecologicalization as the explained variable and green bonds as the explanatory variable,four control variables including pollution emission,energy efficiency,urbanization rate and science and technology level were introduced to construct a spatial econometric model.In the space of three different weighting matrix SAR,SEM and SDM situation to the domestic 30 provinces in 2015-2019 green bonds and panel data regression of ecological economy,comprehensive analysis of the space under the condition of variable control variable and the different spatial spillover effects,the development of economy and ecology and green bonds on the direct effect and indirect effect.According to the results,the level of green bonds and the degree of economic ecologicalization in China have been improved to varying degrees,but there are still significant regional differences among the four sectors of east,middle,west and northeast.Therefore,it can be seen that the development of green bonds can significantly improve the progress of local environmental and economic level,and has a positive effect on the province and even the surrounding areas.However,due to the short development period of green bonds in China,this effect needs to be further strengthened.Therefore,we should build a comprehensive green bond system,give full play to the positive regional driving effect of green bonds,and make full use of the two-way realization of government and market participants.The spatial spillover effects of relevant control variables in the spatial model are different.Therefore,it is necessary to strengthen inter-provincial communication,promote the cooperation of factors with positive spillover effects,reduce fearless waste of resources and human resources,and give full play to the advantages of various factors.