Research On The Impact Of Green Credit On The Efficiency Of Industrial Green Technology Innovation In China

Green technology innovation is an important way to achieve green development,and green credit can promote green technology innovation through capital formation,policy guidance,and other ways.As an important pillar of the real economy,industrial green technology innovation is crucial.Therefore,revealing how green credit affects the efficiency of industrial green technology innovation and further exploring its mechanism is of great significance for improving China’s green credit policies,giving full play to green credit to promote green innovation in China’s industry,and realizing the beautiful vision of "green mountains are golden mountains and silver mountains.".By referring to existing research,this article takes industrial enterprises above designated size as the research object,based on provincial panel data from 30 provinces,municipalities,and autonomous regions from 2011 to 2019,and uses a two-way fixed effect model to investigate the impact of green credit on the efficiency of green technology innovation in China’s industry.The specific research is as follows.Firstly,the research background and significance are described,and the research status of green credit and green technology innovation efficiency at home and abroad is summarized and integrated.The research content and methods are further introduced.In addition,the concepts of green credit and green technology innovation efficiency are respectively defined,and relevant theories such as sustainable development theory,financial supply side structural reform theory,and green total factor productivity theory are sorted out.The impact mechanism of green credit on the efficiency of green technology innovation in China’s industry is further analyzed.Secondly,the current situation of green credit and industrial green technology innovation efficiency in China is analyzed.Then,the SBM-DEA model is used to measure the efficiency of industrial green technology innovation in 30 provinces,municipalities,and autonomous regions in China.Combining a two-way fixed effect model,an empirical study is conducted on the impact of green credit on the efficiency of industrial green technology innovation in China.The systematic GMM model and the 2SLS model are used to conduct an endogenous test,and further variable indicators are replaced and municipal samples are removed to test the robustness of the regression results.In addition,the level of financial development is used as a criterion for regional differentiation to study regional heterogeneity,and the stepwise regression method is used to explore the partial mediating effect of credit scale and credit cost.Finally,based on the results of empirical research,corresponding countermeasures and suggestions are proposed.It is proposed to increase the proportion of green credit,improve the green credit delivery strategies of commercial banks,improve the loan incentive mechanism and constraint mechanism of green credit,and promote the effective sharing of green environmental protection information.Provide countermeasures for promoting the efficiency of industrial green technology innovation through green credit.