| Since the reform and opening up,China’s total economic output has grown tremendously,and the people’s living standards have been greatly improved.However,economic growth has also led to aggravated ecological environment pollution and great waste of natural resources,which is not conducive to the realization of China’s high-quality economic development goals at this stage.As an effective means of resource allocation,the role of finance in promoting high-quality economic development can not be ignored.In order to promote high-quality economic development,China’s relevant departments have put forward the concept of green finance development and introduced a series of green finance policies and measures.However,due to the late start of green finance development in China,there are many key problems and problems faced in the implementation process,and the impact mechanism and effect of green finance on high-quality economic development are not clear,and there are few relevant empirical studies.In order to solve the above problems,this paper first sorts out the excellent theories and research methods in domestic and foreign literature by reading relevant literature at home and abroad.Secondly,on the basis of relevant theoretical research,the impact mechanism is analyzed from different dimensions and different subjects,that is,green finance promotes high-quality economic development by promoting industrial structure optimization,scientific and technological innovation and green consumption;Then,the current situation of green finance development and high-quality economic development in China is summarized,and reasonable indicators are selected to measure the development level of green finance and high-quality economic development.Finally,the panel data of 30 provinces(municipalities and autonomous regions)in China from 2011 to 2020 is selected to construct a two-way fixed-effect model to empirically study the impact of green finance on high-quality economic development,and on this basis,a deeper empirical analysis is carried out.After empirical analysis,the results are as follows: green finance will positively promote high-quality economic development,and it has passed the robustness test,indicating that this conclusion is stable.After solving some endogenous problems,green finance still plays a role in promoting high-quality economic development.The regression analysis of 30 provinces(municipalities and autonomous regions)was carried out according to the different levels of green finance development,and it was found that in regions with high levels of green finance development,the positive effect of green finance on high-quality economic development was obvious.In areas with low levels of green finance development,green finance has no significant impact on high-quality economic development.Then,the high-quality economic development is divided into five different dimensions,and the impact of green finance on it is analyzed separately,and it is found that green finance has a significant positive role in promoting innovative economic development,coordinated economic development,economic green development and economic shared development,but has no impact on economic opening development.Based on the above regression results and the current status quo of green finance and high-quality economic development,it is proposed to accelerate the construction of green financial system,innovate green financial products,and create a good green financial development environment;Promote multi-party cooperation,promote smooth implementation links,and jointly promote green finance;Relying on the differences in local industrial development advantages,carry out regional characteristic green finance policies according to local conditions;Break down regional barriers and promote the development of green finance in a coordinated manner;Dialectically view “polluting”industries and actively promote “guidance” instead of “restrictions”;Accelerate the construction of green finance to promote the opening up mechanism,and realize the virtuous linkage cycle at home and abroad.The above measures will help further realize the role of green finance in promoting high-quality economic development. |
