Technological Innovation, Industrial Structure Transformation And The Choice Of Green Economic Growth Mode

After the reform and opening-up,China’s economic aggregate has grown at a high speed,and it has become the world’s second-largest economy.However,the accompanying environmental pollution problem has become increasingly serious,and the transformation of economic development mode is imminent.In recent years,the construction of ecological civilization has been established as one of the main structures of economic development,and green economic growth has begun to become the main direction of economic development.Practical experience at home shows that technological innovation and industrial structure transformation are the "double engines" driving the growth of green economy.However,technological innovation and industrial structure transformation activities need to consume a lot of money,of which finance is an important channel.Financial system factors involve two levels: scale and structure.The expansion of financial scale will improve the efficiency of capital use,and the promotion of financial structure marketization will affect the direction of capital allocation.The coordinated operation of the two will change the investment of enterprises in technological innovation and industrial structure transformation,thus affecting the process of green economic growth.In this context,this paper attempts to deeply analyze how technological innovation and industrial structure transformation affect green economic growth from the perspective of financial development,and provide practical basis for promoting the transformation of economic development mode.In this paper,the finite mixed model is introduced to identify the mode selection,characteristics and heterogeneity of green economic growth in China under the influence of technological innovation and industrial structure transformation in detail.And from the perspective of financial development,this paper makes a comprehensive analysis.The article mainly covers five parts.Specifically,the first part summarizes the research on green economic growth at home and abroad.The second part first introduces the connotation of green economic growth,then explains the related theoretical basis and analyzes the comprehensive mechanism.The third part explains the definition of variables,data description and descriptive statistics,and constructs the benchmark regression model and finite mixture model(FMM).The fourth part discusses the results of benchmark regression and limited mixed regression respectively,and analyzes the regional heterogeneity characteristics of green economic growth under subjective grouping and objective grouping.In order to further explore the role differences of adjoint variables under objective grouping,adjoint variables are introduced one by one to answer them.In addition,in order to ensure the reliability of the empirical results,robustness tests are carried out,including substitution variables and endogenous tests.The fifth part draws a conclusion based on the above analysis and puts forward relevant policy suggestions.The main conclusions are as follows: First,there are two heterogeneous models for the influence of technological innovation and industrial structure transformation on green economic growth.Under both models,technological innovation and industrial structure transformation can promote green economic growth,but the effects of the two models are significantly different.Secondly,financial scale and financial structure are introduced as adjoint variables,and it is found that both of them can significantly promote the impact of technological innovation and industrial structure transformation on green economic growth,and can promote the transformation from mode to mode 2.Thirdly,during the investigation period,15 provinces have changed their green economic growth patterns,and the results of bilateral T test further show that the financial structure has a more significant impact on this.