Research On Green Finance Efficiency Measurement And Improvement Countermeasures Of Policy Banks

With the accelerated development of the world economy,the rapid growth of greenhouse gas emissions,the deterioration of the global environment,and the strengthening of environmental protection awareness in various countries,many economies have begun to be active in the green financial market.In 2020,Pres ident Xi Jinping pointed out at the general debate of the United Nations General Assembly that China will strive to achieve carbon peaking by 2030 and carbon neutrality by 2060.Green finance serves green economy,green economy promotes green finance.Policy banks have incomparable advantages over commercial banks in serving green finance strategies and providing low-cost,long-term funds.Based on this background,this paper conducts an empirical analysis on the green finance efficiency of thre e domestic policy banks,aiming to explore effective countermeasures to improve the green finance efficiency of policy banks and then promote the green finance of policy banks to achieve better and faster development.Firstly,this paper briefly sorts out and reviews the relevant theories of policy banks and green finance efficiency and domestic and foreign research results and analyzes the current situation of the development of green finance by policy banks in China.Based on the current situation,the data of three policy banks from 2016 to 2020 are selected.The DEA-Malmquist model is used to conduct static and dynamic analysis on the green finance efficiency of policy banks.Combined with the characteristics of policy banks,the panel data Tobit model is used to perform regression analysis on the influencing factors of policy banks’ green finance efficiency.The research results show that the green finance efficiency of policy banks is on the rise from 2016 to 2020.However,it is not practical,and there is still much room for improvement and improvement.The comprehensive technical efficiency value is greatly affected by the scale efficiency,which shows the same trend of change as the scale efficiency.Total factor productivity is directly affected by the technological progress index.Scale and technology have become the two major directions for improving the green finance efficiency of policy banks.At the same time,education investment,economic development level,fiscal expenditure,financialization degree,and policy support all have significant positive effects on improving the green finance efficiency.In contrast,the credit structure has no insignificant effect on improving the green finance efficiency.According to the research results,this paper proposes relevant countermeasures to improve the green finance efficiency of policy banks from creating a good green economic environment,clarifying the bank’s positioning,innovating green financial products,and improving the level of financial technology.