Research On The Effect Of Green Credit On Industrial Structure Adjustment

With the growing contradiction between the ecological environment and social development,people are fully aware of the importance of the development of green economy.However,in our country,the secondary industry as an important part of industrial structure,seriously hindered the development of green economy.How to guide the optimization and upgrading of industrial structure effectively is becoming the key to protect the environment and take the road of sustainable development.With the "Equator Principles"put forward,green credit as a means to guide the green configuration of funds gradually become the world's new ways to solve environmental problems.This paper discusses the relationship between green credit and industrial structure from both theoretical and empirical aspects.In the theoretical aspect,the paper first combs the research situation at home and abroad,then analyzes the influences of the green credit to industrial structure through four mechanisms,Finally,summarizes the development experience of foreign mature market and the development of green credit and industrial structure in China.In the empirical aspect,by constructing the multiple regression model of green credit and industrial structure,selecting ADF test,cointegration test,error correction model,this paper discussed the relationship between green credit and industrial structure adjustment.And on this basis,this paper testes the environmental effect of the green credit adjusting industrial structure.Through the above research,this paper draws the following four conclusions:(1)Green credit mainly through the capital formation mechanism,capital-oriented mechanism,credit catalytic mechanism and industrial integration mechanism applied to the industrial structure.(2)Compared with the mature market,China's green credit has some problems,such as,laws and regulations are not perfect,the incentive mechanism is not perfect,environmental information is not smooth and product innovation is insufficient.(3)The empirical results show that green credit can help promote the optimization and upgrading of industrial structure,and play a certain role in improving the environmental quality,but the effect is small.(4)to promote green credit,sound laws and regulations,strong government incentives,open and transparent environmental information platform,strict risk review system and innovative green credit products are effective means.