Empirical Study On The Financial Resources Efficiency And The Green Industry

With the development of economy and the progress of society,the problem of energy and environment is becoming more and more serious.All governments have paid great attention in this regard,and the China has also put forward the concept of "promoting green development,circular development and low carbon development" for the first time in the eighteen major reports.In 2016,at the G20 summit held in Hangzhou,China,under the initiative of our country,green finance was also included in the agenda for the first time.As we all know,finance,as the blood of a country or a region’s economic development,plays a certain role in promoting and accelerating the development of industry.But for the green industry,which is still in the initial stage of development,it needs the support of financial resources,so it is necessary to explore the interactive development of the financial resources and the green industry in this context.At the same time,China has gradually entered the "new normal" economy and accompanied by the structural reform of the supply side.In this process,the combination of Finance and industry is reflected in all aspects,and the problem of efficiency is also worth paying attention to.Because efficiency,as the soul of development,can directly distinguish the operation of financial system and the interactive relationship with the development of industrial connection.Based on the above background,this paper takes the interactive development of financial resource efficiency and green industry as the research object.First,it defines and analyzes the related concepts and basic theories of the two,and expounds the path and mechanism of the interaction between the two.Secondly,through the synthesis of many viewpoints on the efficiency of financial resources,five different types of indicators are selected to represent the efficiency of financial resources from the two levels of macro and micro.It also constructs a comprehensive index to measure the development of green industry by the method of principal component analysis.Then,using the 1985-2016 year related variable time series data,the relationship between the efficiency of financial resources and the development of green industry is carried out by using the VAR model and the VEC model,the impulse response and the variance decomposition analysis,and the Granger causality test.Finally,according to the empirical test results and the practical problems in reality,corresponding policy recommendations are put forward accordingly.