Green Credit,Upgrading Of Industrial Structure And Quality Of Economic Growth

The guiding opinions on building a green financial system issued by the people’s Bank of China points out that at present,China is in a critical period of economic restructuring and development mode transformation,and the demand for green finance is constantly expanding.The establishment and improvement of a green financial system will help to play the role of capital market in optimizing resource allocation and promoting industrial structure upgrading.In the report of the 19 th National Congress,it was pointed out that China’s economic development stage has changed significantly,from high-speed growth to high-quality development,and is in the critical period of transforming the development mode,optimizing the economic structure and transforming the growth power.By supporting the optimization and upgrading of traditional industries,China’s economic quality can be significantly enhanced.Therefore,this paper studies whether green credit can promote the quality of economic growth,and discusses the relationship between green credit,industrial structure upgrading and the quality of economic growth,which has a certain practical significance for the improvement of China’s green credit system and industrial structure upgrading.This paper introduces the basic theories of green credit,industrial structure upgrading and the quality of economic growth,and analyzes the current development situation and the impact mechanism.In the empirical part,first of all,the data are standardized by preprocessing and other methods,and the quality indicators of economic growth are integrated by entropy weighting method,then the panel data of 29 provinces in China from 2008 to 2018 are constructed.Secondly,by building the basic regression model to explore the correlation between variables,and then using panel threshold model to study the nonlinear relationship between variables,and using the intermediary effect to judge the degree of green credit affecting the quality of economic growth through the upgrading of industrial structure.Finally,the stability of the model is verified by robustness test.The final conclusions are as follows: First,green credit has a direct effect on improving the quality of economic growth.Second,green credit will indirectly affect the quality of economic growth through the upgrading of industrial structure,The upgrading of industrial structure plays an intermediary role in the transmission process of green credit to the quality of economic growth,and there are differences in the impact of green credit under different levels of industrial structure upgrading.Third,this paper argues that we should not only improve the green credit system and upgrade the industrial structure,but also coordinate the development of green credit and upgrade the industrial structure,narrow the regional gap and better serve the improvement of the quality of economic growth.The first innovation of this paper is the research angle.Most of the previous literatures have separated the three aspects and studied them separately.This paper combines the three aspects to study not only the direct effect between variables,but also the indirect effect through the intermediary effect.Secondly,the nonlinear relationship between variables is studied by panel threshold model.The disadvantage lies in that green credit selects negative indicators based on panel data,and does not consider the empirical effect of positive indicators.