Spatial Heterogeneity And Driving Factors Of Credit Environment And Its Impact On The Quality Of Economic Growth

In recent years,China has vigorously accelerated the construction of social credit system,and the urban credit environment has been greatly improved.However,there are still major dishonest incidents in many places,such as falsification of vaccine production records of Changsheng Company,which seriously affects China's economic order and social stability,and attracts wide attention from all walks of life and scholars.Credit system is the cornerstone of economic development.Credit environment is a comprehensive credit system and a social governance mechanism,involving all aspects of the city.The essence of urban development is economic development,and most of the dishonesty in the credit environment is also the livelihood of the people.These are the hotspots of economic development.Therefore,the construction of the urban credit environment will promote the comprehensive development of the city,and further in-depth study of the impact of the urban credit environment on the quality of economic growth is essential.This paper explores the spatial differences of credit environment among cities,and explores the driving factors for such differences,so as to study the impact of credit environment on the quality of economic growth.Firstly,this paper theoretically analyzed the mechanism of credit environment impact;secondly,using the comprehensive index of urban credit issued by the National Urban Credit Monitoring Platform in 2016,taking 259 provincial and prefecture-level cities as the research object,through spatial correlation analysis,it described the spatial heterogeneity of urban credit environment regional distribution;thirdly,it described the spatial heterogeneity of urban credit environment.Through the bivariate Morlan index,this paper empirically analyses the driving factors of regional differences in urban credit environment in China from four aspects: economic factors,urban factors,educational factors and political factors.Finally,in order to further demonstrate the importance of urban credit environment,a spatial error model and a spatial lag model are constructed,respectively.Economic efficiency,economic structure,resource and environmental costs are variables to study the impact of credit environment on the quality of economic growth.The proportion of labor remuneration,incremental capital output rate and industrial wastewater discharge per unit GDP are selected as the quality indicators of economic growth to test the robustness.The theoretical research finds that the causes of regional differences in credit environment and the credit environment play a positive role in the quality of urban economic growth.The empirical results show that:(1)the urban credit environment is not spatial independence,its spatial distribution is not completely random,but shows a certain degree of spatial heterogeneity.The credit environment in the coastal areas of the Ministry is generally better than that in the inland areas of the West,and the provincial capitals and sub-provincial cities have better credit environment construction in the province.The Yangtze River Delta region and the Pearl River Delta region are obviously better than the surrounding areas;(2)The per capita disposable income,education investment,population density and credit environment are significantly positive.These three factors are the main contributing factors to the credit environment,while the level of government control is negatively related to the credit environment,and the higher the level of government control,the worse the credit environment;(3)the specific positive role of urban credit environment in promoting economic efficiency,and significantly affecting the optimization of economic structure and the upgrading of industrial structure;In addition,whether resource consumption or environmental pollution,the improvement of credit environment will greatly reduce the cost of resources and environment.(4)In robustness test,the research results of the proportion of labor remuneration,incremental capital output rate and industrial wastewater discharge per unit GDP are consistent with the above analysis.Credit environment plays a positive role in the quality of economic growth.This paper may be innovative:(1)Innovation from the perspective of research.Credit environment is used as a comprehensive factor to evaluate the impact of urban development.Credit environment covers four areas: business,government,society and justice.Besides,government integrity includes institutional factors.Business City Credit is also analyzed from the aspects of market,involving all aspects of the whole society.In this study,many scholars mostly use questionnaire survey or select some business data to construct the evaluation system,which has subjective components and incomplete problems.The perspective chosen in this paper is more scientific and comprehensive.(2)Innovation of research content.In the past,scholars mostly studied the relationship between credit environment and economic growth,but seldom studied the quality of economic growth.In addition,they mostly stayed in the inter-provincial dimension,and took cities as the research object.Social credit plays a positive role in investment,financing and economic development,but the research is limited to the ex ante or ex post facto,and can not analyze the impact on the economic process.The quality of economic growth studied in this paper takes into account the growth process,growth structure and growth results,making the impact of credit environment throughout economic growth.