Financial Development,Scientific & Technological Innovation And Green Growth

This dissertation selects the panel data of 31 provinces in China 2004-2015 to study the impact of China's financial development and scientific & technological innovation on the green economic growth.Firstly,the theoretical basis is gotten from combing the literature of previous studies.Secondly,this dissertation explores the mechanism of financial development on the green economic growth based on the results of previous studies.Financial development promotes the green economic growth from five financial functions of information processing,risk dispersing,clearing and payment,resource allocation and monitoring of shock.This dissertation explores the mechanism of scientific & technological innovation on the green economic growth.Scientific & technological innovation promotes the green economic growth from nine aspects of promoting the emerging industry and related industries,promoting the adjustment of industrial structure,expanding the scale of production,reducing product cost,improving labor productivity,improving the ability of information processing,increasing the financial services,rich financial instruments products.Thirdly,this dissertation upholds the principle of the scientific objectivity,integrity,systematic,representative,independence,reliability,comparability and feasibility.There are three index system of the green economic growth,financial development,scientific & technological innovation.This dissertation uses the entropy weight method respectively to weight and process the three-level indexes of the green economic growth,financial development and scientific & technological innovation.After the way,we get the composite indexes of31 provinces in 2004-2015,including green economic growth,financial development and scientific & technological innovation.Finally,this dissertation constructs the individual fixed effects variable intercept model with the research object in 31 provinces.Though analyzing the effect of financial development and scientific & technological innovation on the green economic growth and individual differences,the result shows:(1)The coupling degree of financial development,scientific & technological innovation and green growth is very high,and the degreeof coupling coordinated development varies from region to region.(2)Financial development has a positive role in promoting the green economic growth.(3)Scientific & technological innovation has positive positive effect on the green economic growth.(4)Scientific & technological innovation is more significant than financial development in promoting the green economic growth.(5)The effect of financial development and scientific & technological innovation on the green economic growth is better than that of the individual.(6)There are some differences in the level of the green economic growth in different regions.The highest level of the green growth is in the eastern region,the second in the middle and the lowest in the west.And the level of the green economic growth is matched with the regional financial development level and technological innovation ability.According to the research conclusions,several corresponding policy suggestions are put forward:(1)We should enhance the coordination degree of financial development,scientific &technological innovation and green growth.(2)We should increase the scale of financial development and improve the efficiency of financial development.(3)We should increase investment in scientific & technological innovation and improve the conversion rate of scientific and technological achievements.(4)Financial development promotes scientific & technological innovation,and scientific &technological innovation promotes the financial development.(5)We should coordinate the regional green economic growth and promote the development of backward areas.(6)We should make full use of finance and technology to strengthen energy conservation and environmental protection.