| During the forty years of reform and opening up,China has made remarkable achievements in economic development.In order to effectively deal with environmental problems,in addition to the implementation of strict terminal governance measures,but also to give full play to the role of finance in the allocation of resources,guide funds into the environmental protection industry and have a positive impact,green finance came into being.However,while green finance plays a role in environmental protection,whether it can have a positive impact on economic development needs further research and analysis.Therefore,on the basis of sorting out relevant literatures on green finance and regional economic development,this paper selects panel data of 31 provinces and cities in China to conduct empirical research on green finance and regional economic development by building an analytical model.Firstly,this paper introduces the connotation,mode and framework of green finance in China,and summarizes the basic theories of regional economic development.After that,this paper analyzes the mechanism of the influence of green finance on regional economic development.On this basis,this paper constructs the theory that green finance influences regional economic development by influencing investment,and selects green credit variable indicators represents green finance,selects Green fixed investment variable indicators represents green investment.Considering the quality of regional economy and the correlation with Green Finance,this paper take Green GDP(GGDP)as variablewihich indicates regional economy.In terms of model selection,individual effects and possible endogenous influences among variables of each province are taken into account comprehensively.An empirical analysis model of PVAR(panel data vector autoregressive)is built by using panel data of 31 provinces and cities from 2007 to 2017 for the four economic zones of east,west,central and northeast.Through the comparative analysis of different regions,it is found that green finance has a significant positive impact on regional economic development,but green finance promotes the growth of local regional economic development with a lag.The development of green finance can significantly improve the level of regional economic development and regional comprehensive strength,and is an important driving force for sustainable development.Finally,according to the results of empirical analysis,the countermeasures of green finance to promote regional economic development are discussed from the aspects of green investment,industrial structure upgrading,consumer preference,green finance system construction and information disclosure mechanism construction,so as to provide reference for the theoretical research and construction of green finance system in China. |
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