Research On The Impact Of Green Credit And Technological Innovation On Green Economic Development

How to better promote green economic development in the context of high-quality economic development is a hot topic of academic research.The environmental pollution caused by traditional economic development methods has brought serious challenges to the sustainable development of economy and society.Therefore,it is necessary to strengthen the protection of the ecological environment in all aspects of economic development,so as to shift China’s economy from extensive development to green development.Green credit provides reliable funding and institutional guarantees for green development,and has become a core force in supporting China’s green development.At the same time,as the driving force of economic development,technology’s innovative development also plays an important role in the process of green economic development.Based on this background,the paper empirically analyzes the impact of green credit and technological innovation on the green development of the economy and their mechanisms,with a view to improving the contribution of green credit to the green development of China’s economy and promoting the green development of China’s economy.The research content of this paper mainly includes the following three aspects:(1)Measuring the level of green credit,technological innovation,and economic green development,and analyzing characteristic facts based on the measurement results.(2)Using econometric models,this paper empirically analyzes the impact of green credit on economic green development and the intermediary role played by different types of technological innovation.(3)Based on the threshold variable of technological innovation,this paper studies the impact of green credit on economic green development at different levels of technological innovation by region.The research findings are as follows:(1)From 2008 to 2020,the level of green credit,technological innovation,and economic green development in China showed an upward trend,and basically showed an unbalanced distribution trend of eastern>central>western.(2)Green credit has a significant promoting effect on the green development of the economy.Different types of technological innovation can play a partial intermediary effect,with independent innovation accounting for the largest proportion of the intermediary effect.(3)When introducing innovation and imitating innovation as threshold variables,most regions did not pass the threshold test.When independent innovation is used as a threshold variable,the eastern and central regions pass the double threshold test,while the western regions pass the single threshold test.As the value of independent innovation gradually increases,the regression results in the eastern region show a stronger promoting effect,while the regression results in the central region show a transition from inhibition to promotion,while the threshold regression results in the western region are not significant.Finally,based on the results of this study,the following suggestions are proposed: First,ensure the implementation of green credit and enhance its contribution to the green development of the economy.Second,improve the development level of technological innovation and give full play to the intermediary effect.Third,strengthen the positive interaction between green credit and technological innovation.Fourth,develop green credit and technological innovation according to local conditions.