| The world today is undergoing major changes that have not occurred in a century,and the risk factors and random fluctuations are increasing in various fields.It is imperative to improve the resilience,adaptability and repair ability of economy.Green finance is an economic activity to improve the environment,cope with climate change and save resources.It links financial services such as investment and financing decisions with environmental factors,and has become an important direction to promote the sustainable development of green economy.It actively plays a unique role in promoting the structural reform of China’s financial supply side,guiding the green investment of funds,stimulating green consumption,and achieving effective long-term economic growth.At present,the "Double Carbon " goal has been put forward in the "Fourteenth Five-Year Plan",and green finance has reached a new height.Green finance plays an important role in promoting low-carbon,green and circular economy,improves the stability of economic development,and becomes an important engine for improving economic resilience.Firstly,this paper defines the basic concepts of green finance and economic resilience by combing relevant domestic and foreign literature and relevant theories.Secondly,taking China’s 30 provincial regions(excluding Tibet,Hong Kong,Macao and Taiwan)from 2011 to 2020 as the research object,the economic resilience indicator system is constructed through three dimensions of economic resistance and resilience,adaptability and adjustment,innovation and transformation,and the green financial indicator system is constructed from four dimensions of green credit,green investment,green insurance and carbon finance.Through the measurement of entropy method,the economic toughness development index and green finance development index are obtained,and the grey correlation analysis and coupling coordination degree analysis are carried out.Secondly,after testing the spatial autocorrelation between green finance and economic resilience,the spatial spillover effect of green finance on economic resilience in China is analyzed by constructing the spatial Dubin model,and the spatial spillover effect of green finance on economic resistance and resilience,adaptability and adjustment,innovation and transformation is also analyzed,and the regional heterogeneity is analyzed for the eastern,central and western regions.The research finds that:(1)There is a significant spatial autocorrelation between green finance and economic resilience.The degree of agglomeration of green finance and economic resilience is very strong.Areas with similar economic resilience tend to be concentrated in space.(2)From the perspective of spatial impact at the national level,in the comprehensive dimension,green finance can promote economic resilience,and the spatial spillover effect is significant;In terms of dimensions,green finance has a promoting effect and positive spatial spillover effect on economic resistance and resilience,adaptability and adjustment,innovation and transformation.(3)From the perspective of regional heterogeneity,in the eastern and western regions,the direct effect and spatial spillover effect of green finance on economic resilience are significant,especially in the eastern region;In the central region,the impact of green finance on economic resilience is not obvious.(4)After changing the spatial weight matrix and control variables,it is found that economic resilience is still affected by green finance under the spatial factors,indicating that the empirical results are robust.Finally,according to the research results of the full text,in view of the current situation of green finance in China,in order to enhance the direct effect and spatial promotion effect of green finance on regional economic resilience,the corresponding policy implications are proposed from the government,regional,financial institutions and enterprise levels. |
