Research On The Impact Of Chinese Business Credit Environment On Economic Resilience

With the rapid development of modernization,various problems have come one after another.Natural disasters,economic crises,trade wars and other unexpected events have swept the world,and this has tested the level of economic resilience of each region and country.In response,the State Council introduced a package of policy measures to stabilize the economy and finance in 2022,and the commercial credit environment is the guarantee and prerequisite for stabilizing the economy and finance.Therefore,maintaining the regional commercial credit environment is an inevitable choice to enhance the regional economic resilience.Therefore,it is of great theoretical and practical significance to study the impact of Chinese business credit environment on economic resilience.Based on the background study of economic resilience and business credit environment,the research results and classical theories on economic resilience and business credit environment,this thesis develops the research on the influence of business credit environment on economic resilience.Firstly,a comprehensive index system of economic resilience is constructed from three perspectives of economic resistance,recovery and transformation capacity;secondly,using the panel data of 30 provincial regions from 2011-2019,the total economic resilience score of each provincial region is calculated by Entropy-weighted TOPSIS method and coupled coordination degree model;again,the non-spatial influence of business credit environment on economic resilience is studied by establishing a panel double-fixed model;next,the panel data are divided into three regions,namely,East,Central and West,for heterogeneity analysis;then,interaction terms are added to the panel bifixed model to do mechanism analysis;finally,an inverse distance matrix is introduced to establish a spatial Durbin model with bifixed effects to analyze the spatial impact of business credit environment on economic toughness.The following conclusions are obtained from the above study.(1)When using the Entropy-weighted TOPSIS method to calculate the scores of each capability of economic resilience,it is found that the change trends of each capability of economic resilience are different among Chinese provinces.(2)When using the coupled coordination model to calculate the total economic resilience score of each provincial region,it is found that the overall level of economic resilience in China shows a small upward trend,but there is some variability in economic resilience among provinces.(3)A panel double stationary model regression was conducted to find that an increase in the level of business credit environment enhances economic resilience.(4)Heterogeneity tests were conducted and found that the business credit environment enhances economic resilience significantly in the western region and not significantly in the central and eastern regions,showing an imbalance between regions.(5)The impact mechanism test found that the level of scientific and technological innovation played a role in the impact of regional business credit environment on economic resilience.(6)The spatial effect test found that there is a certain spatial spillover effect of the business credit environment on the economic resilience of neighboring provinces.Based on the above findings,the following relevant suggestions are given.(1)Localisation and block development strategies in each province.(2)Strengthen the penalty for breach of trust and optimize the credit system.(3)Optimize the industrial structure and transform the development mode.(4)Increase scientific and technological innovation to improve production efficiency.(5)Cautious government intervention,pay attention to the development of sanitation.(6)Good neighborliness and cooperation,and advocate enterprise group building.