TITLE:
Research on the Impacts of Green Finance towards the High-Quality Development of China’s Economy—Mechanisms and Empirical Analysis
AUTHORS:
Gang Yang, Yuru Li, Xiaoyi Jiang
KEYWORDS:
Green Finance, High-Quality Development, Function Mechanism, VAR Model
JOURNAL NAME:
Theoretical Economics Letters,
Vol.10 No.6,
December
25,
2020
ABSTRACT: This paper firstly theoretically analyzes the specific
mechanism of Green Finance in promoting the high-quality development of China’s
economy through three channels: optimizing the industrial structure, improving the
ecological environment and supporting the development of the new economy. On this
basis, by choosing relevant data of China from 2004 to 2018 to construct the evaluation
indicators system of economy quality and synthesizing the high-quality development
index of China’s economy, then this paper empirically analyzes the impacts of Green
Finance on High-Quality Development of China’s Economy by using VAR model. It is
found that Green Finance has a significant positive correlation with the optimization
of China’s Economy Quality Index. With the increase of green financial investment,
China’s industrial structure tends to be rationalized and advanced, and the ecological
environment is improved, the new driving force of economic development is constantly
strengthened, so as to promote the development of China’s economy quality. Finally,
according to the research results, the paper puts forward some policy recommendations.