Affiliation:
1. Hainan University
2. Hainan College of Economics and Business
Abstract
Abstract
Implementing green credit is now a crucial step for nations looking to control social capital flows, improve environmental governance, and foster high-quality economic development in the context of the global low-carbon transition. This study analyzes the effects of green credit policy on high-quality economic development from the perspective of firm innovation using panel data from 30 Chinese provinces. The data is from the period between 2011 and 2020. The benchmark regression and mediation effect models are used to analyze the relationship between green credit and high-quality economic development. The research results show that (1) Green credit can directly and significantly raise the standard of economic growth. (2) Enterprise innovation mediates the relationship between green credit and high-quality economic growth. Green credit can promote high-quality economic development through enterprise technical innovation, human capital innovation, enterprise stock, and enterprise incremental innovation. (3) The most apparent mediating influence in enterprise innovation is played by human capital innovation. Our research provides policy implications for governments, banks and enterprises to promote green transformation and innovation, and ultimately achieve high-quality economic development.
Publisher
Research Square Platform LLC
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