AI Article Synopsis
- Implementing green credit helps nations manage capital flows and improve governance while promoting economic growth in a low-carbon economy.
- This study assesses how green credit policies influence high-quality economic development (HQED) by analyzing data from 30 Chinese provinces between 2011 and 2020.
- The findings reveal that green credit significantly boosts HQED, with enterprise innovation serving as a key mediator, particularly through human capital innovation, which is the most influential factor.
- The research suggests actionable strategies for governments, banks, and businesses to support green initiatives and achieve sustainable economic progress.
Article Abstract
Implementing green credit is 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 (HQED) from the perspective of enterprise innovation using panel data from 30 Chinese provinces. The data is from the period between 2011 and 2020. We use the benchmark regression and mediation effect models to analyze the relationship between green credit and HQED. The research results show that (1) green credit can directly and significantly raise the HQED. (2) Enterprise innovation mediates the relationship between green credit and HQED. Green credit can promote HQED through enterprise technical innovation, human capital innovation, stock market innovation, and incremental market 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 achieve simultaneous economic and environmental development.
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| http://dx.doi.org/10.1007/s11356-023-31601-6 | DOI Listing |
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