The Impact of Green Finance on High Quality Economic Development in China

This paper focuses on the significant issue of green finance and its impact on high-quality economic development. It aims to explain the real problems of inadequate support from green finance for high-quality economic development, as well as the theoretical issues regarding the limited research on the impact of green finance on high-quality economic development. The article proposes that new research should focus on the economic question about what the impact of green finance on high-quality economic development is. The findings of this research aim to establish a comprehensive index evaluation system for green finance and high-quality economic development, and explore whether the relationship between them is only linear. This research can provide valuable reference points for the formulation of relevant policies. For the research design, this paper uses quantitative method by combining China’s national conditions, use scientific and reasonable knowledge framework, collect panel data and apply entropy method to establish a comprehensive index evaluation system for green finance and high-quality economic development, measure the role degree of green finance and high-quality economic development, and then find out the influence relationship between green finance and high-quality economic development. In addition, by proposing a mediation effect model, this paper proposes that the specific mechanisms by which green finance influences high-quality economic development, and the consequent outcomes could reveal that green finance can facilitates overall economic growth via enhancing the ecological level of industrial structure and promoting green technological innovation. Finally, this paper proposes the moderating role of marketization and government intervention, which not only provides a research direction for future studies but also offers a theoretical basis for policymakers in formulating relevant policies. This paper has important theoretical and practical implications. In terms of theoretical implications, this paper has enriched the existing research content of green finance theory, improved the current research deficiencies in green finance, and provided new theoretical ideas for economic growth. In a realistic sense, the conclusions and suggestions of this paper are valuable for China to promote the improvement and development of the green finance system, improve the adjustment of industrial structure and the green transformation of the economy, and foster the high-quality growth of China’s economy.