Does Green Finance Affect the High-Quality Development of Real Economy?—Based on the Data of Hebei Province in China
Abstract
Based on the panel data of 11 prefecture-level cities in Hebei Province of China from 2015 to 2020, the high-quality development level of green finance and the real economy are calculated by entropy method. The two-step system GMM model is used to analyze the effect of green finance on the high-quality development of real economy. The research results show that green finance can significantly promote the high-quality development of the real economy. The robustness of this conclusion is proved by the test of increasing or decreasing the control variable and replacing the measurement standard of the explained variable. Finally, some suggestions are put forward.
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DOI: http://dx.doi.org/10.18686/fm.v8i3.9020
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