经济与管理研究2019，Vol.40Issue(3)：3-20,18.DOI:10.13502/j.cnki.issn1000-7636.2019.03.001
金融错配、环境污染与可持续增长
Financial Misallocation, Pollution and Sustainable Growth
摘要
Abstract
Finance plays an important role in industrial restructuring and environmental protection, by supporting and guiding the development of the real economy.However, the existing research lacks theoretical elaboration and empirical evidence on the relationship between financial resource allocation and environmental pollution.Ou this basis, this paper verified the allocation of financial resource in China in both polluting and nonpolluting enterprises, showing that financial resource is much more abundant in pollution industries.Then, a general equilibrium model considering environment and the financial sector is built, which explained the logic between financial resource and pollution, arguing that unbalanced allocation of financial resource will harm environment and long-term sustainable growth.After that, an empirical study is carried out using panel data of 30 provinces in China to test the relationship between three types of main pollutants and financial resource allocation.The results show that allocation of financial resource had a significant negative influence over environment.The findings filled the gap of green finance research and strongly supported the idea of sustainable finance, indicating that improving financial allocation and promoting green finance are key measures of environment protection, sustainable growth and the supply-side structural reform.关键词
金融资源配置/环境污染/供给侧结构性改革/可持续增长/可持续金融Key words
financial resource allocation/pollution/supply-side structural reform/sustainable growth/sustainable finance分类
管理科学引用本文复制引用
文书洋,刘锡良..金融错配、环境污染与可持续增长[J].经济与管理研究,2019,40(3):3-20,18.基金项目
国家社会科学基金重大项目"防范系统性和区域性金融风险研究——基于金融分权视角"(13&ZD030) （13&ZD030）
2017年国家建设高水平大学公派研究生项目"金融资源配置与金融可持续发展"(201706980019) （201706980019）
