中国绿色金融政策效度问题研究——基于库兹涅茨曲线理论的实证检验

Research on the Validity of China’s Green Financial Policy——An Empirical Test Based on the Kuznets Curve Theory

目前,我国已建立了包含绿色信贷、绿色债券、绿色保险、环境信息披露、环境权益交易市场等方面的细化政策以及与之匹配的财政政策和货币政策的绿色金融政策框架,各地区积极出台绿色金融相关的政策措施,创新绿色金融相关工具,推进各地绿色金融的发展。本文基于现有的绿色金融相关政策,进行了政策要素分析,并选取1981-2017年相关数据并采用库兹涅茨二次回归模型进行分析,将绿色金融政策发展分为萌芽阶段、推行阶段与完善阶段三阶段,分析相应阶段经济发展的环境效应,并提出完善包含绿色信贷、绿色债券与绿色保险的绿色金融政策体系、完善绿色金融市场建设与绿色金融监管体系的政策建议。

At present,China has established a relatively complete green financial policy framework,including detailed policies in green credit,green bonds,green investment,green insurance,environmental information disclosure,environmental rights and interests’ trading market,and matching fiscal policy and monetary policy.Various regions have actively introduced green finance related policies and measures,innovated green finance tools to promote the development of green finance in various regions.Based on the existing green finance related policies,this paper analyzes the policy elements,selects the relevant data from 1981 to 2017 and uses the Kuznets quadratic regression model to analyze.The development of green finance policy is divided into three stages:the embryonic stage,the implementation stage and the improvement stage,analyzes the environmental effects of the corresponding stages of economic development and puts forward to improve the green financial policy system including green credit,green bonds and green insurance,perfect the green financial market construction,perfect the green financial supervision system.