Evolutionary analysis of green credit and automobile enterprises under the mechanism of dynamic reward and punishment based on government regulation

To explore the green development of automobile enterprises and promote the achievement of the“dual carbon”target,based on the bounded rationality assumptions,this study constructed a tripartite evolutionary game model of gov-ernment,commercial banks,and automobile enterprises;introduced a dynamic reward and punishment mechanism;and analyzed the development process of the three parties’strategic behavior under the static and dynamic reward and punish-ment mechanism.Vensim PLE was used for numerical simulation analysis.Our results indicate that the system could not reach a stable state under the static reward and punishment mechanism.A dynamic reward and punishment mechanism can effectively improve the system stability and better fit real situations.Under the dynamic reward and punishment mechan-ism,an increase in the initial probabilities of the three parties can promote the system stability,and the government can im-plement effective supervision by adjusting the upper limit of the reward and punishment intensity.Finally,the implementa-tion of green credit by commercial banks plays a significant role in promoting the green development of automobile enter-prises.

Examining the Effects and Operational Mechanisms of Green Credit on Carbon Emissions in Chinese Regions

The utilization of a green financial system,particularly through the implementation of green credit,plays a pivotal role in fostering environmentally sustainable,low-carbon economic growth and facilitating the transition toward a more ecologically responsible economy.This paper employs a two-way fixed-effects model,utilizing provincial panel data spanning from 2012 to 2020,to investigate the influence of green credit on regional carbon emissions within different regions of China.The results reveal a significant reduction in carbon emissions as a consequence of the green credit program’s implementation.The analysis of the pathway indicates that green credit is instrumental in mitigating carbon emissions by instigating shifts in the energy mix,with evidence suggesting a partial mediating effect.Furthermore,a heterogeneity analysis discovered that the suppressive impact of green credit on carbon emissions is more pronounced in the eastern and western regions of China,while it is less significant in the central and northeastern areas.The implications of this study provide robust evidence in support of the role of green credit in reducing carbon emissions and can serve as a valuable resource for policymakers aiming to promote the expansion of green credit programs and,in turn,contribute to substantial reductions in carbon emissions.

Impact of the green credit policy on external financing,economic growth and energy consumption of the manufacturing industry

China attempts to achieve energy conservation,emission reduction and environmental protection through the implementation of the green credit policy,but its implementation impact is still controversial.An important content of the green credit policy is to require banking and financial institutions to tighten the credit exposure of industries of‘high pollution and high energy consumption’and industries with overcapacity,so as to use economic leverage to curb their blind expansion and reduce energy consumption by controlling external financing.This paper examined the impact and the lingering effects of the green credit policy on external financing,economic growth and energy consumption in the manufacturing industry,which was most influenced by the green credit policy,from 2003 to 2016 by using the DID method.Furthermore,this paper estimated the dynamic endogenous relationships among external financing,economic growth and energy consumption with two-step system GMM model to investigate the influential path of the green credit policy.The results showed that:the green credit policy had a significant negative impact on the external financing of manufacturing industry,but its negative impact on the economic growth and energy consumption of manufacturing industry was not statistically significant,and the effect of the green credit policy had a dynamic feature of weakening with time.Additionally,in the manufacturing industry,there was a bilateral causal relationship between the energy consumption and economic growth of the control group industry and the processing group industry.There was a bilateral causal relationship between the economic growth and external financing of the control group industries in the manufacturing industry.There was a unilateral causal relationship between the economic growth and external financing of the processing group industries in the manufacturing industry,while the external causality existed between the control group industries and the processing group industries in the manufacturing industry.The causal relationship between the financing and energy consumption was not statistically significant.At present,the transmission path of the green credit policy is that the green credit policy controls external financing,then affects economic growth and ultimately inhibits energy consumption,but the effectiveness of the path is not statistically significant.The conclusion of this paper provides policy reference and scientific basis for the adjustment and improvement of green credit.

The Coupling Relationships and Influence Mechanisms of Green Credit and Energy-Environment-Economy Under China’s Goal of Carbon Neutrality

Under the goal of carbon neutrality,it is critical for China to give full play to the role of green credit,and promote the coordinated development of energy-environment-economy(3E)system.Based on the data of China from 2000 to 2020,the authors build the environmental pollution index,energy transformation index and high-quality economic development index.By using Bayesian network model(BN),the authors investigate the coupling relationships and influence mechanisms of green credit and 3E system.The results show that the main cause of environmental pollution is the annual increase of carbon dioxide emissions.Green credit can reduce carbon emissions to a certain extent,and alleviate environmental pollution through energy structure,technological progress and per capita GDP.Clean energy utilization and per capita GDP growth also help to control environmental pollution.Green credit can stimulate technological progress and accelerate energy transformation together with technological progress.Clean energy utilization can facilitate the upgrading of industrial structure,industrial structure upgrading and green credit can restrict the level of opening up.Technological progress promotes per capita GDP growth.Per capita GDP growth can reduce energy intensity and improve urbanization and per capita energy consumption.

Resource Allocation Based on DEA and Non-Cooperative Game

Resource allocation is one of the most important applications of data envelopment analysis(DEA).Usually,the resource to be allocated is directly related to the interests of decision-making units(DMUs),thus the dynamic non-cooperative game is one of the representative behaviours in the allocation process.However,it is rarely considered in the previous DEA-based allocation studies,which may reduce the acceptability of the allocation plan.Therefore,this paper proposes a DEA-based resource allocation method considering the dynamic non-cooperative game behaviours of DMUs.The authors first deduce the efficient allocation set under the framework of variable return to scale(VRS)and build the allocation model subjecting to the allocation set.Then an iteration algorithm based on the concept of the non-cooperative game is provided for generating the optimal allocation plan.Several interesting characteristics of the algorithm are proved,including i)the algorithm is convergent,ii)the optimal allocation plan is a unique Nash equilibrium point,and iii)the optimal allocation plan is unique no matter which positive value the initial allocation takes.Some advantages of the allocation plan have been found.For example,the allocation plan is more balanced,has more incentives and less outliers,compared with other DEA-based allocation plans.Finally,the proposed method is applied to allocate the green credit among the 30 Chinese iron and steel enterprises,and the results highlight the applicability of the allocation method and solution approach.Therefore,the approach can provide decision makers with a useful resource allocation tool from the perspective of dynamic non-cooperative game.