With urgent desire of promoting sustainable development, this study explored the impact and affecting mechanism of green credit on green economy efficiency through spatial lag model. Panel data from 2008 to 2019 of 30 selected provinces and cities in China were collected to portray the green economy efficiency with application of Sup-SBM DEA including unexpected outputs. The results show that (1) green credit had significant promoting effect on green economy efficiency, while time-space inconsistency existed. (2) During the promoting process, level of marketization and environmental regulation generated threshold effects, which were positively correlated with regional green economy efficiency. (3) Industrial structure upgrading and environmental investment played positive intermediary roles between green credit and green economy efficiency. (4) Considering endogenous issues, the positive effect still existed though the promotion effect was weakened. This study further enriches the literature and provides deep insights into the policy design when formulating the green economy path.
Keywords: Green credit; Green economic efficiency; Mediating effect; Quantile regression; Spatial measurement; Threshold effect.
© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.