Does the National Credit Demonstration Policy Affect Urban Green Economy Efficiency? Evidence from the Yangtze River Delta Region of China

Haisheng Chen; Dingqing Ni; Shuiping Zhu; Ying Ying; Manhong Shen

doi:10.3390/ijerph19169926

Does the National Credit Demonstration Policy Affect Urban Green Economy Efficiency? Evidence from the Yangtze River Delta Region of China

Int J Environ Res Public Health. 2022 Aug 11;19(16):9926. doi: 10.3390/ijerph19169926.

Authors

Haisheng Chen^{1

2

3

4}, Dingqing Ni⁵, Shuiping Zhu⁶, Ying Ying⁴, Manhong Shen^{1

2

3}

Affiliations

¹ College of Economics and Management, Zhejiang A&F University, Hangzhou 311300, China.
² Institute of Ecological Civilization, Zhejiang A&F University, Hangzhou 311300, China.
³ Research Academy for Rural Revitalization of Zhejiang Province, Zhejiang A&F University, Hangzhou 311300, China.
⁴ Zhejiang Provincial Credit Center, Hangzhou 310007, China.
⁵ Wenzhou Pharmaceutical Industry Development Co., Wenzhou 325099, China.
⁶ College of Environmental Science and Engineering, Donghua University, Shanghai 201620, China.

Abstract

A more scientific green economy efficiency indicator is constructed based on OH (2010), and a multiperiod spatial DID model is used to examine the impact of national credit demonstration policies on urban green economy efficiency in a sample of cities above the prefecture level in the Yangtze River Delta. The study confirms the following: (1) The national credit demonstration policy makes a significant contribution to the green economic efficiency of cities, and it is conducive to strengthening awareness of the rule of law in the market to regulate market order. (2) The demand for credit regulation in coastal areas has increased under the new development pattern, and the national credit demonstration policy has effectively enhanced green economy efficiency through institutional supply. (3) Under the national credit demonstration policy, the subprovincial level and above can mobilise more resources for policy refinement and support, reducing transaction costs and improving the efficiency of the green economy. (4) The impact of the national credit demonstration policy on the efficiency of Zhejiang's green economy is more obvious; but, under the overall framework of the Yangtze River Delta, the policy has a more prominent role in promoting green economy efficiency in other provinces. Policy insights are as follows: (1) Different cities have different degrees of impact on the efficiency of the green economy from the national credit demonstration policy, and they should implement differentiated measures based on regional heterogeneity; (2) regulating the use of administrative resources and avoiding undue administrative intervention are important prerequisites for promoting regional integration to enhance the efficiency of the green economy; and (3) strengthening interprovincial credit policy synergies can help to alleviate administrative distortions of policy implementation and enhance the efficiency of the regional green economy.

Keywords: distortionary effects; green economy efficiency; institutional supply; national credit demonstration policy; regional heterogeneity.

Publication types

Research Support, Non-U.S. Gov't

MeSH terms

China
Cities
Conservation of Energy Resources*
Economic Development
Efficiency
Policy
Rivers*
Sustainable Development

Grants and funding

This research was funded by the Major Special Project for Philosophical and Social Science Research of the Ministry of Education of China (no. 2022JZDZ009) and the Major Topics of Zhejiang Cultural Research Project (no. 21WH70098ZD).