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| Research on the Synergy between Green Credit and Environmental Fiscal Policy |
| Wei Wei1,2,Cao Jinglin1 |
| (1.School of Statistics,Tianjin University of Finance and Economics,Tianjin 300222,China;2.Tianjin Finance Bureau,Tianjin 300042,China) |
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Abstract A single green credit policy or environmental fiscal policy has limitations in environmental governance and industrial upgrading. Therefore, on the basis of explaining the mechanism of green credit policy and fiscal policy respectively, this paper gives the possible channels of policy synergy between them. Then, using the provincial panel data from 2007 to 2016, this paper examines whether there is synergy between green credit and environmental fiscal policy in promoting industrial upgrading, and examines the relevant factors that may enhance the synergistic effect between them. The empirical results show that there is a significant synergistic effect between green credit and fiscal policy, and the synergistic effect between green credit and tax policy is better than that between green credit and expenditure policy, while the level of financial development can significantly promote the synergy between green credit and environmental fiscal policy. In addition, the paper also examines the relationship between policy synergy and unit energy consumption and unit pollution emissions, and draws similar conclusions.
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Received: 13 March 2019
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