The Impact of Green Credit on the Promotion of Green Total Factor Productivity in Manufacturing Industry:An Empirical Test Based on Provincial Panel Data
The article,based on panel data from 31 provinces(municipalities)in China from 2010 to 2021,analyzes the impact of green credit on the total factor productivity of the manufacturing industry.Empirical results demonstrate that green credit significantly promotes the improvement of green total factor productivity in the manufacturing sector.Mechanism tests reveal the existence of transmission mechanisms such as promoting green technological innovation and guiding foreign investment.The moderation effect analysis indicates that environmental regulation plays a positive moderating role in the process of green credit affecting manufacturing industry's green total factor productivity.Heterogeneity tests show that the promoting effect of green credit on manufacturing industry's green total factor productivity varies across regions,with a more pronounced effect in the eastern regions.
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