The Impact of Green Credit Policy on Technological Innovation of Firms in Pollution-Intensive Industries: Evidence from China

• DOI: 10.3390/su12114493
• Publication Date: 2020-06-02T13:19:27Z
• Authors: Shixian Ling; Guosheng Han; Dong An; William Cannon Hu...; Hui Li
• Keywords: Green innovation; Debt financing

How to promote technological innovation with green finance policy has been a focal topic in the global field recent years. Using difference-in-difference approach model, this paper investigated impact of Green Credit Guidance (GCG) implemented by Chinese government 2012 on firms pollution-intensive industries. The empirical results indicated that GCG had negative impact, not only research and development (R&D) input, but also output, impacts different property rights scales were consistent. Further showed reduced long-term debt industries, then significantly decreased R&D input output; is, is mediator technology innovation. revealed fails This suggests China’s credit should pay more attention innovation, transformation, upgrading