The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China

Shuai Wang; Zhizhang Li; Chen Wen

doi:doi:10.11648/j.ijefm.20180606.14

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The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China

Shuai Wang, Zhizhang Li, Chen Wen

Published in International Journal of Economics, Finance and Management Sciences (Volume 6, Issue 6)

Received: 9 December 2018 Published: 11 December 2018

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Abstract

Financial support is an important boost power for low carbon economy. From macroeconomic and microeconomic level, this paper analyzes the impact of credit support on low carbon economy. At the macro level, this paper uses VAR model to analyze the relationship between credit support, low carbon economy and GDP. At the micro level, this paper uses dynamic panel data model to analyze the relationship between green loan, operational efficiency and financial performance. The empirical result shows that under the macroeconomic analysis framework, the support effect of the loan on low carbon economy is significant, on the other hand, the decreasing of energy consumption caused by the low carbon economy is not the granger cause of the credit loan, the endogenous development ability still needs to be formed, while under the microeconomic analysis framework, we find that the short-term loan negatively related with the operation efficiency, and long-term loan positively related with the operational efficiency, while combining the influence of these two categories, the loan does not have a significant impact on the operational efficiency and financial performance of the energy-saving and environment enterprises. From the micro level, the role of credit is still constrained for supporting the low carbon economy, and the efficiency. Although society pays more and more attention to low carbon economy, there is a far distance to fill the goal of low carbon economy establishment.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 6, Issue 6)
DOI	10.11648/j.ijefm.20180606.14
Page(s)	269-276
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2018. Published by Science Publishing Group

Keywords

Credit Support, Low Carbon Economy, Granger Causality Test

References

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APA Style

Shuai Wang, Zhizhang Li, Chen Wen. (2018). The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China. International Journal of Economics, Finance and Management Sciences, 6(6), 269-276. https://doi.org/10.11648/j.ijefm.20180606.14

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ACS Style

Shuai Wang; Zhizhang Li; Chen Wen. The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China. Int. J. Econ. Finance Manag. Sci. 2018, 6(6), 269-276. doi: 10.11648/j.ijefm.20180606.14

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AMA Style

Shuai Wang, Zhizhang Li, Chen Wen. The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China. Int J Econ Finance Manag Sci. 2018;6(6):269-276. doi: 10.11648/j.ijefm.20180606.14

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@article{10.11648/j.ijefm.20180606.14,
  author = {Shuai Wang and Zhizhang Li and Chen Wen},
  title = {The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {6},
  number = {6},
  pages = {269-276},
  doi = {10.11648/j.ijefm.20180606.14},
  url = {https://doi.org/10.11648/j.ijefm.20180606.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20180606.14},
  abstract = {Financial support is an important boost power for low carbon economy. From macroeconomic and microeconomic level, this paper analyzes the impact of credit support on low carbon economy. At the macro level, this paper uses VAR model to analyze the relationship between credit support, low carbon economy and GDP. At the micro level, this paper uses dynamic panel data model to analyze the relationship between green loan, operational efficiency and financial performance. The empirical result shows that under the macroeconomic analysis framework, the support effect of the loan on low carbon economy is significant, on the other hand, the decreasing of energy consumption caused by the low carbon economy is not the granger cause of the credit loan, the endogenous development ability still needs to be formed, while under the microeconomic analysis framework, we find that the short-term loan negatively related with the operation efficiency, and long-term loan positively related with the operational efficiency, while combining the influence of these two categories, the loan does not have a significant impact on the operational efficiency and financial performance of the energy-saving and environment enterprises. From the micro level, the role of credit is still constrained for supporting the low carbon economy, and the efficiency. Although society pays more and more attention to low carbon economy, there is a far distance to fill the goal of low carbon economy establishment.},
 year = {2018}
}

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TY  - JOUR
T1  - The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China
AU  - Shuai Wang
AU  - Zhizhang Li
AU  - Chen Wen
Y1  - 2018/12/11
PY  - 2018
N1  - https://doi.org/10.11648/j.ijefm.20180606.14
DO  - 10.11648/j.ijefm.20180606.14
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 269
EP  - 276
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20180606.14
AB  - Financial support is an important boost power for low carbon economy. From macroeconomic and microeconomic level, this paper analyzes the impact of credit support on low carbon economy. At the macro level, this paper uses VAR model to analyze the relationship between credit support, low carbon economy and GDP. At the micro level, this paper uses dynamic panel data model to analyze the relationship between green loan, operational efficiency and financial performance. The empirical result shows that under the macroeconomic analysis framework, the support effect of the loan on low carbon economy is significant, on the other hand, the decreasing of energy consumption caused by the low carbon economy is not the granger cause of the credit loan, the endogenous development ability still needs to be formed, while under the microeconomic analysis framework, we find that the short-term loan negatively related with the operation efficiency, and long-term loan positively related with the operational efficiency, while combining the influence of these two categories, the loan does not have a significant impact on the operational efficiency and financial performance of the energy-saving and environment enterprises. From the micro level, the role of credit is still constrained for supporting the low carbon economy, and the efficiency. Although society pays more and more attention to low carbon economy, there is a far distance to fill the goal of low carbon economy establishment.
VL  - 6
IS  - 6
ER  -

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Author Information

Shuai Wang

Economic School, Central South University of Forestry and Technology, Changsha, China
Zhizhang Li

Economic School, Central South University of Forestry and Technology, Changsha, China
Chen Wen

Economic School, Central South University of Forestry and Technology, Changsha, China

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Plain Text BibTeX RIS

APA Style

Shuai Wang, Zhizhang Li, Chen Wen. (2018). The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China. International Journal of Economics, Finance and Management Sciences, 6(6), 269-276. https://doi.org/10.11648/j.ijefm.20180606.14

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ACS Style

Shuai Wang; Zhizhang Li; Chen Wen. The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China. Int. J. Econ. Finance Manag. Sci. 2018, 6(6), 269-276. doi: 10.11648/j.ijefm.20180606.14

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AMA Style

Shuai Wang, Zhizhang Li, Chen Wen. The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China. Int J Econ Finance Manag Sci. 2018;6(6):269-276. doi: 10.11648/j.ijefm.20180606.14

Copy | Download

@article{10.11648/j.ijefm.20180606.14,
  author = {Shuai Wang and Zhizhang Li and Chen Wen},
  title = {The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {6},
  number = {6},
  pages = {269-276},
  doi = {10.11648/j.ijefm.20180606.14},
  url = {https://doi.org/10.11648/j.ijefm.20180606.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20180606.14},
  abstract = {Financial support is an important boost power for low carbon economy. From macroeconomic and microeconomic level, this paper analyzes the impact of credit support on low carbon economy. At the macro level, this paper uses VAR model to analyze the relationship between credit support, low carbon economy and GDP. At the micro level, this paper uses dynamic panel data model to analyze the relationship between green loan, operational efficiency and financial performance. The empirical result shows that under the macroeconomic analysis framework, the support effect of the loan on low carbon economy is significant, on the other hand, the decreasing of energy consumption caused by the low carbon economy is not the granger cause of the credit loan, the endogenous development ability still needs to be formed, while under the microeconomic analysis framework, we find that the short-term loan negatively related with the operation efficiency, and long-term loan positively related with the operational efficiency, while combining the influence of these two categories, the loan does not have a significant impact on the operational efficiency and financial performance of the energy-saving and environment enterprises. From the micro level, the role of credit is still constrained for supporting the low carbon economy, and the efficiency. Although society pays more and more attention to low carbon economy, there is a far distance to fill the goal of low carbon economy establishment.},
 year = {2018}
}

Copy | Download

TY  - JOUR
T1  - The Impact of Credit Support on Low Carbon Economy: An Empirical Study Base on Macro and Micro Economic Level in China
AU  - Shuai Wang
AU  - Zhizhang Li
AU  - Chen Wen
Y1  - 2018/12/11
PY  - 2018
N1  - https://doi.org/10.11648/j.ijefm.20180606.14
DO  - 10.11648/j.ijefm.20180606.14
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 269
EP  - 276
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20180606.14
AB  - Financial support is an important boost power for low carbon economy. From macroeconomic and microeconomic level, this paper analyzes the impact of credit support on low carbon economy. At the macro level, this paper uses VAR model to analyze the relationship between credit support, low carbon economy and GDP. At the micro level, this paper uses dynamic panel data model to analyze the relationship between green loan, operational efficiency and financial performance. The empirical result shows that under the macroeconomic analysis framework, the support effect of the loan on low carbon economy is significant, on the other hand, the decreasing of energy consumption caused by the low carbon economy is not the granger cause of the credit loan, the endogenous development ability still needs to be formed, while under the microeconomic analysis framework, we find that the short-term loan negatively related with the operation efficiency, and long-term loan positively related with the operational efficiency, while combining the influence of these two categories, the loan does not have a significant impact on the operational efficiency and financial performance of the energy-saving and environment enterprises. From the micro level, the role of credit is still constrained for supporting the low carbon economy, and the efficiency. Although society pays more and more attention to low carbon economy, there is a far distance to fill the goal of low carbon economy establishment.
VL  - 6
IS  - 6
ER  -

Copy | Download