绿色金融赋能林业高质量发展的效应与机制研究OACHSSCD

⑴ Background——At present,China's forestry is confronted with some dilemmas.Green finance can opti-mize the allocation of forestry resources,promote the transformation of ecological value and drive the upgrading of the forestry industry.Existing studies have rarely systematically evaluated its comprehensive effects on forestry de-velopment from the perspective of the overall green finance framework.They have neither analyzed the impacts of green finance on high-quality development of forestry from the integrated perspective of coordinated development of industry,ecology and people's livelihood,nor revealed the mechanism through which green finance promotes high-quality development of forestry. ⑵ Methods——First,based on the theoretical analysis,this paper put forward the research hypotheses.Then,using the panel data of 31 provinces(municipalities and autonomous regions)in China from 2012 to 2023,the entropy method was adopted to construct a comprehensive evaluation index system for high-quality de-velopment of forestry,and a two-way fixed effects model was used for the benchmark regression analysis.Com-bined with the heterogeneity tests and mechanism analysis,this paper systematically examined the impacts and transmission paths of green finance policies on high-quality development of forestry. ⑶ Results——First,green finance has a significant positive effect on the high-quality development of for-estry.With the exception of green equity,green credit,green investment,green bonds,green funds,green in-surance,and green support all play a significant role in promoting the high-quality development of forestry.Sec-ond,green finance not only supports the high-quality development of forestry through direct capital injection,but also indirectly empowers the high-quality development of forestry through three mediatingpaths:promoting green technological innovation,enhancing mechanization levels and advancing human capital accumulation.Third,the promotion effect of green finance on the high-quality development of forestry shows significant regional heteroge-neity.The promotion effect is more pronounced in regions with lower economic development and lower financial development,richer forestry resource endowments,stronger fiscal support for agriculture,forestry and water con-servancy,the impact of green finance on the high-quality development of forestry exhibits a significant single-threshold effect. ⑷ Conclusions and Discussions——First,improve the forestry green financial support system based on green credit and the coordinated use of various financial tools,and accelerate the institutional construction of for-est rights confirmation,evaluation and transfer.Second,strengthen technological innovation,the improvement of mechanization level and the accumulation of human capital.Guide financial institutions to allocate green credit to forestry technology R&D,intelligent equipments and green patent transformation projects.Incorporate enterprise R&D intensity,the proportion of technical personnel and other indicators into the green finance evaluation sys-tem.Third,for regions with lower economic development,guide capital into the forestry through targeted credit and other measures.For regions with higher economic development,support forestry technological innovation and high-value-added business formats.In regions rich in forest resources,promote carbon sinks development,eco-logical restoration,and the operation of ecological products.In regions with insufficient forest resources,focus on developing forestry services,cultural tourism integration,and intensive processing.Fourth,implement differenti-ated green finance support strategies oriented toward industrial structure upgrading.