Environmental Effects of Credit Allocation and Environmental Expenditure: Evidence from Theoretical Model and Spatial Econometric Model

doi:10.15936/j.cnki.1008-3758.2022.03.005

Abstract

Abstract: Based on the endogenous growth model， a theoretical model including bank credit allocation， government environmental expenditure and environmental factors is built. The numerical simulation results show that if private enterprises obtain more credit capital， it will increase environmental pollution. In addition， there is a nonlinear relationship between environmental expenditure and environmental quality. Furthermore， the study applies relevant spatial data from 31 provinces in China to a spatial econometric model. The results indicate that environmental pollution among provincial regions shows a significant positive spatial autocorrelation， credit allocation structure tends to private enterprises which is not conducive to the improvement of environmental pollution， and environmental expenditure and environmental pollution display an inverse U-shaped relationship， which supports the numerical simulation results. After introducing the interaction term， it is found that the marginal effect of the credit allocation structure on environmental pollution is related to the government's environmental protection expenditure， and the two have a non-linear relationship. Strengthening the environmental pollution supervision of private enterprises， expanding government expenditures on environmental protection and regional collaborative environmental governance are of great significance to the improvement of environmental quality.

Key words: credit allocation; environmental expenditure; environmental pollution; state-owned enterprise; private enterprise

CLC Number:

F810

HE Jun， YANG Qiming， LIU Ting. Environmental Effects of Credit Allocation and Environmental Expenditure: Evidence from Theoretical Model and Spatial Econometric Model[J]. Journal of Northeastern University(Social Science), 2022, 24(3): 32-41.

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