The influence of finance on China's green development: an empirical study based on quantile regression with province-level panel data.

Finance has a strong role in promoting green development; however, there are very few studies quantifying this relationship. To this end, based on the official green development indicator system of the Chinese government and province-level data from 2006 to 2017, the quantile regression model was used to analyze quantitatively the impact of finance on green development. The results show that financial development contributed significantly to green development, and furthermore, financial efficiency and green finance have a strong positive effect with the increase of the quantile, and financial scale also has a significant positive effect, but a diminishing marginal effect. In addition, the impact of financial development on green development has regional differences. In the eastern region, the finance factors can promote green development, but the financial scale and the green finance promotion function weaken along with the quantile increase. The financial scale and green finance do not support green development significantly in the central region. Financial scale, efficiency, and green finance support green development in the west region.