The spatial panel econometric diagnosis of the influence of green finance on Chinese economic ecologization.

Green finance has the obvious impetus function to economic ecologization development. Through the test of the spatial agglomeration degree of China's green finance and ecological economic development index from 2001 to 2017 (30 provinces except for Hong Kong, Tibet, Taiwan, and Macao), this paper analyzes the spatial correlation of the green finance index and the ecological economic development index. It uses the spatial panel econometric regression analysis model to reveal the impact of Green Finance on China's economic ecology. Results show that (1) the development level of green finance and economic ecologization in China has improved to varying degrees in different periods. However, there are still noticeable regional differences between the eastern, central, western, and northeast regions; (2) green finance plays a positive role in promoting economic ecologization. Developing green finance in one province can promote its economic ecologization and positively impact on economic ecologization of surrounding provinces. (3) Economic ecologization also has a positive spillover effect. The improvement of the ecological economic level of a province can drive the improvement of the ecological economic level of other provinces. Therefore, improving green finance across the country has become a meaningful way to promote economic ecology and promote China's high-quality development.