基于金融CGE模型的中国绿色信贷政策短中长期影响分析

doi:10.16381/j.cnki.issn1003-207x.2015.04.006

Chinese Journal of Management Science ›› 2015, Vol. 23 ›› Issue (4): 46-52.doi: 10.16381/j.cnki.issn1003-207x.2015.04.006

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The Short, Medium and Long Term Effects of Green Credit Policy in China Based on a Financial CGE Model

LIU Jing-yu¹, XIA Yan¹, LIN Shih-mo², WU Jie¹, FAN Ying¹

1. Center for Energy and Environmental Policy Research, Institute of Policy Management, Chinese Academy of Sciences, Beijing 100190, China;
2. Department of International Business and Center for Applied Economic Modeling, Chung Yuan Christian University, Taiwan 32023, China

Received:2014-08-26 Revised:2014-11-06 Online:2015-04-20 Published:2015-04-24

Abstract

Abstract: Market-based policies are implemented to achieve environmental targets in China's 12^th five-year plan. Green credit policy is one of the most important financial policies. In this paper, it is assumed that commercial banks request higher interest rates from the high-emission industries and try to explore mechanism and path of green credit policy with the model, as well as policy effects on industrial and macro economy. A Chinese financial CGE model is applied and data from listing corporation annual reports, real SAM of China, flow of fund tables and Yearbook of Finance of China in 2006 and 2007 are used. It is found that green credit policy is effective in reducing investment of the high-emission industries. And in the short or medium term, it has negative impacts on the production activities of paper and chemical industries but it is not effective on non-metal ores or steel and metals industries.

Key words: green credit, financial CGE

CLC Number:

F832.42

LIU Jing-yu, XIA Yan, LIN Shih-mo, WU Jie, FAN Ying. The Short, Medium and Long Term Effects of Green Credit Policy in China Based on a Financial CGE Model[J]. Chinese Journal of Management Science, 2015, 23(4): 46-52.

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The Short, Medium and Long Term Effects of Green Credit Policy in China Based on a Financial CGE Model

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