摘要
改革开放以来，我国在取得举世瞩目的成就的同时，也面临环境污染加重、
经济发展质量偏低的问题。发展绿色信贷，推动产业结构优化是破解我国资源环
境约束突出问题，实现可持续发展，提升经济发展质量的关键一步。从内涵来看，
绿色信贷旨在将节约资源、降低能耗等生态环境要素纳入信贷决策中，以差别利
率引导资金从“两高一剩”产业流向绿色环保产业。因此，发展绿色信贷以推动
产业结构优化以及经济高质量发展便显得至关重要。
在资本形成、信号传递、反馈与信用催生以及金融供给侧结构性改革机制的
作用下，绿色信贷在促进产业结构优化的同时，还能显著推动经济高质量发展；
并且，推动产业结构优化也是实现经济高质量发展的应有之义。鉴于此，为进一
步理清绿色信贷、产业结构优化以及经济高质量三者之间相互作用的微观机理，
把握其现实运行状况，本研究在梳理绿色信贷、产业结构优化以及经济高质量发
展相关文献的基础上，首先对绿色信贷促进产业结构优化以及经济高质量发展进
行了定性分析，具体包括外部性理论、信贷配给理论、可持续发展理论以及绿色
信贷的资本形成机制、信号传递机制、反馈与信用催生机制等。在定性研究的基
础上，选取2008-2019年全国30个省、自治区、直辖市的相关数据，对产业结
构优化在绿色信贷促进经济高质量发展中的中介效应进行了实证检验，并进一步
分时期、分区域检验了实证分析的结果。
理论与实证分析的结果表明：绿色信贷在任何时间、任何区域对经济高质量
发展均有显著促进作用；绿色信贷可以通过产业结构优化促进经济高质量发展；
产业结构优化在绿色信贷促进经济高质量发展进程中的中介效应存在区域差异
性；在东部经济区，绿色信贷主要通过产业结构合理化与生态化促进经济高质量
发展，在中部经济区绿色信贷主要通过产业结构合理化与高级化的协同演进促进
经济高质量发展，在西部经济区由于经济发展滞后、产业基础薄弱等现实问题，
产业结构优化对于绿色信贷促进经济高质量发展的中介效应尚未完全展现。
关键词：绿色信贷，产业结构优化，经济高质量发展，中介效应
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Abstract
Since the reform and opening up, while my country has made remarkable
achievements, it also faces the problems of aggravating environmental pollution and
low quality of economic development. Developing green credit and promoting the
optimization of industrial structure is a key step to solve the prominent problem of my
country's resource and environmental constraints, achieve sustainable development,
and improve the quality of economic development. In terms of connotation, green
credit aims to incorporate eco-environmental elements such as resource conservation
and energy reduction into credit decision-making, and guide funds to flow from “two
high and one surplus” industries to green environmental protection industries with
differential interest rates. Therefore, it is very important to develop green credit to
promote the optimization of industrial structure and high-quality economic
development.
Under the role of capital formation, signal transmission, feedback and credit
generation, and financial supply-side structural reform mechanism, green credit can
not only promote the optimization of industrial structure, but also significantly
promote high-quality economic development; The proper meaning of high-quality
economic development. In view of this, in order to further clarify the
micro-mechanism of the interaction between green credit, industrial structure
optimization and high-quality economic development, and to grasp its actual
operation status, this study combs the literature related to green credit, industrial
structure optimization and high-quality economic development. On the basis of green
credit, it firstly conducts a qualitative analysis on the promotion of industrial structure
optimization and high-quality economic development by green credit, including
externality theory, credit rationing theory, sustainable development theory, and green
credit's capital formation mechanism, signal transmission mechanism, feedback and
Credit-promoting mechanism, etc. On the basis of qualitative research, the relevant
data of 30 provinces, autonomous regions and municipalities across the country from
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2008 to 2019 were selected to empirically test the mediation effect of industrial
structure optimization in promoting high-quality economic development through
green credit. The results of the empirical analysis are examined by region.
The results of theoretical and empirical analysis show that green credit can
significantly promote high-quality economic development at any time and in any
region; green credit can promote high-quality economic development through
industrial structure optimization; industrial structure optimization can promote
high-quality economic development through green credit. There are regional
differences in the intermediary effect in the development process; in the eastern
economic zone, green credit mainly promotes high-quality economic development
through the rationalization and ecologicalization of the industrial structure, and in the
central economic zone, green credit mainly promotes the coordinated evolution of the
rationalization and advanced industrial structure. High-quality economic development.
In the western economic zone, due to the practical problems of lagging economic
development and weak industrial foundation, the intermediary effect of industrial
structure optimization on green credit to promote high-quality economic development
has not been fully demonstrated.
Key words：green credit，industrial structure optimization，high-quality economic，
development，mediation effect
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