Green finance and high-quality development of marine economy

Abstract

PurposeWith the Chinese marine economy developing rapidly, the environmental problem has been occurring frequently, which needs green finance that supports energy conservation, environmental protection, and sustainable development to solve.Design/methodology/approachIn this paper, the entropy method is used to measure the development level of green finance, the DEA-ML index is used to measure the green total factor productivity which is used to indicate the high-quality development level of the marine economy in 11 coastal provinces (cities), then the grey correlation degree between them whose result shows that there is a certain correlation between the two variables is calculated. The fixed-effect model was used to analyze the relationship between them.FindingsThe results show that the development level of green finance can promote the high-quality development of the marine economy, but there are still some problems in the process of green finance supporting the marine economy.Originality/valueThis paper seeks new growth drivers, green finance, for the high-quality development of the marine economy, which few scholars have studied.