报告题目：Greening through finance？
报告时间： 2021年7月10日上午10:00-11:30
报告人简介：
复旦大学经济学院教授，香港科技大学经济学博士，国家级人才项目获得者，主要从事国际经济与贸易理论和实证研究，在国内外知名经济学期刊《经济研究》《管理世界》《世界经济》《经济学（季刊）》《Economic Journal》《Economic Theory》《Journal of Development Economics》《Journal of International Economics》《Review of Economics and Statistics》等发表多篇高水平论文。
内容摘要：
This paper investigates how green credit regulation affects firms’ loan conditions and their economic and environmental performance. In a simple theoretical model, with strengthened green credit regulations, banks raise loan interest rates to nonabatement firms. Firms that were formerly indifferent to pollution abatement must redetermine their abatement and production strategies. Using disaggregated firm-level data, we find that, after the reinforcement of green credit regulation, noncompliant firms saw a larger increase in interest rates, decrease in loan amounts, and more difficulty in access to loans. We further find different impacts on large and small firms in terms of their loans and their financial and economic responses. Regarding the impact on firms’ environmental performance, although all of these firms reduced their total emissions, the reductions are realized in dissimilar ways; large firms reduced their emission intensity by investing more in adopting abatement facilities, while small firms simply choose to produce less.
