Green finance and high-quality development of marine economy

Purpose: With 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/approach: In 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. Findings: The 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/value: This paper seeks new growth drivers, green finance, for the high-quality development of the marine economy, which few scholars have studied.