Affiliations: Institute of Finance, University of International Business and Economics, Beijing, China
Correspondence:
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Corresponding author. Yu Liu, Institute of Finance, University of International Business and Economics, Beijing, 100029, China. E-mail: [email protected].
Abstract: The “One Belt and One Road” is a major strategic deployment proposed by Chinese President Xi Jinping in 2013, and it is important to study the construction of green financial system under the “One Belt and One Road” initiative, especially the quality assessment of green finance to promote high-quality economic development along the route. At the same time, green finance and green “Belt and Road” have become a hot academic topic in the world. In this study, firstly, on the basis of the existing research on green finance, focusing on the evaluation of economic quality of green finance, we innovatively draw on the quality function deployment theory in marketing to logically transform our research ideas and propose a combined comprehensive evaluation method based on the hierarchical analysis (AHP) and entropy method in fuzzy mathematical theory, which makes up for the traditional single fuzzy evaluation method’s influence on the evaluation results. This method makes up for the shortcomings of the traditional single fuzzy evaluation method to evaluate the results of subjective or objective weighting results. In this study, we apply this method to the assessment of the quality of green finance development in “One Belt, One Road”, and it is important that we construct a system of “One Belt, One Road” green finance quality assessment indicators, including one primary indicator, four secondary indicators and 12 tertiary indicators. It is worth noting that our indicator system is different from the traditional quality system of financial quality assessment in that we take green factors into account in the construction of the tertiary indicators, and then use this assessment method to calculate and rank the weights (importance) of the 12 tertiary indicators, taking the actual situation in China as an example. More importantly, our study not only extends the academic research results of economic quality evaluation, but also combines quantitative research with qualitative analysis to propose three targeted countermeasures for the development of green finance in the countries along the Belt and Road. This study can also provide theoretical support for the quality assessment of green finance in countries along the Belt and Road, and promote the high-quality development of green finance in countries along the Belt and Road.
Keywords: Green finance, belt and road, financial quality assessment, quality function deployment
theory, hierarchical analysis, entropy method
