How to promote green transformation of mariculture industry under the influence of financial constraints? A policy simulation based on peer incentive perspective

Abstract

The green transformation of mariculture is a crucial aspect for promoting the sustainable development of the marine environment. To address financial constraints such as the high financial pressure on local governments and the difficulty of traditional fishing enterprises in meeting green credit conditions due to technical resource limitations, the paper proposes a peer incentive mechanism. Then, this paper focuses on the impact of peer incentive policy on the green transition of the mariculture industry by constructing a four-party evolutionary game model among local governments, financial institutions, green mariculture enterprises and traditional mariculture enterprises. The main results are, (1) There exists a conflict between environmental regulation and green credit, and peer incentive policy can effectively mitigate the conflict relationship. (2) The peer incentive policy can accelerate the green transformation of the mariculture industry more effectively than incentive-oriented environmental regulation. (3) Both the allocation ratio of peer incentive levy and the efficiency of monitoring of green fishing enterprises to traditional fishing enterprises can regulate the synergistic effect among these policies.

Keywords: Evolutionary game; Financial constraints; Green transformation; Mariculture industry; Peer incentive.