Abstract: China's economy is changing from high-speed growth to high-quality development, the green investment is an important measure to promote high-quality economic development, based on the five dimensions of the new development concept, we will construct a high-quality economic development evaluation index system, measure the high-quality development level, use the panel data of 30 provinces and cities from 2004 to 2017, establish the spatial Dubin model, and empirical study the impact of green investment on high-quality economic development. The results indicate that: during the sample period, the high-quality development of China's overall economy is on the rise year by year, but the differences between regions are large. Judging from Moran's I results, there is a significant spatial correlation in China's economic development. The effect of the combination of green investment and marketization process on economic development is more significant than that of the single indicator of green investment. Green investment under market-oriented conditions only has an effective effect on the economic development of the region, but it will have a certain inhibition effect on neighboring provinces and cities, showing the "siphon effect" of regional economic development.

Key words: marketization, green investment, high-quality economic development, spatial effects