The impact of environmental regulation on green TFP：A quasi-natural experiment based on China's carbon emissions trading pilot policy

Zhongbo Jing, Zhidong Liu, Ting Wang and Xuan Zhang

Energy, 2024, vol. 306, issue C

Abstract: The carbon emissions trading pilot policy in China serves as a crucial market-oriented regulation tool to achieve green development. This study explores the impact of this policy on Chinese green TFP (GTFP). We utilize the provincial panel data from 2000 to 2017 and employ the GNDDF-Luenberger model to characterize GTFP. The results show that the carbon emissions trading pilot policy significantly improves GTFP. The effects are more pronounced in regions with more foreign direct investment, smaller technological gaps and higher levels of marketization. The carbon emissions trading pilot policy improves GTFP by promoting practical innovation. Furthermore, the promotion of GTFP through the carbon emissions trading pilot policy primarily relies on the enhancement of technological efficiency, rather than technological improvement. Our study provides policy implications for establishing an effective carbon emissions trading market in China.

Keywords: Carbon emissions trading pilot policy; GTFP; Green innovation; Technological improvement; Technological efficiency (search for similar items in EconPapers)
JEL-codes: P18 P48 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:306:y:2024:i:c:s0360544224021315

DOI: 10.1016/j.energy.2024.132357

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