The Impact of Carbon Emissions Trading Pilot Policy on Industrial Structure Upgrading

Zhaoyang Zhao, Shuning Zhou, Siying Wang, Chong Ye () and Tuolei Wu ()
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Zhaoyang Zhao: North-China Company, Sinopec Chemical Commercial Holding Company Limited, Beijing 100029, China
Shuning Zhou: School of Economics and Resource Management, Beijing Normal University, Beijing 100875, China
Siying Wang: School of Business, Beijing Technology and Business University, Beijing 102488, China
Chong Ye: School of Economics and Management, Fuzhou University, Fuzhou 350108, China
Tuolei Wu: School of Economics and Management, Tongji University, Shanghai 200092, China

Sustainability, 2022, vol. 14, issue 17, 1-25

Abstract: Using the carbon emissions trading pilot policy implemented since 2011 as a quasi-natural experiment, this paper constructs a multi-period DID model based on panel data of 280 prefecture-level cities from 2006–2019 to explore the impact of the carbon emissions trading pilot policy on industrial structure upgrading and conducts a heterogeneity test and mechanism test. This study finds that the carbon emissions trading pilot policy significantly promotes the upgrading of industrial structures, especially for larger cities and non-resource-based cities. Further exploration of the impact mechanism shows that the carbon emissions trading pilot policy promotes industrial structure upgrading mainly through green innovation. The findings of the study have significant implications for the construction of a high-quality, modernized economic system in China.

Keywords: multi-period DID model; non-resource-based city; green innovation; modernized economic system (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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