| Since joining the WTO,China has undertaken the transfer of industries from developed countries with its cheap labor costs and loose environmental regulations and has gradually become a major manufacturing country.However,in recent years,the construction of China’s ecological civilization has continued to advance,the state has paid more attention to environmental protection,and environmental supervision has become more stringent.With the increase in compliance costs brought about by environmental regulations,the return of high-end manufacturing in developed countries and the replacement of low-end manufacturing in other developing countries have frequently appeared.How to reasonably promote environmental regulation and realize the upgrading of manufacturing industry on the basis of safeguarding the ecological environment is a major issue facing the development of high quality in China’s manufacturing industry.Enterprise total factor productivity is the driving force to ensure economic growth,enterprise export domestic value-added rate is the embodiment of a country’s international competitiveness,enterprise energy efficiency is an important source of sustainable economic development of a country,and efforts to enhance enterprise total factor productivity,enterprise value chain division of labor status and energy efficiency is the fundamental to ensure the upgrading of manufacturing industry.Based on the gradual improvement of China’s environmental regulation policy system and the tightening of the intensity of environmental regulation,this paper studies the effect and micro-mechanism of environmental regulation on China’s manufacturing upgrading,taking enterprises’ total factor productivity,enterprises’ Global Value Chain division position and enterprises’ energy utilization efficiency as some indicators to measure the upgrading of China’s manufacturing industry.This study provides a new direction for standardizing and perfecting the formulation of environmental regulation policy,and then provides new ideas for realizing the five development concepts of "green,innovation,openness,coordination and sharing",which is of great enlightenment to China’s realization of high-quality economic development.On the basis of summarizing previous studies and combining with the status quo of the development of China’s environmental regulation,this study elaborated the development characteristics of China’s manufacturing industry from the perspectives of enterprises’ total factor productivity,enterprises’ Global Value Chain division position and enterprises’ energy utilization efficiency.Using micro enterprise databases such as China Industrial Enterprise database,Enterprise Environmental Survey database of The Ministry of Environmental Protection of China and Customs database,and using measurement methods such as difference-in-difference method（PSM-DID）,differencein-difference-in-difference method（DDD）,fixed effect regression,instrumental variable method,OLS regression,Tobit regression,etc.,this paper empirically tested the impact of environmental regulation on the upgrading of China’s manufacturing industry.This research is divided into seven chapters.The first chapter is the introduction,which mainly introduces the research background,research significance,research ideas and methods,research content,possible innovation points,etc.The second chapter is a literature review,mainly including studies on environmental regulation and manufacturing upgrading,and studies on the relationship between environmental regulation and enterprises’ total factor productivity,enterprises’ Global Value Chain division position and enterprises’ energy utilization efficiency.Chapter three is the characteristic facts of China’s environmental regulations and manufacturing development,mainly from the perspectives of enterprises’ total factor productivity,enterprises’ Global Value Chain division position and enterprises’ energy utilization efficiency,and describes the characteristic facts of manufacturing development before and after the "Eleventh Five-Year Plan",and provide factual basis for the empirical part of the following text.The fourth chapter examines the impact of environmental regulation on the upgrading of manufacturing industry and its influencing mechanism from the perspective of total factor productivity of enterprises,focusing on the heterogeneous impact of environmental regulation at different regulatory levels on the total factor productivity of enterprises,and the dynamic impact of environmental regulation on the total factor productivity of enterprises.Chapter Five examines the impact of environmental regulation on the upgrading of manufacturing industry and its influencing mechanism from the perspective of GVC,focusing on the impact of regional environmental regulation on enterprises’ Global Value Chain division position.The sixth chapter examines the influence of market competition and environmental regulation on the upgrading of manufacturing industry and its influencing mechanism from the perspective of enterprise energy utilization efficiency,as well as the moderating effect of environmental regulation in the relationship between market competition and the upgrading of manufacturing industry.The seventh chapter is the conclusion,policy inspiration and research prospect.Compared with the existing literature,the possible innovation of this study is reflected in the following aspects: The first is the innovation of measuring methods for manufacturing upgrades.This research measures the upgrading of manufacturing enterprises from three aspects: enterprise production efficiency,international competitiveness and green development level.Compared with the comprehensive evaluation index constructed by previous studies on the upgrading of the manufacturing industry,this method effectively avoids the subjective problem of the index weight assignment,and more clearly reveals the heterogeneous characteristics of the manufacturing industry.In addition,compared with the selection of a single indicator used to measure the upgrading of manufacturing enterprises,the calculation indicators in this study are more comprehensive,especially to make up for the existing literature on the measurement of the green development capabilities of enterprises.The second is the innovation of research perspective.In the existing literature on environmental regulation and the total factor productivity of enterprises,the vast majority of them examine the impact of environmental regulation on the total factor productivity of enterprises from a static perspective,neglect the lag effect of policy implementation,and may underestimate the positive impact of environmental regulation.In the literature on environmental regulation and energy efficiency,the important role of market mechanism is often ignored,and market competition is the most basic characteristic of market economy,which has far-reaching influence on the implementation effect of environmental regulation and the performance of enterprise energy efficiency.This study examines the dynamic influence of environmental regulation on the total factor productivity of enterprises from the time trend,and examines the influence of market competition（invisible hand）and environmental regulation（visible hand）on enterprise energy efficiency,which is a useful supplement to the existing research.The third is research method innovation.In examining the impact of environmental regulation on the total factor productivity of enterprises,the first natural experiment of the Comprehensive Work Programme on Energy Conservation and Emission Reduction was used to quantify environmental regulation by focusing on the supervision of enterprises as an experimental group,and the conclusions of the study were more reliable.On the one hand,this study adopts the multi-difference method to avoid the problem of endogeneity bias.On the other hand,environmental policies implemented to microenterprises are more targeted and can accurately estimate the impact of environmental regulation on productivity.The fourth is the innovation of environmental regulation policy considerations.This study divides environmental regulation policy into national supervision,provincial supervision and municipal supervision according to the regulatory level,and for the first time discusses the differences in the impact of environmental regulation on enterprise productivity,which can effectively supplement the existing literature.Further,this study quantified the three dimensions of environmental regulation according to region,industry and region-industry,and examined the impact of three types of environmental regulation on the domestic valueadded rate of enterprises’ exports,enriching the existing research.The fourth is the innovation of environmental regulation policy considerations.This study divides environmental regulation policy into national supervision,provincial supervision and municipal supervision according to the regulatory level,and for the first time discusses the differences in the impact of environmental regulation on enterprise productivity,which can effectively supplement the existing literature.Further,this study quantified the three dimensions of environmental regulation according to region,industry and region-industry,and examined the impact of three types of environmental regulation on the domestic value-added rate of enterprises’ exports,enriching the existing research.The main conclusions of this study are as follows:First of all,the study finds that environmental regulation significantly reduces the total factor productivity of enterprises,and the higher the regulatory level of environmental regulation,the more significant the negative impact on the total factor productivity of enterprises.The impact of environmental regulation on total factor productivity of enterprises presents a dynamic influence of "first negative,then positive" over time,that is,the relationship between environmental regulation and total factor productivity of enterprises presents a "U" shape.The heterogeneity test found that enterprises with weak government correlation（non-state-owned enterprises,low subordinate level,or the lower degree of government intervention in their region）,largescale enterprises or differentiated product enterprises had relatively limited short-term negative impact and significant long-term positive impact.The U-shaped dynamic relationship between environmental regulation and TFP is significant in the eastern region;the short-term negative impact of environmental regulation on TFP is significant in the central region,while the long-term positive impact is insignificant;the long-term and short-term impact of environmental regulation on TFP is not significant in the western region.Compared with non-energy-intensive industries,environmental regulation has a significant U-shaped effect on the total factor productivity of enterprises in energy-intensive industries.Further research has found that environmental regulation affects the total factor productivity of enterprises by affecting the degree of resource constraints and cost-plus channels.Second,regional environmental regulation significantly improves the enterprise export domestic value added rate（DVAR）,the industry environmental regulation significantly reduces the enterprise exports DVAR,the region-industry comprehensive environmental regulation will significantly reduce the enterprise’s export DVAR,the liberalization of intermediate goods trade helps alleviate the restraining effect of environmental regulation on enterprises’ export DVAR.This result is still robust when using different measurement indicators,eliminating the interference of major events in the same period,and aggregating it to the provincial-industry level.Further research shows that the inhibition effect of environmental regulation on DVAR is more significant in state-owned enterprises,large-scale enterprises,enterprises in eastern regions,enterprises in non-polluting industries,and enterprises in the downstream industry of the Global Value Chain.Finally,the impact mechanism test shows that import strengthening and innovation weakening are the two possible ways for environmental regulation to inhibit enterprises’ export of DVAR.Third,market competition has a significant inverted U-shaped nonlinear effect on energy utilization efficiency,environmental regulation has a significant positive effect on energy utilization efficiency of enterprises,and environmental regulation effectively improves energy utilization efficiency of enterprises,especially for export-oriented enterprises.Government subsidies have a significant negative regulating effect on market competition and energy utilization efficiency,but a significant positive regulating effect on environmental regulation and energy utilization efficiency.Moreover,environmental regulation plays a significant negative regulating role in the relationship between market competition and enterprise energy utilization efficiency.Environmental regulation can mitigate the impact of market competition on enterprises’ energy use efficiency to a certain extent.For enterprises with fierce competition,environmental regulation can promote the overall energy utilization efficiency of small enterprises through the end-stage elimination mechanism.For monopolistic enterprises,environmental regulation,as an external government policy,can force large monopolistic enterprises to take energy saving and emission reduction measures,thus promoting the energy utilization efficiency of monopolistic enterprises.The policy implications of this paper are as follows: first,give full play to the positive effects of environmental regulation,such as "elimination mechanism","innovation compensation" and "market incentive",on the technological progress of enterprises;Second,accelerate the tax credit for green R＆D expenses and increase the r＆d subsidy for enterprises to carry out clean production technology innovation,so as to reduce the degree of resource constraint of enterprises’ green production from the source.Third,promote market-oriented reform and diversify the assessment of local officials.In the process of government intervention,we should fully realize the role of market mechanism,only with the role of market mechanism can effectively stimulate the potential of energy conservation.Fourth,continue to push forward intermediates tariff reduction and deepen the reform of the intermediates goods trade liberalization.Enterprises can take advantage of the intermediates of tariff reduction import green,high quality,low cost and diversified products and components,which not only helps to avoid local environmental regulation,also can promote the enterprises’ new product research ability,so as to promote their dynamic transfer from low-value-added processing manufacturing to high-value-added research,and finally realize GVCs’ upgrading of export enterprises. |
PDF Full Text Request