Resource Allocation Effect Of Energy Conservation And Emission Reduction Policies

Innovation development and green development are two major themes in the transformation of Chinese industry from high-speed growth to high-quality development.On the one hand,the transformation from factor driven to innovation driven is the fundamental way for China's industry to achieve high-quality development.Under the condition of the disappearance of population dividend and the decrease of capital return,high quality development must be achieved through the improvement of TFP.On the other hand,the green development of industry is the inevitable requirement of China's high-quality economic development.Energy conservation and emission reduction policy is an important policy tool to achieve green development,which has been widely concerned by the academic community.This paper focuses on the impact of energy conservation and emission reduction policies on the obvious and potential TFP changes,which has certain theoretical and practical significance.The research ideas are as follows: firstly,the literature of mismatch theory and distortion theory is combed,which helps to deepen the understanding of the apparent and potential productivity in this paper;secondly,the particularity of energy itself and the impact mechanism of energy industry impacted by energy conservation and emission reduction policies are combed and analyzed in turn.Thirdly,in the empirical study,using the data of China's industrial enterprise database from 2000 to 2007,using the mathematical model established by HK model(2009)framework to measure the TFP revenue and change trend of energy industry year by year.On this basis,taking the individual variables measuring the apparent and potential productivity in the model as the dependent variables,this paper uses the method of Difference-in-Differences(DID)to test the policy effect of the clean production standard issued for the petroleum refining industry and coking industry in 2003,and conducts a series of robustness tests(PSM,placebo,etc.)based on the benchmark regression,and then carries out a series of differences Qualitative analysis(by scale,ownership,etc.).Theoretical research shows that: first,the path of the impact of energy conservation and emission reduction policies on TFP in the energy industry is that the energy conservation and emission reduction policies first affect the resource allocation of the energy industry,and then affect TFP;second,the evaluation of policy effects should not only consider the changes of TFP in the enterprises affected by the policies,but also examine the changes of TFP after the enterprises rectify the distortion;third,verify the policies The impact of policy on TFP must be innovated in the existing research.Innovation can be started from two aspects: one is the innovation of policy evaluation on the medium and macro models,the other is the innovation of indicators,which is also one of the innovations of this paper.The empirical research shows that: first,the implementation of cleaner production standards in 2003 has improved the obvious and potential TFP of petroleum refining and coking industry,and the potential TFP is more impacted by the policy compared with the obvious TFP;second,in terms of scale,cleaner production standards have significantly and potentially improved the TFP of all scale energy enterprises,and compared with the medium-sized enterprises,the scale Third,compared with non-stateowned enterprises,state-owned enterprises are not significantly impacted by the regulation of cleaner production standards.The policy recommendations are as follows: first,when formulating energy conservation and emission reduction policies,we should consider the real and potential impacts that the policies may have at the same time,so as to avoid the promotion of policies that have a positive effect on the real productivity and a negative effect on the potential productivity.Once the disadvantages of such policies appear in the long run,the difficulties of industrial structure transformation brought by "path dependence" will be difficult And so on.The government should carefully identify such policies to avoid these problems;secondly,the government should be more active in formulating and issuing cleaner production standards for other sub industries under the energy industry,and improving the resource allocation of the energy industry;thirdly,when formulating energy conservation and emission reduction policies,the government should pay attention to the characteristics and differences in time and space,and should not ignore the actual conditions Under the circumstances,it is considered to be a successful energy conservation and emission reduction policy to apply the usual formulation.