| Environmental efficiency is one of the criteria for measuring sustainable development.It is used to measure the environmental impact of an enterprise,industry or region in creating unit value.Since the industrial revolution,global warming has been exacerbated by the burning of fossil fuels and the greenhouse gases produced by industrial production.In order to reduce carbon emissions and improve environmental quality,in October 2011,the National Development and Reform Commission issued the “Notice on Pilot Work on Carbon Emissions Trading” and approved the pilot work on carbon emissions trading.Based on this background,this study analyzes the policy effect and impact mechanism of carbon emission trading pilot policy on environmental efficiency,so as to provide suggestions for building a carbon emission trading market and improve environmental quality.This study analyzes the impact of carbon emission trading policy on environmental efficiency and its mechanism from two aspects: theoretical analysis and empirical analysis.Firstly,through reviewing relevant literature,it is found that existing researches on the effects of carbon emission trading policy mainly focus on single dimensional environmental factors such as carbon dioxide or carbon emission intensity,and there are few researches on the environmental efficiency that comprehensively reflects environmental protection.Therefore,from a new perspective,this study adopts data envelopment analysis method to effectively measure the environmental efficiency level on the basis of constructing the input-output index system,and then analyzes the impact of carbon emission trading policy on environmental efficiency.Secondly,by introducing the meanings of carbon emission trading and environmental efficiency and analyzing the theoretical mechanism of carbon emission trading policy affecting environmental efficiency,it is found that carbon emission trading policy satisfy Porter hypothesis and will improve environmental efficiency through direct and indirect impacts.Thirdly,the Slack Based Measure(SBM)model of super-efficiency based on Malmquist-Luenberger index is used to measure the level of China’s environmental efficiency,and the spatial-temporal difference of China’s environmental efficiency is analyzed based on the coefficient of variation method.It is found that there are some differences in the level of regional environmental efficiency in China.The level of environmental efficiency in the eastern region is the best,followed by the western region and the central region.During the study period,the development trend of environmental efficiency in China is similar to that in the eastern and western regions,showing a “W” development trend.However,the central region shows the “U” development trend,which first declines and then rises.In recent years,the difference of regional environmental efficiency has been increasing year by year.Technical efficiency and technological progress play different roles in promoting regional environmental efficiency.Fourthly,to avoid the problems of missing variables and endogenous interference of reverse causality,this study builds a difference in difference(DID)model with time and individual double fixed and analyzes the impact of carbon emissions trading policy on the efficiency of the environmental effect.This study conducts robustness tests through a placebo test and eliminating other policy interference.It is found that the carbon emission trading policy can significantly improve China’s environmental efficiency.With time going by,there is a cumulative effect.And the research conclusion is effective,which is consistent with the theoretical hypothesis.Fifthly,the study constructs a mediation effect test model and analyzes the influence mechanism of carbon emission trading policy with the industrial structure and scientific and technological innovation as mediating variables.It is found that the carbon emission trading policy can improve the environmental efficiency by adjusting the industrial structure and improving the level of scientific and technological innovation.At last,suggestions are put forward according to the research conclusion.Firstly,we should strengthen regional cooperation and promote the integrated development of eastern,central and western regions in China.Secondly,it is necessary to speed up the pace of technological innovation,improve technological efficiency,and improve environmental efficiency according to local conditions.Thirdly,it is of great significance to develop clean energy and to improve the industrial structure actively and constantly.Fourthly,it is important to strengthen the top-level design and optimize the carbon emissions trading market.Fifthly,the legal system that is compatible with the carbon emission trading market should be constructed. |
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