The Effect Of Environmental Regulation Policy On The Efficiency Of Green Economy

After the industrial revolution,China’s economic aggregate has achieved leapfrog growth.However,the cost of the rapid economic growth is environmental degradation and resource depletion.The ecological and environmental problems closely related to human beings have become an important constraint in the green development of China’s economy.Because environment is a typical public goods,it is difficult to achieve effective regulation only by market mechanism,so it is necessary for the government to establish a series of rules to solve this problem.The system of sewage charge brings certain limits to the enterprises that discharge pollutants to the environment.It can link the environmental responsibility and economic interests of the enterprises and supervise them to strengthen production management and improve production technology,as the main economic means of national management of environmental pollution,it can effectively solve the "externality" problem.On May 23,2007,the State Council issued the Notice on Comprehensive Work Plan for Energy Conservation and Emission Reduction.From the perspective of environmental regulation policy,this paper aims to study the impact of environmental regulation policy on green economy efficiency.It has important theoretical research value and practical significance for countries to strengthen environmental governance,take into account both environmental and economic interests and promote the improvement of green economy efficiency.This paper takes the panel data of the other 30 provinces of China from 2004 to 2012 after eliminating Hong Kong,Macao,Taiwan and Tibet as the research sample,this paper studies the relationship between environmental regulation policy and efficiency of green economy.Firstly,based on the "Compliance Cost Theory" and"Innovation Compensation Theory",this paper analyzes the mechanism of how environmental regulation policy affect the efficiency of green economy.Secondly,the DEA-SBM model is used to calculate the value of China’s green economic efficiency,and based on the results,the development of green economic efficiency is analyzed from two aspects of change trend and spatial distribution.Thirdly,the policy impact of the gradual increase of pollutant charging standards since 2007 is regarded as a quasi-natural experiment,and the multi-phase difference-in-difference model is used to analyze the relationship between environmental regulation policy and efficiency of green economy from an empirical perspective.Then,this paper tests the mediating effect of the transmission mechanism of technological innovation.The moderating effect is tested from the perspective of the intensity of collection and management,and the heterogeneity is analyzed from three aspects:region,marketization level and industrial structure.Finally,according to the analysis,feasible policy suggestions are put forward.Through the analysis,the conclusions are finally proposal:Firstly,from a vertical perspective,the efficiency of green economy in China’s provinces shows a steady upward trend,and the national average of green economic efficiency from 2004 to 2012 is 0.427;horizontally,the average value of green economic efficiency of each region from high to low is the eastern region,the western region,the northeast region and the central region,among which the average value of green economic efficiency of the first two regions are higher than the national average level,while the average value of green economic efficiency of the last two regions are lower than the national average level.Secondly,using the multi-phase difference-in-difference model,it is found that environmental regulation policy has a significant effect on improving the efficiency of green economy.Thirdly,through the mediating effect test,the existence of technological innovation mechanism is illustrated,and environmental regulation policy can promote technological innovation and then have a positive impact on the efficiency of green economy,and the "Porter Effect" is verified in China.Fourthly,through the moderating effect test,it shows that the intensity of collection and management can positively regulate the positive impact of environmental regulation policy on green economic efficiency.Fifthly,from the perspective of heterogeneity analysis,the effect of the policy of raising pollutant charge standards on improving the efficiency of green economy is more significant in the eastern region,regions with high marketization level and high output value of the tertiary industry.Based on the research conclusions,this paper puts forward the following five suggestions to improve the efficiency of green economy by using environmental regulation policy:Firstly,change the mode of production and improve the quality of development;Secondly,coordinate regional development and narrow regional gaps;Thirdly,encourage technological innovation and improve green efficiency;Fourthly,promote industrial upgrading and achieve green development;Fifthly,standardize environmental taxes and fees and complete the system optimization.