| On the road of reform and opening up over the past 40 years,our people have struggled hard,become the second big country in the world with rich people and strong country,and contributed significantly to the economic growth of the world.As the first manufacturing country,China is also one of the countries with the largest amount of greenhouse gas emissions,which has brought more serious environmental and ecological problems,such problems have affected the sustainable development of our country.Therefore,in order to realize the two-way development of economy and ecology,China began to put forward the goal of emission reduction,and introduced a series of environmental regulation policies,including the pilot policy of carbon trading.Green total factor productivity considers the relationship between energy and ecological environment,which is an important index to pursue the common development of environment and economy.On this basis,this paper studies the impact of carbon trading policy on green total factor productivity and its influence mechanism,provides theoretical support and policy suggestions for promoting the development of Chinese carbon trading policy based on empirical results.This paper reviews relevant literatures at home and abroad on emission reduction effect and economic effect of carbon emission trading policy,green total factor productivity,and influence of carbon emission trading policy on green total factor productivity.The SBM super efficiency ML index was used to measure the green total factor productivity and its decomposition items in 30 provinces and cities,and the analysis was carried out from the two dimensions of time trend and space trend.The carbon emission trading pilot policy was fully carried out in 2014.With this as the demarcation point of time dummy variables,six pilot regions were taken as experimental groups and other regions as control groups.The differential difference model was used to study the impact mechanism of carbon emission trading policy on green total factor productivity from the perspectives of industrial structure effect and technological innovation effect.The results show that during 2004-2019,the overall trend of GTFP increased.In terms of time dimension,GTFP fluctuated greatly in China,with the average growth rate of ML index,decomposed TC index and decomposed EC index being 5.90%,5.83% and 0.27%during 2004-2019.In terms of spatial dimension,the ML index in the eastern,central and western regions was higher than 1,and the average growth rate of GTFP in the three regions was 6.6%,5.0% and 6.1%,respectively.The average growth rate of GTFP in the eastern region was the highest and ranked the first among the three regions.The average growth rate of GTFP in central and western regions was lower than the national average.On this basis,a DID model with dual fixed effects of time and individuals was constructed to study the effect of carbon trading policy on GTFP.Two testing methods were used to test the robustness of the research results and the validity of DID model.The results show that the carbon emission trading policy has a significant positive effect on GTFP,and the results are robust and effective,in line with the stationary trend test and the robustness test.Finally,industrial structure(str)and technological innovation(rcg)were used as the intermediate variables to construct the regression model of the intermediate effect test and explore the influence mechanism of the carbon emission trading policy.It is found that the carbon emission trading policy can promote the growth of GTFP by adjusting str and increasing rcg. |
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