Research On The "Double Dividend" Effect Of Environmental Regulation

Since the reform and opening up,China’s economy has experienced rapid growth for more than 40 years,and has achieved world-renowned achievements in many fields.However,with the rapid economic development,it also brings a series of environmental pollution problems.Environmental regulation is an important means of motivating enterprises to reduce pollution,and it also shoulders the important task of promoting highquality economic development.In view of this,it is of great practical significance to study the "double dividend" effect of environmental regulation.This paper firstly analyzes the "double dividend" effect theory of environmental regulation,and then reveals the development history of China’s environmental regulation and the development status of different types of environmental regulation.The "double dividend" effect of environmental regulation and its impact mechanism are systematically evaluated.Further,a spatial Durbin model is constructed to explore the spatial spillover effect of the "double dividend" of environmental regulation.Considering that the "double dividend" effect of different types of environmental regulation may be different,this paper empirically tests the "double dividend" effect of heterogeneous environmental regulation.Finally,this paper puts forward targeted policy suggestions for further improving environmental regulation policies and promoting high-quality economic development.The research conclusions of this paper include:(1)There is a "double dividend" effect in the implementation of China’s environmental regulation;and environmental regulation and economic growth show an inverted "U"-shaped trend that promotes first and then inhibits.(2)Industrial structure upgrading and innovation ability are important ways for environmental regulation to play an inhibitory role in industrial pollution discharge,but it fails to play a significant role in promoting the "blue dividend" of environmental regulation;foreign investment can enhance the role of environmental regulation in promoting economic growth,but has no obvious effect on the "green dividend" of environmental regulation.(3)Considering the spatial spillover effect of environmental regulation,the“green dividend” of environmental regulation has a negative spatial spillover effect,and the “blue dividend” of environmental regulation has a positive spatial spillover effect.(4)There are differences in the "double dividends" of different types of environmental regulations.The command-and-control environmental regulation has a "double dividend"effect,and it is in an inverted "U" shape with economic growth;the market-incentivized environmental regulation does not show a "double dividend" effect.At this stage,China’s market-incentivized environmental regulation cannot effectively reduce environmental pollution,but the relationship with economic growth is "U"-shaped;public participation in environmental regulation does not have "green dividend" but can promote economic growth,has a "blue dividend" effect,and has an inverted "U"-shaped trend with economic growth.Finally,based on theoretical and empirical analysis,the following policy recommendations are put forward:(1)reasonably formulate the intensity of environmental regulation,in order to achieve the "blue effect" of promoting economic growth while suppressing environmental pollution;(2)increase environmental supervision and constraints on local governments to promote Neighboring local governments reach a consensus on environmental pollution control goals and coordinate environmental pollution control;(3)rationally formulate government environmental protection goals,revise and improve environmental protection laws and regulations,and give play to the role of command and participatory environmental regulation in pollution control;(4)further improve the"environmental protection tax" system,and gradually improve the environmental protection tax collection standards in stages,and at the same time strengthen supervision,to avoid the phenomenon of government-business collusion and insufficient enforcement rigidity;double dividend" effect.(5)establish and improve public participation-based environmental regulation,and broaden the channels for public supervision and feedback,in order to give full play to the "double dividend" effect of public-participation-based environmental regulation.