| As China’s economy enters a new normal,the traditional extensive development mode with high energy consumption and high pollution no longer meets the requirements of high quality development.We should rationally use innovative means to form a green and intensive development mode to promote the green transformation of the economy and society.How to make full use of the advantages of resources and environment and improve the green innovation level in various regions without destroying the ecological environment is a big problem our country is facing now.In the future,China will take strong measures to achieve carbon emissions peak and carbon neutrality by 2030 and 2060,respectively.Therefore,it is necessary to accelerate the exploration of efficient and sustainable environmental regulation methods,which can not only effectively achieve emission reduction,but also stimulate regional green innovation.Carbon emission trading is a typical market-oriented approach to environmental regulation.It has been ten years since it was implemented in 2013.Whether there is green innovation effect in carbon emission trading is a significant question which has not been clearly answered so far.This paper analyzes it.First of all,this paper takes the carbon emission trading pilot as a quasi-natural experiment,takes Chinese prefecture-level cities during 2006-2019 as the research object,uses the difference-in-difference model to study the development status of green innovation in pilot and non-pilot cities,and verifies the robustness of the baseline regression results by using alternative variables,PSM-DID and placebo tests.Secondly,the moderating effect model is used to analyze the moderating effect of government environmental governance and marketization level in this process.Thirdly,the heterogeneity of policy implementation in different pilot areas,urban location and urban size is explored.Finally,based on the empirical analysis results,the paper draws research conclusions and puts forward corresponding policy recommendations.The results show that:(1)Carbon emission trading pilot has a significant positive impact on the total number of green patent applications,that is,compared with non-pilot cities,the level of green innovation in pilot cities is significantly improved.(2)The government’s environmental governance and marketization level have a positive moderating effect on the green innovation effect of the carbon emission trading pilot.(3)The impact of carbon emission trading pilot on green innovation has obvious heterogeneity.According to the above conclusions,corresponding policy suggestions are put forward: first,the coverage of carbon market should be continuously improved,pilot areas should be expanded,and on this basis,the institutional framework of carbon tax and carbon emission trading should be gradually constructed.Second,clarify the relationship between the government and the market,promote coordination between the government and the market,and improve the business environment.Third,adhere to local conditions,according to the differences in the development of different regions to match the advantages,to ensure the coordination of regional development,to achieve a win-win situation of environmental protection and green innovative development. |
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