Carbon Emission Trading Policy And The Rising Position Of Manufacturing Enterprises In The Global Value Chain

With the continuous improvement of China ’s economic aggregate,environmental problems have become increasingly prominent,and the construction of ecological civilization has been placed in a more prominent position.As a market-based environmental regulation policy,carbon emission trading policy is regarded as an important means to achieve carbon peaking and carbon neutrality goals.The policy officially began pilot trading in 2013,and the national carbon trading market was officially launched in 2021.It is foreseeable that the carbon emission trading policy will play a more important role in China ’s future low-carbon process.The implementation of the policy will obviously affect the business decisions of manufacturing enterprises,so will the implementation of the carbon emission trading policy help to promote the global value chain status of manufacturing enterprises ? In view of this,this paper combines the matching data of Chinese industrial enterprises and customs import and export data from 2007 to 2015,constructs a quasi-natural experiment with the pilot carbon emission trading policy,and studies the impact of the carbon emission trading policy on the status of manufacturing enterprises in the global value chain.Firstly,this paper summarizes and sorts out the literature from the two directions of carbon emission trading policy related research and global value chain related research.On this basis,it expounds that the carbon emission trading policy will affect the global value chain status of manufacturing enterprises through two ways : innovation compensation effect and product conversion effect.Secondly,it matches the data of Chinese industrial enterprises and customs import and export data from 2007 to 2015,calculates the global value chain status of Chinese manufacturing enterprises,and analyzes the implementation of carbon emission trading policies and the status of global value chain of enterprises at different levels.Finally,a difference-in-differences model is constructed to empirically study the impact of carbon emission trading policies on the rising status of manufacturing enterprises in the global value chain,and the impact mechanism is tested.At the same time,heterogeneity analysis is carried out from the perspectives of enterprise ownership,enterprise pollution emission intensity and enterprise scale.The results show that : First,the carbon emission trading policy has a significant positive effect on the global value chain status of manufacturing enterprises,and the results have passed a series of robustness tests.Second,carbon emission trading policies can promote the upgrading of enterprises ’ global value chain status through innovation compensation effect and product conversion effect.Thirdly,from the results of heterogeneity analysis,the carbon emission trading policy has different effects on the upgrading of global value chain status of different ownership enterprises,different pollution levels and different scale enterprises.The above research has reference significance for promoting the rise of global value chain status of Chinese manufacturing enterprises and the smooth realization of the carbon peaking and carbon neutrality goals.