Environmental Regulation and Regional Innovation Efficiency：Quasi-natural Experimental Evidence based on Carbon Emission Trading Pilot

Abstract

Abstract: This paper took the “Notice on Piloting Carbon Emissions Trading” issued by the National Development and Reform Commission in 2011 as a quasi-natural experiment. Based on the method of instrumental variables, the paper more scientifically verified the relationship between environmental regulation and regional innovation efficiency. Research found that there is a U-shaped nonlinear relationship between environmental regulation and substantive innovation efficiency, environmental regulation and strategic innovation efficiency. And about 88.79% and 90.61% of the observation points are in the stage of environmental regulation will inhibit the regional innovation efficiency.The results of the heterogeneity analysis show that the threshold of environmental regulation intensity in the developed eastern regions is relatively high. Improving the level of human capital, improving the degree of openness, enhancing financing capacity, and strengthening government intervention can alleviate the negative impact of environmental regulation. The analysis of the mechanism of action found that the intensity of innovation investment, optimization of capital factor allocation, and technological progress are the main ways for environmental regulation to influence innovation efficiency in regions. In addition, environmental regulation not only has the effect of first suppressing and promoting the local substantive innovation efficiency, but also has the synergistic effect of promoting and suppressing the substantial innovation efficiency of neighboring provinces,reflecting the influence of regional environmental regulation intensity difference.

Key words: environmental regulation, substantial innovation efficiency, strategic innovation efficiency, difference in differences

YANG Lu-xin1,2,LIU Yu-cheng3,4. Environmental Regulation and Regional Innovation Efficiency：Quasi-natural Experimental Evidence based on Carbon Emission Trading Pilot[J]. 商业研究.

References

［1］Hahn R. W., R. L. Axtell.Reevaluating the Relationship Between Transferable Property Rights and Command-and-Control Regulation［J］．Journal of Regulator Economics,1995,8(2): 125-148. ［2］谭飞燕,刘辉煌. 国际碳交易机制下中国低碳投资风险探讨［J］．浙江工商大学学报，2011（2）：45-50. ［3］Pizer, W. A., Popp, D.Endogenizing technological change: Matching empirical evidence to modeling needs［J］．Energy Economics,2008,30(6): 2754-2770. ［4］Jaffe, A. B., Palmer, K. Environmental regulation and innovation: a panel data study［J］． The Review of Economics and Statistics,1997,79(4): 610-619. ［5］Rogge, K. S.,Schleich, J., Haussmann, P., et al. The role of the regulatory framework for innovation activities: The EU ETS and the German paper industry［J］． International Journal of Technology, Policy and Management,2011,11(3-4): 250-273. ［6］张中元,赵国庆. FDI、环境规制与技术进步-基于中国省级数据的实证分析［J］．数量经济技术经济研究,2012(4). ［7］赵红.环境规制对中国产业技术创新的影响［J］．经济管理,2007(21). ［8］Schleich, J., Betz, R. Incentives for energy efficiency and innovation in the European emission trading system. Proceedings of the 2005 ECEEE summer study: What works and who delivers, 2005:1495-1506. ［9］张成,陆旸,郭路,等.环境规制强度和生产技术进步［J］．经济研究,2011(2). ［10］王国印,王动. 波特假说、环境规制与企业技术创新-对中东部地区的比较分析［J］．中国软科学,2011(1). ［11］曾义,冯展斌,张茜.地理位置、环境规制与企业创新转型［J］．财经研究,2016(9). ［12］余东华,胡亚男. 环境规制趋紧阻碍中国制造业创新能力提升吗？——基于“波特假说”的再检验［J］．产业经济研究,2016(2). ［13］李勃昕,韩先锋,宋文飞. 环境规制是否影响了中国工业R&D创新效率［J］．科学学研究,2013(7). ［14］Calel, R., Dechezlepretre, A. 2016. “Environmental policy and directed technological change: Evidence from the European carbon market.” Review of Economics and Statistics, 98(1): 173-191. ［15］韩超,张伟广,冯展斌. 环境规制如何“去”资源错配——基于中国首次约束性污染控制的分析［J］．中国工业经济，2017(4). ［16］杜威剑,李梦洁.环境规制对企业产品创新的非线性影响［J］．科学学研究,2016(3). ［17］戴魁早,刘友金. 要素市场扭曲如何影响创新绩效［J］．世界经济,2016(11). ［18］Lu,Y., Tao,Z. Zhu,L. Identifying FDI Spillovers［J］．Journal of International Economics,2017,107: 75-90. ［19］黎文靖,郑曼妮. 实质性创新还是策略性创新？-宏观产业政策对微观企业创新的影响［J］．经济研究,2016(4). ［20］沈能,刘凤朝.高强度的环境规制真能促进技术创新吗?——基于“波特假说”的再检验［J］．中国软科学,2012(4). ［21］杜立民. 我国二氧化碳排放的影响因素：基于省级面板数据的研究［J］．南方经济,2010(11). ［22］范剑勇,石灵云. 产业外部性、企业竞争环境与劳动生产率［J］．管理世界,2009(8). ［23］Imbens G W. The Role of the Propensity Score in Estimating Dose-Response Functions［J］．Biometrika,2000,87(3):706-710. ［24］Hirano K,Imbens G W. The Propensity Score with Continuous Treatments. Applied Bayesian Modeling and Causal Inference from Incomplete Data Perspectives,2004:73-84. ［25］Wagner J. Unobserved Firm Heterogeneity and the Size-Exports Nexus: Evidence from German Panel Data［J］．Review of World Economics,2003,139(1): 161-172. ［26］Papke L E, Wooldridge J M. Econometric Methods for Fractional Response Variables withan Application to 401(K) Plan Participation Rates［J］．Journal of Applied Econometrics, 1996,11(6): 619-632. ［27］Gourieroux C, Monfort A, Trognon A. Pseudo Maximum Likelihood Methods: Theory［J］．Econometrica,1984,52(3): 681-700. ［28］白俊红,卞元超.要素市场扭曲与中国创新生产的效率损失［J］．中国工业经济,2016(11). ［29］沈坤荣,金刚,方娴. 环境规制引起了污染就近转移吗？［J］．经济研究,2017(5). ［30］Wu, H., H. Guo, B. Zhang, M. Bu. Westward Movement of New Polluting Firms in China: Pollution Reduction Mandates and Location Choice［J］．Journal of Comparative Economics,.2017,45(1): 19-138. ［31］List, J. A., W. W. Mc Hone, and D. L.Millimet. Effects of Air Quality Regulation on the Destination Choice of Relocating Plants［J］．Oxford Economic Papers, 2003,55(4): 657-678. ［32］黄策,王雯,刘蓉.中国地区间跨界污染治理的两阶段多边补偿机制研究［J］．中国人口资源与环境,2017(3).

[1]	HE Xing-bang. Heterogeneous Environmental Regulation and the Quality of China′s Economic Growth: Which is Better, Administrative Order or Market Instruments? [J]. 商业研究, 2020, 62(9): 82-91.
[2]	LI Rui-qian1, ZHANG Jin-song2. The Heterogeneous Impact of Different Types of Environmental Regulations on Local Environmental Governance [J]. 商业研究, 2020, 62(7): 36-45.
[3]	LIU Shuai1,LIU Feng-yan2，WANG Yi-peng3. Economic Growth Target,Heterogeneous Environmental Regulation and Capacity Utilization [J]. 商业研究, 2020, 62(2): 21-33.
[4]	WANG Ke-qiang,LI Guo-xiang. On Environment-Economy Effects of Environmental Regulation [J]. 商业研究, 2020, 62(2): 34-43.
[5]	SONG Dian1, SONG Pei2, CHEN Zhe2.. The Technological Path Choice of China′s Industrial Green Transformation under Environmental Regulation: Independent Innovation or Technology Outsourcing? [J]. 商业研究, 2020, 62(2): 101-110.
[6]	DONG Hui-zhong, HAN Yuan-gang. How to Improve Industrial Eco-efficiency under the Open and Green Development Concept? Based on the Verification of the “Pollution Paradise” Hypothesis [J]. Commercial Research, 2020, 62(12): 75-84.
[7]	HAN Meng-meng1,YAN Dong-sheng2. Can Environmental Regulation Enhance the Division Status in Global Value Chain ? Empirical Evidence from Manufacturing Industry of China [J]. 商业研究, 2020, 62(10): 33-41.
[8]	ZHANG Qian-qian, ZHANG Rui, ZHANG Yi-bing. The Influence Mechanism of Foreign Direct Investment on Environmental Quality under Environmental Regulation: A Comparative Study based on Different Industry Groups [J]. 商业研究, 2019, 61(5): 61-68.
[9]	LI Shan-shan, LUO Liang-wen . The Nonlinear Effects of Environmental Regulation on Regional Carbon Productivity under Local Government Competition：Based on the View of Threshold Characteristic and Spatial Spillover [J]. 商业研究, 2019, 61(1): 88-97.
[10]	LIU Zhang-sheng1, SONG De-yong2, LIU Gui-hai1,3. The Threshold Effect of Environmental Regulation on Green Technology Innovation Ability of Manufacturing Industry [J]. 商业研究, 2018, 60(4): 111-119.
[11]	HE Yu-mei, LUO Qiao, ZHU Xiao-wei. Environmental Regulation, Ecological Innovation and Enterprise Competitiveness: An Analysis based on Data of Mineral Resources Enterprises [J]. 商业研究, 2018, 60(3): 132-137.
[12]	XU Li-ping, LIU Ming-qian, LIU Ning. Which Corporate Environmental Crime Behavior Can be Effectively Curbed by Environmental Regulation? Evidence from Chinese Listed Firms in 2011-2015 [J]. 商业研究, 2018, 60(10): 138-146.
[13]	CHEN Yu-ke. Retesting of “Strong Potter Hypothesis” under Fiscal Decentralization: From the Perspectives of Enterprise Environmental Protection Innovation and Non-environmental Protection Innovation [J]. 商业研究, 2018, 60(1): 143-152.
[14]	CHEN Hong, GUAN Bo, SUN Wen-jiao . Research on Agricultural Production Efficiency under Different Environmental Regulations in Major Grain Producing Areas in China [J]. 商业研究, 2017, 59(3): 167-174.
[15]	JIN Ji-yao1,2,DU Jian-guo1,3,JIN Shuai1. Evolutionary Game Analysis and Motivation Strategies Research of FDI Enterprises Environmental Innovation Behavior [J]. 商业研究, 2017, 59(11): 117-126.