Under the dual pressures of stable growth and carbon reduction,identifying the impact of energy-consu-ming right trading system on urban low-carbon transformation and development has important theoretical and practical signifi-cance.Based on panel data from 282 prefecture level and above cities in China from 2006 to 2021,and using the super efficien-cy SBM model to measure carbon emission efficiency,this study uses a double difference model to examine the impact,intrinsic mechanism,and heterogeneity of the energy-consuming right trading system on carbon emission efficiency,and explores its spatial spillover effects,policy synergy effects,and environmen-tal dividends.The results show that from 2006 to 2021,the o-verall carbon emission efficiency of cities in China showed a fluctuating upward trend.The energy-consuming right trading system can significantly improve carbon emission efficiency,and this conclusion has passed a series of robustness tests.The inter-nal mechanism test shows that the energy-consuming right trading system can improve carbon emission efficiency through green technology innovation and industrial structure upgrading.Heterogeneity analysis shows that the carbon emission efficiency improvement effect of the energy-consuming right trading sys-tem is more pronounced in eastern,large-scale,and resource-based cities.Further research has found that the energy-consuming right trading system has a significant spatial positive spillover effect,and the dual pilot program with carbon regulato-ry policies can significantly improve carbon emission efficiency.In addition,this policy can also play a synergistic role in reduc-ing pollution and carbon emissions.The research conclusion can provide certain policy insights for the steady promotion of the en-ergy-consuming right trading system and the low-carbon transformation and development of cities.
Energy-consuming Right Trading Sys-temlow-carbon transformationcarbon emission efficiencyspatial spilloversynergy effect
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