The impact of carbon emissions trading on the transformation of China's low-carbon economy:Based on the intermediary perspective of energy consumption and R&D innovation
Based on the panel data of 30 provinces from 2008 to 2018,and taking the carbon emission trading pilot policy as the natu-ral experiment,the effect of"reducing carbon and increasing performance"was studied by constructing a fixed-effect difference-in-differences model.The study found that the carbon emission trading policy had achieved both environmental benefits and economic benefits,that was,it had played a significant"reducing carbon and increasing performance"effect,and it was still stable after dynam-ic effect tests and placebo tests.Further,the heterogeneity analysis found that the policy effect of carbon emission trading was more ob-vious in the heavy industry area.The mechanism test confirmed that carbon emission trading mainly achieved"reducing carbon"by ad-justing the energy consumption structure,and"increasing performance"by promoting R&D innovation,to promote the transformation of China's low-carbon economy.The research conclusions further enriched the research on the effect of carbon emission trading poli-cies,and had practical significance for the transformation of China's low-carbon economy and the realization of the"dual carbon"goal.
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