Governance of Environmental Rules and Global Green Value Chains
This paper uses the input-output data and the environmental account data of 36 indus-tries in 41 economies,and 346 specific regional environmental rules data,and constructs an ac-counting model of green value chain trade based on embodied carbon in value-added trade by in-ternalizing the environmental cost from the GVC perspective.The impacts of governance of envi-ronmental rules on global green value chains and the mechanisms are comprehensively analyzed.The results show that the deepening of regional environmental rules significantly facilitates the green value-added trade in manufacturing and services,and the effects show strong heterogeneity across different rules and countries.The mechanism analysis shows that the deepening of regional environmental rules mainly promotes the green global value chains through the structural effect,carbon reduction effect,and technological effect,which promotes not only the green upgrading of value-added trade structure but also the reduction of carbon emissions across the whole industry and the international cooperation on green technological innovation.Moreover,along with the im-provement of domestic environmental regulation intensity,green R&D support,government effi-ciency,and regulatory quality,the contribution of regional environmental rules to green value chains will be further enhanced.
global green value chainsgovernance of environmental rulesindustrial green value addedgreen and new quality productive forces