Rational allocation of innovative factors and continuous improvement of the efficiency of carbon emissions are the practical problems that China needs to solve in the process of accelerating the realization of Carbon Peaking and Carbon Neutrality.However,relevant studies have provided a relatively insufficient discussion of their possible spatial effects.From a theoretical perspective,this paper analyzes the impact mechanism of misallocation of innovation factors on carbon emission efficiency from the viewpoints of government,financial markets,and enterprises.It also examines the spatial spillover efficiency of the misallocation of innovation factors on carbon emission efficiency through crowding-out effects,competition effects,and knowledge spillover effects.Methodologically,presenting the factor mismatch in the form of a distortion tax,and measuring carbon emission efficiency from the ultra-efficiency SBM model,the paper constructs a measurement framework for the misallocation of innovation factors and carbon emission efficiency by using the total factor productivity dispersion method and data envelopment analysis(DEA).Based on provincial panel data from 30 Chinese provinces from 2012 to 2021,the spatial Durbin model(SDM)and spatial autocorrelation test methods are employed to empirically examine the impact and spatial spillover effects of the misallocation of innovation factors on carbon emission efficiency.Heterogeneity analysis is conducted across five major regions for the sample areas:eastern,central,northeastern,southwestern,and northwestern China.The results show that the misallocation of innovation factors significantly inhibits the improvement of carbon emission efficiency in the region and adversely affects the carbon emission efficiency of spatially associated regions,presenting a dual negative effect.Due to differences in economic development levels,resource endowments,and institutional environments,the impact of the misallocation of innovation factors on carbon emission efficiency exhibits regional heterogeneity.In the central and southwestern regions,the misallocation of innovation factors has a suppressive effect on local carbon emission efficiency,while the impact is not significant in the eastern,northeastern,and northwestern regions.The misallocation of innovation factors in all five regions has a suppressive effect on the carbon emission efficiency of spatially associated regions.On these grounds,the paper proposes policy recommendations to continuously optimize the market allocation mechanism of innovation factors,effectively encourage the innovation and application of low-carbon technologies by enterprises,and form regional innovation synergies to enhance carbon emission efficiency of China.
misallocation of innovation factormisallocation of resourcesR&D resource allocationcarbon emission efficiencyspatial spillover effectstotal factor productivity dispersion methodlow-carbon technologyregional innovationCarbon Peaking and Carbon Neutr
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