Green Fiscal Policy and Green Economic Efficiency:A Quasi-Natural Experiment Based on the Comprehensive Energy Saving and Emission Reduction Demonstration Cities Policy
Accurately assessing the impact of green fiscal policy on city green economic efficiency(Gee)is significant for achieving a"win-win"situation between economic development and environmental protection and for implementing a green and low-carbon path.This paper takes the comprehensive demonstration cities of fiscal policies for energy saving and emission reduction(ESER)as a quasi-natural experiment.Based on sample data from 281 cities from 2006 to 2021,the study employs the non-radial directional distance function to measure Gee and uses staggered difference-in-differences models with heterogeneous dynamic effects to empirically examine the impact of ESER on urban Gee.The research findings indicate that ESER significantly improves Gee,the conclusion that holds even after a series of robustness tests,including the endogeneity test,anticipated effect test,and placebo test.Heterogeneity analysis reveals the policy effect is more significant in non-old industrial bases and large and medium-sized cities.Mechanism analysis suggests that ESER enhances Gee through increased environmental awareness,upgrading industrial structure,and promoting green innovation effects.Additionally,ESER exhibits significant spatial spillover effects and can enhance micro-enterprise Gee.The conclusions provide policy insights for fully realizing the policy effects of green fiscal policies and advancing the modernization of national governance in the new era.
Green Fiscal PolicyEnergy Saving and Emission ReductionGreen Eco-nomic EfficiencyHeterogeneous Staggered Difference-in-differences Models
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