A Study on the Impact of Institutional Arrangement on Carbon Emissions in the Context of"Double Carbon"
Based on an analysis of the mechanisms through which institutional arrangements influence carbon emissions,a parallel multiple mediation model is constructed.This model empirically examines the effects and mechanisms through which institutional arrangements affect carbon emissions via three pathways:The low-carbonization of energy consumption structure,the rationalization and upgrading of industrial structure,and technological advancement,focusing on four aspects:property rights system,openness to the outside world,financial system,and environmental regulation.The results indicate that the property rights system primarily facilitates carbon reduction by promoting the rationalization of industrial structure and advancing technological progress.Openness to the outside world increases carbon emissions,although mediating pathways assist in redirecting it towards carbon reduction;the financial system can directly promote carbon reduction,while the mediating pathways are not significant.Environmental regulation suppresses carbon emissions entirely through the promotion of industrial structure rationalization and technological advancement.Moreover,the effect of institutional arrangements in inhibiting carbon emissions is more pronounced in coastal regions compared to border and inland areas.Therefore,formulating reasonable incentive-compatible institutions under the condition of respecting market principles is of significant importance for promoting low-carbon transformation in enterprises.
institutional arrangementcarbon emissionsparallel multiple intermediation modelspathways of influence
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