The Impact of Emission Trading Scheme on Green Total Factor Productivity:A Perspective on Technological Progress and Technical Efficiency
Based on panel data from 30 provincial administrative regions in China between 2006 and 2020,and utilizing the 2013 car-bon trading pilot policy as a quasi-natural experiment,this study employs the Difference-in-Differences method to investigate the policy effects and mechanisms of carbon trading policies on green total factor productivity(GTFP)and its decomposition terms.The research findings indicate that carbon trading policies can significantly enhance GTFP in pilot provinces,primarily attributed to technological progress within the internal structure of GTFP.This conclusion remains valid across a series of robustness tests.Heterogeneity analysis reveals that carbon trading policies have no significant impact on GTFP in industrial base provinces but exert a notable positive effect on GTFP in non-industrial base provinces,with technological progress being the source of growth.Regardless of the intensity of environ-mental regulation,carbon trading policies have a significant positive impact on GTFP,and the contribution of technical efficiency to GTFP increases as regulatory intensity strengthens.Mechanism analysis demonstrates that energy structure,industrial structure,and foreign direct investment all serve as effective channels through which carbon trading policies influence GTFP.The transmission effects of energy structure and industrial structure are primarily achieved through technological progress,while foreign direct investment prima-rily enhances GTFP in pilot regions through non-technological means.
carbon emission trading schemegreen total factor productivitydifference-in-differencesforeign direct investment
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