Defining Cities by Water:Addressing Capital Misallocation in a Race to Conserve Resources

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外文摘要：As part of its efforts to promote a sustainable and high-quality development,China has pledged to reduce water consumption and create a water-efficient society.On the basis of identifying the institutional root causes of excessive capital allocation and excessive water consumption in China's water-intensive industrial sectors,this study elaborates how the national water-efficient cities assessment contributes to optimized capital allocation.Our research shows that national water-efficient cities assessment has motivated local governments to compete for water efficiency.To conserve water,local governments regulated the entry and exit of water-intensive enterprises,discouraged excessive investments in water-intensive sectors,and phased out obsolete water-intensive capacities within their jurisdictions.This approach has resulted in mutually beneficial outcomes,including improved allocation of capital,enhanced water efficiency,and reduced emissions.This paper offers policy recommendations for establishing a water-efficient society throughout the 14th Five-Year Plan(2021-2025)period by presenting empirical evidence on the policy effects of resource efficiency evaluation.

外文关键词：

Competitive evaluation for resource efficiencynational water-efficient cities assessmentcapital misallocationwater efficiencyemissions abatement

作者：

Yao Peng、Li Jinze

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作者单位：

School of Economics,Qufu Normal University,Qufu,China

School of Economics,Shandong University,Jinan,China

School of Economics,Ocean University of China,Qingdao,China

基金：

Sponsorship of the Outstanding Youth Innovation Team Development Program for Institutes of Higher Learning in Shandong ProvinceYouth Program of the Natural Science Foundation of Shandong Province

项目编号：

2021RW008ZR2021QG048

出版年：

2024

DOI：

10.19602/j.chinaeconomist.2024.01.06

中国经济学人(英文版)

ISSN：

年,卷(期)：2024.19(1)

参考文献量9