The effect of pollution control and carbon reduction of the carbon emission trading system:An empirical analysis based on the Synthetic Control Method
Under the requirement of collaborative governance of the ecological environment and climate change,the carbon emission trading system(CETS),as a typical market-based environmental regulation tool,has attracted much attention for its role in pollution control and carbon reduction.Based on the panel data of 30 provincial-level regions(hereafter province)in China from 2000 to 2020,this paper applies the Synthetic Control Method to evaluate the effect of CETS in pollution control and carbon reduction in pilot provinces.The paper also applies the DID model to test the paths of CETS in promoting pollution control and carbon reduction.The findings are:In general,the effect of CETS in pilot provinces is more significant in pollution control and carbon reduction.In terms of individual policy,the effect on pollution control and carbon reduction in Beijing,Shanghai and Guangdong is most significant,followed by other provinces and cities.The study of the function mechanisms has shown that CETS is likely to realize pollution control and carbon reduction by promoting industrial structure upgrading,energy structure optimization,green technology innovation and energy use efficiency improvement.The analysis of regional heterogeneity has shown that the effect of CETS on pollution control and carbon reduction in the eastern region is more significant.The heterogeneity analysis of different types of air pollutants has indicated that CETS is more effective in terms of PM2.5 emission reduction.
carbon emission trading systempollution control and carbon emission reductionSynthetic Control MethodDifference-in-Difference model
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