文献类型：期刊文献

英文题名：How do energy-saving policies improve environmental quality: Evidence from China's Top 10,000 energy-consuming enterprises program

作者：Shao, Shuai[1];Xu, Le[2];Yang, Lili[3];Yu, Dianfan[4]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[2]Shanghai Univ Finance & Econ, Inst Free Trade Zone, Shanghai 200433, Peoples R China;[3]Shanghai Lixin Univ Accounting & Finance, Sch Int Econ & Trade, Shanghai 201209, Peoples R China;[4]Shanghai Univ Finance & Econ, Coll Business, Shanghai 200433, Peoples R China

年份：2024

卷号：175

外文期刊名：WORLD DEVELOPMENT

收录：;WOS:【SSCI(收录号:WOS:001119275500001)】；

基金：We acknowledge the financial support from the National Natural Science Foundation of China (Nos. 72243004, 72203140, and 72074150) , the National Social Science Foundation of China (No. 21ZDA084) , the Humanities and Social Science Research of the Ministry of Education Youth Foundation Project (No. 22YJCZH201) , and Shanghai "Science and Technology Innovation Action Plan" Soft Science Research Program (No. 23692108300) .

语种：英文

外文关键词：Energy-saving policy; Environmental quality; prises program; Green innovation; Energy intensity; Environmental compliance

摘要：Treating China's Top 10,000 Energy-Consuming Enterprises Program (T10000P) as a quasi-natural experiment, this is the first study to investigate the synergistic effects of the representative energy-saving policy on environmental quality at the micro-level. We create a panel data set by matching China's Environmental Statistics Database, Industrial Enterprise Database, and State Intellectual Property Office Database, and employ the difference-in-differences model to identify the policy's environmental effects and their mechanisms. The results show that the T10000P can effectively lower chemical oxygen demand (COD) and sulfur dioxide (SO2) emissions, which still hold after a series of robustness checks, indicating that the policy has a significant synergistic effect on environmental quality improvement. Furthermore, compared with small polluters, the T10000P has a higher pollutant emission inhibition effect on large polluters. Such a positive environmental impact is confirmed for energy-intensive, large, rather than non-energy-intensive and small enterprises, showing heterogeneous effects across different enterprises. We also find that promoting green technology innovation and environmental compliance are the important channels through which the policy improves environmental quality. Therefore, the energy-saving policy can improve environmental quality by setting constrained targets on energy consumption, especially in developing countries.