文献类型：期刊文献

英文题名：Assessing the impact of tradable discharge permit on pollution reduction and innovation: micro-evidence from Chinese industrial enterprises

作者：Tang, Maogang[1];Zhang, Ruihan[2];Li, Zhen[1];Wu, Baijun[1]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[2]Shanghai Univ Finance & Econ, Sch Econ, Shanghai 200433, Peoples R China

年份：2021

卷号：23

期号：11

起止页码：16911

外文期刊名：ENVIRONMENT DEVELOPMENT AND SUSTAINABILITY

收录：;WOS:【SSCI(收录号:WOS:000638012900001)，SCI-EXPANDED(收录号:WOS:000638012900001)】；

基金：This research was funded by the Major Project on Humanities and Social Sciences of Shanghai Municipal Education Commission Research and Innovation Program "Research on the effective supply mechanism of urban public goods" [2017-01-07-00-02-E00008], as well as the National Natural Science Foundation of China (72073045). We also thank the anonymous reviewers for their helpful and valuable comments and suggestions to improve the quality of the study. We sincerely thank Professor Pan Chunyang for his constructive contribution in micro data processing.

语种：英文

外文关键词：Tradable discharge permit; Pollution reduction; Pollution intensity; Innovation; Difference-in-difference-in-difference; China

摘要：The impact of a tradable discharge permit system on pollution reduction, pollution intensity, and innovation depends on market perfection. To verify this assumption, this study matches China's Industrial Enterprise Database with the Industrial Enterprise Pollution Emissions Database and applies the difference-in-difference-in-difference estimator for empirical analysis. The results show that implementing a tradable discharge permit policy can promote pollution reduction and pollution intensity reduction for pilot regions with a high degree of marketization. However, the implementation of a tradable discharge permit policy did not have a significant impact on innovation. This indicates that the Porter hypothesis was not valid during the sample period from 2000 to 2012 in China. Enterprises tend to achieve pollution abatement through end-of-pipe control or reduced output rather than through technological innovation. Moreover, high institutional transaction costs lead to a weak incentive effect of the tradable discharge permit system on promoting enterprise innovation. Furthermore, greater market power is conducive to corporate innovation in regions with a high degree of marketization. The results of a heterogeneity analysis show that the impact of a tradable discharge permit system differs by enterprise ownership and region. The findings have clear policy implications: the Chinese government should consider applying the hybrid approach by combining a tradable discharge permit system with a given emission standard and foster competition.