Research on the Impact of Environmental Regulations on Industrial Green Total Factor Productivity: Perspectives on the Changes in the Allocation Ratio of Factors among Different Industries

Sustainability

Deyuan Zhang¹  Jiaqi Yuan² 

[1] Institute of Economic System and Management, Academy of Macroeconomic Research, National Development and Reform Commission, Beijing 100035, China;School of Economics and Management, Beijing Jiaotong University, Beijing 100044, China;

关键词: environmental regulation;    green total factor productivity;    inter-industry factor allocation;    EBM-ML model;    instrumental variable method;   

DOI  :  10.3390/su132312947

来源: DOAJ

【 摘 要 】

This paper constructs a two-sector manufacturer model of endogenous technological progress. We analyze the impact of environmental regulations on the factor input and output of different industries. Then, we reveal the intermediary role of inter-industry factor allocation in the impact of environmental regulations on industrial green total factor productivity (GTFP). Finally, the paper uses panel data from 30 provinces in China’s industry from 2000 to 2017 to conduct empirical tests. We can draw the following conclusions: (1) The relative magnitude of the output compensation of the production department and the innovation compensation of the R&D department could change the impact of environmental regulations on the input and output of inter-industry factors, and the comprehensive effects of both input and output will affect the level of GTFP. (2) The curve of the direct impact of environmental regulations on GTFP is in an inverted “U” shape. However, the production factor allocation ratio can “reverse” the inhibitory effect of high-intensity regulations on GTFP. (3) The capital factor has a greater impact on the regulatory effect, but the labor factor has a more lasting impact on the regulatory effect. High-strength environmental regulations can enhance manufacturers’ preference for human capital. Therefore, formulating environmental regulatory policies oriented to improve the ratio of factor allocation, mixing different types of regulatory policies, and increasing investment in human capital are all conducive to accelerating the transformation and upgrading of China’s industrial structure and achieving high-quality development of the industrial economy.

【 授权许可】

Unknown