Boosting green technology innovation in China's construction industry: The power of energy-consuming rights trading policy

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy Pub Date : 2024-08-29 DOI:10.1016/j.eap.2024.08.029

Xingwei Li, Jie Yang, Yuhong Yao, Zuoyi Ding, Jiekuo Hao, Wenjun Yin, Qiong Shen

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引用次数: 0

Abstract

Despite the energy-consuming rights trading (ECRT) as a policy practice to achieve the Sustainable Development Goals (SDGs), the existing literature has not yet clearly revealed how it affects green technology innovation in the construction industry. Based on the panel data of 30 provincial-level administrative regions in China from 2010 to 2021, this paper empirically examines the impact and mechanism of the pilot ECRT policy on green technology innovation in the construction industry using the difference-in-differences (DID) method. The study shows that the ECRT policy significantly enhances green technology innovation in the construction industry in the pilot areas. Specifically, the level of green technological innovation in the construction industry in the pilot areas increased by 23.2 % after the implementation of the ECRT policy. Further mechanistic tests show that the ECRT policy promotes green technological innovation in the construction industry by increasing research and development (R&D) investment and upgrading the industrial structure. This paper assesses for the first time the impact of the ECRT policy on green technology innovation from the construction industry's perspective, providing a new perspective for assessing the impact of market-based environmental regulation. This paper is also highly significant for the government to enhance its policies on energy saving and pollution reduction.

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推动中国建筑业的绿色技术创新：耗能权交易政策的力量

尽管耗能权交易（ECRT）是实现可持续发展目标（SDGs）的一项政策实践，但现有文献尚未明确揭示其如何影响建筑业的绿色技术创新。本文基于 2010 年至 2021 年中国 30 个省级行政区的面板数据，采用差分法（DID）实证检验了 ECRT 试点政策对建筑业绿色技术创新的影响及作用机制。研究表明，ECRT 政策显著提升了试点地区建筑业绿色技术创新水平。具体而言，ECRT 政策实施后，试点地区建筑业绿色技术创新水平提高了 23.2%。进一步的机理检验表明，ECRT 政策通过增加研发投入和产业结构升级促进了建筑业的绿色技术创新。本文首次从建筑业的角度评估了 ECRT 政策对绿色技术创新的影响，为评估基于市场的环境规制的影响提供了一个新的视角。本文对于政府加强节能减排政策也具有重要意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economic Analysis and Policy ECONOMICS-

CiteScore

9.80

自引率

9.20%

发文量

231

审稿时长

93 days

期刊介绍： Economic Analysis and Policy (established 1970) publishes articles from all branches of economics with a particular focus on research, theoretical and applied, which has strong policy relevance. The journal also publishes survey articles and empirical replications on key policy issues. Authors are expected to highlight the main insights in a non-technical introduction and in the conclusion.