Energy-use rights trading, technological innovation, and green transformation of energy-intensive manufacturing enterprises

IF 7.9 2区经济学 Q1 ECONOMICS

Economic Analysis and Policy Pub Date : 2025-03-27 DOI:10.1016/j.eap.2025.03.052

Weijie Zhang , Bowen Li

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引用次数: 0

Abstract

This study investigates the influence and mechanisms of energy-use rights trading (EURT) on the green transformation of energy-intensive manufacturing firms, using data from A-share energy-intensive companies between 2011 and 2021. Employing the difference-in-differences (DID) approach, the study shows that EURT significantly enhances green transformation of energy-intensive manufacturing firms within pilot regions. This finding remains robust after a series of robustness tests, such as parallel trend, alternative measurements, PSM-DID, DDD, placebo, simultaneous policy exclusion test and IV. Mechanism exploration indicates that EURT promotes green technological innovation and digital technological innovation of energy-intensive manufacturing companies through green patent applications increase, energy-saving and waste reduction technologies development, and digital patents growth, underlying technology and scene driven technology enhancement, thus fostering their green transition. Heterogeneity analysis reveals that EURT catalyzes the green transformation of non-state-owned enterprises, larger firms, enterprises in pilot with better policy implementation such as Zhejiang province, firms in eastern areas, and enterprises of capital-intensive industry more efficiently. This research offers empirical support for improving green evolution of energy-intensive manufacturing firms from the improvement of EURT, innovation of green technology and digital technology.

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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.