{"title":"State ownership and cost-effectiveness of environmental policies: Firm-level evidence","authors":"Maoyong Fan, Shunqi Ge, Haoyang Li, Jinhua Zhao","doi":"10.1111/ecin.70012","DOIUrl":null,"url":null,"abstract":"<p>We employ Chinese firm-level data to examine the interconnections among firm ownership, environmental regulation, and non-environmental economic policies. We find that there are substantial differences between state-owned enterprises (SOEs) and privately-owned enterprises (POEs) in their responses to government anti-pollution mandates. SOEs reduced emissions more than POEs, with the former relying mainly on abatement investment and the latter on reducing outputs. An average POE's marginal abatement cost is more than nine times that of an average SOE, suggesting significant inefficiencies in policy implementation. Policies liberalizing financial markets could affect POEs' abatement costs and improve the cost-effectiveness of environmental policies.</p>","PeriodicalId":51380,"journal":{"name":"Economic Inquiry","volume":"63 4","pages":"1252-1278"},"PeriodicalIF":1.3000,"publicationDate":"2025-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Inquiry","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ecin.70012","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
We employ Chinese firm-level data to examine the interconnections among firm ownership, environmental regulation, and non-environmental economic policies. We find that there are substantial differences between state-owned enterprises (SOEs) and privately-owned enterprises (POEs) in their responses to government anti-pollution mandates. SOEs reduced emissions more than POEs, with the former relying mainly on abatement investment and the latter on reducing outputs. An average POE's marginal abatement cost is more than nine times that of an average SOE, suggesting significant inefficiencies in policy implementation. Policies liberalizing financial markets could affect POEs' abatement costs and improve the cost-effectiveness of environmental policies.
期刊介绍：
Published since 1962, (formerly Western Economic Journal), EI is widely regarded as one of the top scholarly journals in its field. Besides containing research on all economics topic areas, a principal objective is to make each article understandable to economists who are not necessarily specialists in the article topic area. Nine Nobel laureates are among EI long list of prestigious authors.
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