Does Carbon Reduction Target Policy Improve Green Productivity of Coal‐fired Power Plants in China? A DDD Analysis

Guanwen Zhu

《World Scientific Research Journal》 7卷4期 (2021/04) Pp. 249-255

https://doi.org/10.6911/WSRJ.202104_7(4).0030

摘要

Whether or not environmental regulation can improve the productivity growth and carbon abatement is important for a country to develop sustainably. This paper studies how carbon reduction target policy (CRTP) that the Chinese government initiated in 12th Five-Year Plan (FYP) influence the green productivity of coal-fired power plants (CPPs). Based on Biennial Malmquist-Luenberger productivity index (BML) measure method, we use the DEA method to assess the green productivity of China's CPPs over 2005-2015. Furthermore, regarding the CICP proposed during 12th FYP as a natural experiment, we estimate the impact of this policy on green productivity of China's CPPs by adopting the difference-in-differences-in-differences (DDD) method. The results indicate that green productivity of China's CPPs presents a upward trend and the increase in efficiency change is the vital driver of enhancing the green productivity. The heterogeneity of the green productivity of China's CPPs exists. Green productivity of China's CPPs has improved after implementing the CRTP, and the positive effect of such a policy is getting larger over time. Therefore, China's CRTP is potent in productivity growth and carbon abatement.

關鍵字

Carbon reduction target policy ； Green productivity ； Biennial Malmquist-Luenberger index (BML) ； Difference-in-differences-in-differences (DDD)

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