Can the New Energy Vehicle Pilot Policy Achieve Green Innovation and Emission Reduction?-A Difference-in-Differences Analysis on the Evaluation of China's New Energy Fiscal Subsidy Policy

Wang, Susheng1,2; Chen, Gang1; Huang, Dawei1,3

2021-08-01

10.3390/su13158643

SUSTAINABILITY   影响因子和分区

2071-1050

Whether the new energy vehicle pilot policy (NEVPP) can achieve green innovation and emission reduction is an important exploration for China to achieve green and sustainable development. This research aims to empirically investigate the impact, impact mechanism, and heterogeneity characteristics of the NEVPP on urban green innovation and emission reduction based on panel data from 281 cities in China from 2004 to 2017, using difference-in-differences (DID) methods and fixed effect (FE) models. The results show that the NEVPP significantly reduces the carbon dioxide emissions of the pilot cities but significantly inhibits the green innovation, and the results are robust to the placebo test, propensity score matching DID (PSM-DID) test, instrumental variable (IV) estimation, emissions trading system (ETS), and Carbon-ETS interference test, and change of the dependent variable. In addition, further studies have shown that the NEVPP's emission reduction effects are mainly achieved by reducing energy consumption, promoting technological innovation, and adjusting industrial structure. Moreover, we found that the NEVPP performed better in the regions where the level of economic development is high, the local government has a good relationship with the market, and the level of non-state economic development is high. In general, our research results show that the NEVPP has achieved innovation and emission reduction policy effects in China, but it is also accompanied by an inhibitory effect on green technological innovation.

NEVPP green innovation difference-in-differences emission reduction carbon emission energy conservation industry structure heterogeneity

SCI ; SSCI

英语

其他

Ministry of education of Humanities and Social Science project[17YJCZH063] ; Shenzhen Philosophy and Social Sciences Planning 2020 Project[SZ2020B012]

Science & Technology - Other Topics ; Environmental Sciences & Ecology

Green & Sustainable Science & Technology ; Environmental Sciences ; Environmental Studies

WOS:000682260400001

MDPI

Web of Science

1.Harbin Inst Technol, Sch Econ & Management, Shenzhen 518055, Peoples R China
2.Southern Univ Sci & Technol, Dept Finance, Shenzhen 518055, Peoples R China
3.Shenzhen Polytech, Sch Management, Shenzhen 518055, Peoples R China

Wang, Susheng,Chen, Gang,Huang, Dawei. Can the New Energy Vehicle Pilot Policy Achieve Green Innovation and Emission Reduction?-A Difference-in-Differences Analysis on the Evaluation of China's New Energy Fiscal Subsidy Policy[J]. SUSTAINABILITY,2021,13(15).

Wang, Susheng,Chen, Gang,&Huang, Dawei.(2021).Can the New Energy Vehicle Pilot Policy Achieve Green Innovation and Emission Reduction?-A Difference-in-Differences Analysis on the Evaluation of China's New Energy Fiscal Subsidy Policy.SUSTAINABILITY,13(15).

Wang, Susheng,et al."Can the New Energy Vehicle Pilot Policy Achieve Green Innovation and Emission Reduction?-A Difference-in-Differences Analysis on the Evaluation of China's New Energy Fiscal Subsidy Policy".SUSTAINABILITY 13.15(2021).