Journal
JOURNAL OF CLEANER PRODUCTION
Volume 281, Issue -, Pages -Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.jclepro.2020.125361
Keywords
Carbon trading pilot policy; Difference-in-differences-in-differences model; Low-carbon international competitiveness
Categories
Funding
- Major Program of National Social Science Foundation of China [18ZDA107]
- National Social Science Foundation of China [19CJY021]
- National Key Research and Development Project of China [2018YFC1509005]
- pilot programs for major science, technology and innovation projects toward 2030 of China Energy Investment Corporation-Clean and efficient utilization of coal [GJNY2030XDXM-19-20.1]
- Youth Academic Team in Humanities and Social Sciences of Wuhan University [4103-413100001]
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The study found that the carbon trading pilot policy has a significant positive impact on the low-carbon international competitiveness of industries covered by the pilot programs, mainly by driving low-carbon technological progress to enhance industry competitiveness. Different industry characteristics and carbon allowance allocation methods play a significant role in the impact, especially in industries with low-carbon emissions, high state-owned capital, and high export intensity.
This paper examines the impact of a carbon trading pilot policy on the low-carbon international competitiveness of an industry to test whether creating a carbon market causes the Porter effect. Using a sample of 33 industries in 30 provinces in China from 2009 to 2016 with a difference-in-difference-indifference model (DDD) and a series of robustness tests, we find evidence of a significant positive influence of a carbon trading pilot policy on the low-carbon international competitiveness of industries covered by the pilot programs. Research on its influencing mechanism reveals that a carbon trading pilot policy promotes the low-carbon international competitiveness of industries by driving low-carbon technological progress. Furthermore, a heterogeneity analysis of industry characteristics and carbon allowance allocation methods in different pilots indicates that the impact of a carbon trading pilot policy on industry low-carbon international competitiveness is reflected mainly in industries with low-carbon emissions, high state-owned capital, and high export intensity. Compared with the grandfather method and the historical intensity method, the low-carbon international competitiveness of an industry is significantly increased when the benchmarking method is used. The results of this paper offer important insights for improving the policy design of a nationwide carbon market, as well as a reference point for other countries and regions, especially developing countries, in establishing a carbon trading market. (C) 2020 Elsevier Ltd. All rights reserved.
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