The influence of carbon emission trading on total factor productivity of heavy-polluting enterprises
Zhang Qian
Wang Rui
Abstract：Under the constraints of the carbon peak goal and the vision of carbon neutrality,heavy-polluting enterprises,as important subject of greenhouse gas emissions,are urgent to achieve green transformation and high-quality development.Based on China's carbon trading policy as a natural experiment,this paper collects the panel data of heavy-polluting enterprises from 2010 to 2022,and uses the difference-in-differences model to study the impact and mechanism of carbon trading policy on total factor productivity in heavy-polluting enterprises.The results show that carbon trading policy can improve the total factor productivity of heavy-polluting enterprises,and green technology innovation and financing constraints play a partial intermediary role.Heterogeneity analysis shows that the effect of carbon trading policy on total factor productivity is more obvious in the central and western regions,state-owned and large-scale heavy-polluting enterprises.The conclusion is of great significance to promote the sustainable development of heavy-polluting enterprises.At the same time,it also provides a reference for further development of the national carbon market.
Keywords：difference-in-differencescarbon emission tradingtotal factor productivitygreen technology innovationfinancing constraints
Publication Date：2023-05-20
Online Publishing Date：2025-08-15(First online date of this platform, not the publication date of the document)
Pages：9( 4-12 )