Research On Environmental Regulation's Effect On Green Economic Growth

China's economy has multiplied and achieved world-renowned achievements since the reform and opening-up.However,it has also paid a huge environmental price.Recent decades of China's economic development have experienced the outbreak of the environmental problems which arose from the economic development in developed countries over the past century.The traditional extensive economic development mode is challenging to promote the sustained and healthy development of China's economy,and it is imperative to change the economic development mode.The report of the 18 th National Congress first proposed green development.The Fifth Plenary Session of the 18 th CPC Central Committee took green development as an important guiding concept for future economic and social development.The report of the 19 th National Congress proposed to promote green development.Green economic growth,as a vital part of green development,emphasizes that a new type of economic growth that can achieve coordinated economic and environmental development under the constraints of resource carrying capacity.Green economic growth is also a meaningful way to achieve sustainable and healthy economic development.Due to the scarcity of environmental resources,externalities,unclear property rights,and expensive transaction costs,as well as the opportunism of microeconomic entities,market mechanism alone cannot achieve environmental protection and cannot promote green economic growth.Therefore,environmental regulations have emerged as a means to solve market failures and achieve environmental protection.The laws and regulations on environmental regulation in China have increased after more than 40 years,the tools of environmental regulation are enriched,and the intensity of environmental regulations has also significantly improved.Here is a question: can environmental regulations promote green economic growth? And how?This paper focuses on the effects of environmental regulation on green economic growth.First of all,the relevant domestic and foreign-related literature on environmental regulation,economic growth,environmental regulation,and green economic growth are summarized.Moreover,the concepts of environmental regulation and green economic growth are given by sorting the connotations of environmental regulation and green economic growth at home and abroad.The paper also systematically expounds the theory of market failure,economic growth,and new institutionalism,which lays the foundation for subsequent research.Secondly,the paper introduces the state of environmental regulation and the growth of the green economy in detail.Thirdly,the system explored three issues: "If the environmental regulations can promote green economic growth," "Transmission mechanism of environmental regulation on green economic growth," and "Threshold effect of environmental regulation on green economic growth," which reflect the effects of regulation on green economic growth more comprehensively.Finally,the paper puts forward countermeasures and suggestions such as deepening environmental regulatory reforms,improving environmental governance capabilities,enhancing the power of economic transformation,transforming economic growth modes,strengthening institutional construction,and enhancing institutional security capabilities.The main conclusions of the paper are:(1)the development of China's environmental regulations has continued to mature;the implementation of environmental regulations has achieved good results.(2)The level of green economic growth in the whole country and the central and eastern regions has continued to increase,mainly due to the improvement of the level of green technological progress.The level of green economic growth in the eastern region is higher than that in the central region;the level of green economic growth in the western region has declined,due to the decline in the level of green technology efficiency;the growth of the green economy across the country and in the eastern,central,and western regions converge.(3)Environmental regulations have significantly promoted the growth of the green economy.(4)Environmental regulations have promoted green economic growth through three paths of industrial structure upgrade,technological innovation,and foreign direct investment.(5)The effects of environmental regulations on the growth of the green economy have the threshold effect of environmental decentralization,fiscal decentralization,and the degree of marketization.The effects of environmental regulation on green economic growth have a double threshold for environmental decentralization.When environmental decentralization is low,it is not conducive to the role of environmental regulation in promoting green economic growth.When environmental decentralization is moderate,it helps to improve the effects of environmental regulations' on promoting green economic growth.When environmental decentralization is high,it is not conducive to the role of environmental regulation in promoting green economic growth.The effects of environmental regulation on green economic growth have a single threshold for fiscal decentralization.When fiscal decentralization is low,it helps to improve the effects of environmental regulations' on promoting green economic growth.When fiscal decentralization is high,it is not conducive to the role of environmental regulations in promoting green economic growth.The effects of environmental regulation on the growth of the green economy have a single threshold for marketization.When the degree of marketization is low,it is not conducive to the role of environmental regulations in promoting green economic growth.When the degree of marketization is high,it helps to improve the effects of environmental regulations' on promoting green economic growth.