The Impact Of Carbon Emissions Trading On China's Industrial Green Total Factor Productivity

"Not only the golden mountains and silver mountains,but also the green water and green mountains." A low-carbon economy is an important task for China to build an ecological civilization and achieve sustainable development.In order to reduce carbon dioxide emissions and achieve a green transformation,the Chinese government has begun to gradually implement the construction of carbon emissions trading since the 2011 carbon emissions trading policy was announced.As the key field of energy conservation and emission reduction in China,the scientific and quantitative analysis of the impact of carbon emissions trading on the green total factor productivity(GTFP)of China's industrial industry is important for China's transition from industrial civilization to ecological civilization,achieving a win-win situation for economic growth and environmental improvement.Based on the assumption of industry heterogeneity,this article analyzes the relevant data of 38 double-digit industries from 2005 to 2017 based on the industry aspect.Firstly,this article summarizes the current situation of carbon emissions trading and measures the carbon emissions of industrial sub-sectors.By observing the differences in carbon emissions between different industries,it finds that the changing trend of polluting industries is significantly greater than that of non-polluting industries,and the changes of polluting industries in carbon emissions trading occurred after the policy was announced,indicating that the policy had a certain positive impact on reducing carbon emissions in China's industrial pollution industry;Secondly,this article introduces carbon emissions as unexpected output,and constructs a GML index and its decomposition items to measure the industry's GTFP changes in the growth rate of the economy,that have found a slight downward trend overall,which is mainly related to the extensive development model of China's industrial economy in the early days.From the perspective of decomposition items,it finds that the negative effect of technological efficiency change is greater than the positive effect of technological progress.It is necessary to strengthen the technological progress effect to bring about a long-term green growth effect;Finally,to compare China's industrial GTFP changes before and after carbon emissions trading was announced,this article builds a difference in difference(DID)model and its marginal effect model to measure the overall effect and marginal effect after the implementation of the policy.The analysis finds that the carbon emissions trading policy has a positive effect on the growth of GTFP in China's industrial pollution industry,but there is a certain time lag,and the marginal effect in the later period of the policy has also declined,showing a certain lack of growth engine.Based on this,this article proposes the following recommendations by studying the impact of carbon emissions trading policy on China's industrial GTFP:1.The government can increase the effect of reducing emissions by increasing subsidies and financial transfer payments for scientific research on industry green projects such as cutting corporate tax,increasing credit lines,and incentivizing policies for green invention patents to encourage the entire industries'innovation in green technologies.By improving the effect of technological progress and technology scale,the optimization and upgrading of industrial structure and the continuous growth of GTFP are realized;2.For carbon emissions trading policies,the government also needs to take factors such as internal resource endowment,industry scale,and industrial cycle of the industry into considerations to classify and treat differently industries with different pollution levels to achieve a smooth transition from a single industrial industry economy to the overall industrial economy,and finally to the entire national economy;3.By enhancing the information transparency of industry carbon emissions and raising the industry's entry barriers to reduce information asymmetry within the industry.On the one hand,it can help the public to raise awareness of environmental protection,thereby forming effective supervision and increasing the carbon emission cost of the polluting industry;On the other hand,it can also strengthen the environmental responsibility awareness of the industries and local enterprises,and encourage the polluting industries to increase green innovation and transformation.It is of great significance for improving China's carbon emissions management and building an ecological civilization.