Research On The Impact Of Natural Capital On Social Welfare Under Environmental Regulation

Natural resources provide innumerable resources products and ecosystem services to maintain the well-being of human beings,but also provide non-material benefits in the form of cultural,recreational and aesthetic experience,which is of great significance to human society.However,because of the pursuit of economic output,the living space of natural resources is gradually compressed,and the contradiction between the pattern of extensive development and the environment is becoming more and more acute.The value of environment in the process of economic development has aroused the attention of academia.In 1990,Pearce s the value of the environment into the concept of economics natural capital,and carries on the theoretical examination of its connotation and the revolution of the green economy.Natural capital,compared to natural resources,emphasizes the economic capital attributes and is the economic stock of natural resources that can produce useful value streams in the present or in the future.Since the 18th National Congress of the Communist Party of China,China's economy has entered a new era of development,and the new requirements for green,low-carbon and high-quality development have been put forward.Economic development will affect the level of social welfare.At present,how to increase the intensity of environmental protection and how to influence the welfare level of various regions is a hot issue in the current academic circles.However,scholars focus on the impact of the choice of environmental regulation tools on social welfare and the impact of natural capital stock on social welfare.Based on this,the influence of natural capital on social welfare under the study of environmental regulation is the starting point of the article.The natural capital itself has a positive effect on the social welfare level.However,the extensive economic development model has compressed the proliferation space of the natural capital and destroyed its service function.At this point,the level of social welfare has a restraining effect.With the intervention of environmental regulation,the protection of natural capital is strengthened,the ecological function and economic effect of natural capital are restored,and the level of social welfare is improved.Secondly,the natural capital is introduced into the social welfare function,and the relevant data such as the environmental regulation strength,the natural capital stock and the social welfare level in China's 26 provinces have been tested empirically.The results show that under environmental regulation,natural capital promotes the improvement of social welfare level through both direct and indirect paths,and the stock of natural capital is positively correlated with the level of social welfare.At present,China's high-strength environmental regulation is more conducive to the improvement of the level of social welfare.Finally,based on the findings of the study,the following policy recommendations are put forward:(1)strengthening the protection and investment of natural capital and improving the natural capital management system;(2)increasing the intensity of environmental regulation to effectively guide the behavior of market subjects;(3)strengthen the concept of national green development and reshape the harmonious relationship between man and nature;(4)Establish and improve the social welfare system and improve the quality of life of the residents.