Analysis Of The Policy Effect Of Carbon Emission Permits

Carbon emission trading system plays a critical role in carbon constraints,and moreover,as a market mechanism,it can optimize the allocation of resources,encouraging polluting enterprises to withdraw from the resource market.On the other hand,it also encourages enterprises input more capitals,technicists and other resources into technical research.In this article we will analyze the policy effect of carbon emission trading system on environmental efficiency and the threshold effect of environmental resource allocation efficiency in the process of promoting energy conservation and emission reduction,and provide suggestions for the construction of carbon emission trading market.This article analyzes the effect of carbon emission trading policy on environmental efficiency from both theoretical and empirical aspects.Firstly,the paper expounds the influence mechanism of the establishment of carbon trading market on carbon emission and environmental resource allocation.First,the trading system plays a key role in clarifying property rights.With the establishment of this system,carbon emissions quotas officially became a kind of environment and resources,and then reduced the transaction cost.Second,the system sets a flexible and variable price,which can be adjusted with the change of demand and supply.When the market is effective,it will give out the optimal price for both the economy and the environment.Third,the system also encourages enterprises with low production capacity to transfer their market shares to enterprises with one with higher production capacity.In this article we use a SBM model to estimate environmental efficiency of 30 provinces in China,and find out that most of the resource allocation efficiency rouse from 2007 to 2017,but there were also some differences from different region.The eastern provinces behave better in resources allocation efficiency than those western ones,Finally,we build a PSM-DID model to measure the policy impact of the carbon emissions trading system of China,the study found that this policy significantly improved the efficiency of environmental resources allocation and effectively decreased the carbon emission level.Furthermore,we constructed a threshold effect model to analyse whether there are different effects of environmental regulation when economic entities have different level of environmental efficiency.And the results is:in the provinces with low environmental efficiency,the effects of environmental regulation support the conclusion of the "green paradox"hypothesis,while in the areas with high environmental efficiency,environmental regulation significantly reduced the carbon emission intensity.