The Impact Of The Policy Of Eliminating Outdated Production Capacity On Enterprise Emission Reduction

Through more than 30 years of development,China’s economy and society have completed the history of economic development in western countries for more than 200 years,bringing a lot of social wealth in a short period of time,but the problem of extensive economic development has become more and more prominent..At the same time,in daily life,in addition to the daily garbage that people need to discharge,the key problem that really threatens the survival and development of human beings,affects the sustainable development of the environment,and restricts the high-quality development of the economy is the large amount of pollution emitted by enterprises through production activities.Under this premise,it is necessary for the state to issue a series of environmental regulation policies to limit the indiscriminate discharge of enterprises.In recent years,the economics community has been constantly discussing how to balance the relationship between environmental protection and economic benefits,and the study of the impact of environmental protection regulations on corporate business activities has become a hot issue.Regarding the reasons for the formation of backward production capacity,there are both institutional factors and market-oriented factors,which lead to the inability to eradicate the stubborn diseases of backward production capacity.The policy of eliminating backward production capacity,which was implemented in the 1990 s,aims to alleviate the imbalance between environmental and economic development by promoting the elimination of backward production capacity,and plays an important role in my country’s environmental governance.This paper attempts to take the policy of eliminating outdated production capacity during the "Eleventh Five-Year Plan" period as an example,based on the data of Chinese industrial enterprises and China’s environmental statistics from 2003 to 2009,using the Differences-in-Differences model(DID),to study the direct effect of eliminating outdated production capacity on enterprises’ emission reduction.Influence effect,and from the perspective of total factor productivity and micro-enterprise output,the impact of eliminating outdated production capacity on corporate pollution emissions is discussed.Firstly,in the process of theoretical analysis and empirical analysis,this paper identifies the impact of eliminating outdated production capacity on corporate pollution reduction through data processing and then building a model.The conclusion is that eliminating outdated production capacity promotes emission reduction of enterprises.In view of the fact that my country announced the first batch of outdated production capacity list in 2007,this paper regards the announcement of the list as a quasi-natural experiment.The emission reduction effect is empirically analyzed.It can be seen from the analysis results that the estimated coefficient of the impact of eliminating outdated production capacity on the pollution emission intensity of enterprises is significantly negative.It shows that the implementation of my country’s environmental regulation policies for enterprises to eliminate backward production capacity can promote enterprises to reduce emissions.On this basis,it is analyzed from the perspective of dynamic effects,and it is found that the impact of the policy of eliminating backward production capacity on the pollution emission behavior of enterprises basically meets the parallel trend test.Secondly,in order to ensure the accuracy of the results,this paper makes a series of robustness tests on the estimated results,so as to ensure that the policy of eliminating outdated production capacity can reduce the pollution emissions of enterprises.Specifically,it includes:(1)PSM-DID method is used to match the samples to obtain the most suitable control group sample;(2)The influence of important energy-saving policies in the same period is excluded to ensure that the policy of eliminating outdated production capacity will not interfere with other factors;(3)Change the time node of policy shock to re-do double difference to exclude random time-level factors;(4)Placebo test;(5)Regress by industry to test the impact of policy on different industries.No matter which of the above robustness tests is used,there is no significant difference in the results,which effectively proves the authenticity of the conclusions of this paper.Then,in order to explore the impact mechanism of the policy of eliminating outdated production capacity on pollution reduction of enterprises,this paper combines the relevant documents and theoretical research on eliminating outdated production capacity,and analyzes the impact mechanism from the perspectives of front-end control and end-processing.The two channels of front-end control and corporate exit will reduce corporate pollution emissions.The related heterogeneity analysis was carried out according to the nature of enterprises and regional differences,and it was found that the emission reduction effect of state-owned enterprises and the eastern region was more obvious.Finally,according to the conclusions drawn from the empirical test of this paper,relevant policy suggestions are put forward.