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<p>With the growing prominence of global environmental issues, low-carbon economic development (LCED) has become a primary objective for countries worldwide. This study investigates the impact and underlying mechanisms of China's carbon emissions trading policy (CETP) on LCED by utilizing panel data from 30 provinces in China, spanning the period from 2004 to 2019. The Slacks-Based Measure (SBM)-Global Malmquist-Luenberger (GML) index is used to measure LCED levels, while a difference-in-differences (DID) model is employed to evaluate the policy's effects. The results show that: (1) CETP significantly promotes LCED, with this conclusion remaining robust after a series of robustness tests; (2) Mechanism analysis indicates that CETP facilitates LCED primarily through three channels: green technological innovation, industrial structure upgrading, and energy consumption reduction; (3) Further analysis demonstrates regional heterogeneity in policy effectiveness, with the western region experiencing the most significant benefits, followed by the eastern and central regions; (4) CETP also exhibits positive spatial spillover effects, fostering LCED in neighboring provinces. Based on these findings, this study offers policy recommendations for advancing LCED in China. Furthermore, the conclusions provide valuable empirical evidence that can serve as a reference for other countries striving to achieve LCED.</p>

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The impact of carbon emissions trading policy on low-carbon economic development in China: an empirical analysis based on the environmental triple effect

  • 期刊论文

  • 发表日期：

    2025年4月6日

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  • Yongkai Wang,
  • Qiguang An,
  • Ruoyu Wang,
  • Yunpeng Ma,
  • Lin Li

摘要

With the growing prominence of global environmental issues, low-carbon economic development (LCED) has become a primary objective for countries worldwide. This study investigates the impact and underlying mechanisms of China's carbon emissions trading policy (CETP) on LCED by utilizing panel data from 30 provinces in China, spanning the period from 2004 to 2019. The Slacks-Based Measure (SBM)-Global Malmquist-Luenberger (GML) index is used to measure LCED levels, while a difference-in-differences (DID) model is employed to evaluate the policy's effects. The results show that: (1) CETP significantly promotes LCED, with this conclusion remaining robust after a series of robustness tests; (2) Mechanism analysis indicates that CETP facilitates LCED primarily through three channels: green technological innovation, industrial structure upgrading, and energy consumption reduction; (3) Further analysis demonstrates regional heterogeneity in policy effectiveness, with the western region experiencing the most significant benefits, followed by the eastern and central regions; (4) CETP also exhibits positive spatial spillover effects, fostering LCED in neighboring provinces. Based on these findings, this study offers policy recommendations for advancing LCED in China. Furthermore, the conclusions provide valuable empirical evidence that can serve as a reference for other countries striving to achieve LCED.