How does environmental regulatory pressure impact energy efficiency: evidence from China
摘要
To achieve environmentally inclusive growth and economic development goals, it is crucial to understand the impact and mechanisms of environmental regulatory pressure on energy efficiency. This study empirically tests the effects of ambient air quality standards (AAQS) on energy efficiency using a staggered DID with a sample of Chinese prefecture-level cities from 2006-2019. Additionally, a novel energy-oriented intermediate model based on the common meta-frontier is developed to measure energy efficiency in a more scientific way. The results show that the implementation of new standards significantly improves city energy efficiency, which is influenced by heterogeneity in geographic location, city size, and resource endowment. The implementation of the new standard realizes the improvement of energy efficiency through the improvement of government environmental intervention, industrial structure upgrading, and green innovation effect. These three effects exhibit both regional and temporal variability. Moreover, the degree of economic decentralization, indicating the financial resources of local governments, plays a significant role in amplifying the impact of the new standards on energy efficiency. These findings identify new drivers for achieving a'win–win' situation for both the economy and the environment within the decentralized system.