scholarly journals Does Green Credit Policy Move the Industrial Firms Toward a Greener Future? Evidence From a Quasi-Natural Experiment in China

2022 ◽  
Vol 9 ◽  
Author(s):  
Zumian Xiao ◽  
Lu Yu ◽  
Yinwei Liu ◽  
Xiaoning Bu ◽  
Zhichao Yin
Keyword(s):  
Sulfur Dioxide ◽  
Large Scale ◽  
Natural Experiment ◽  
Pollutant Emissions ◽  
Chinese Government ◽  
Eastern Region ◽  
Credit Policy ◽  
Firm Level ◽  
Sulfur Dioxide Emissions ◽  
The Impact

How to utilize financial instrument to deal with environmental issues has been a focal topic. Taking the introduction of green credit program as a “quasi-natural experiment,” the propensity score matching and difference-in-difference approach (PSM-DID) are used to investigate the impact of the green credit policy implemented by Chinese government on firm-level industrial pollutant emissions. The estimation results indicate that the green credit policy significantly reduces corporate sulfur dioxide emissions. Heterogeneity analysis shows this impact is more pronounced for large-scale enterprises and enterprises located in the eastern region. The estimated mediation models reveal that after the implementation of the green credit policy, reduction in sulfur dioxide emissions can be attribute to the increased environmental investment and improved energy consumption intensity. Moreover, the green credit policy is also significantly effective in mitigating the discharge of other common industrial pollutants. Our findings highlight the importance of green credit policies in achieving greener industrial production and more sustainable economic development.

scholarly journals Impact Analysis of Large-Scale Environmental Spot Inspection Policy on Green Innovation: Evidence From China

2021 ◽  
Vol 9 ◽  
Author(s):  
Bo Chen ◽  
Meitong Ren ◽  
Liye Chen
Keyword(s):  
Spatial Heterogeneity ◽  
Large Scale ◽  
Spillover Effect ◽  
Spillover Effects ◽  
Chinese Government ◽  
Eastern Region ◽  
Green Innovation ◽  
Inspection Policy ◽  
The Impact ◽  
Negative Spillover

The spot inspection policy has been widely applied in environmental protection in China. This paper collects environmental enforcement announcements and green patent data published by Chinese government agencies from 2006 to 2015. First, it studies the impact of spot inspection on green innovation with the spatial Durbin model. Then, it analyzes spatial heterogeneity according to the eastern, central, and western regions including 29 provinces. The spot inspection policy significantly increases the green innovation of a current region with a negative spillover effect on neighboring regions. Even though this policy has the best performance in the eastern region, it leads to pollution transfer into the western region, while being ineffective in the central region. Further, analysis on the spatial spillover effects of the 29 provinces proves that 21 provinces have a positive spillover effect, while eight provinces have a negative spillover effect. The research study shows that although spot inspection is generally beneficial to green innovation, pollution transfer and policy failure exist because of spatial heterogeneity.

scholarly journals Relationship between economic growth and SO2 emissions - based on the PSTR model

2019 ◽  
Vol 10 (2) ◽  
pp. 137-156 ◽  
Author(s):  
Ke Wu
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Sulfur Dioxide ◽  
Positive Impact ◽  
Threshold Value ◽  
Smooth Transition ◽  
Eastern Region ◽  
So2 Emissions ◽  
Sulfur Dioxide Emissions ◽  
The Impact

Abstract In this paper, we used the panel smooth transition model (PSTR) to study the nonlinear relationship between sulfur dioxide emissions and economic growth in the three regions of China’s eastern, middle and western regions, based on panel data from 31 provinces and autonomous regions in China from 2005 to 2017. And calculated the elasticity of the impact of total export-import volume and urbanization rate on emissions. The empirical results indicate that economic development and sulfur dioxide emissions are positively correlated in the three regions of East, Middle and West. In the eastern region, when the economic scale is lower than the threshold value, it has a negative impact on SO2 emissions; but when it is higher than the threshold value, it has a positive impact on SO2 emissions, and the smoothing rate between the two regime is slow. The per capita GDP in the middle and western regions is weakly positively correlated with SO2 emissions. When the economic scale reaches the threshold value, its positive impact on SO2 emissions will increase, and economic development will further increase emissions.

scholarly journals The Impact of China`s Acid Rain and Sulfur Dioxide Control Zones Policy on Industrial Sulfur Dioxide Emissions: A Panel Analysis

2011 ◽  
Vol 26 (2) ◽  
pp. 77-100
Author(s):  
Wu Yu Jia
Keyword(s):  
Sulfur Dioxide ◽  
Acid Rain ◽  
Fixed Effects ◽  
Chinese Government ◽  
Kuznets Curve ◽  
Panel Analysis ◽  
So2 Emissions ◽  
Control Zone ◽  
Sulfur Dioxide Emissions ◽  
The Impact

In order to control sulfur dioxide (SO2) emissions, the Chinese government in 1998 implemented the Acid Rain and Sulfur Dioxide Emission Control Zones policy (known as the Two Control Zone or TCZ policy). In a panel analysis of the impact of the TCZ policy on China`s industrial SO2 emissions, two-way fixed-effects models show that it did not significantly reduce either per capita SO2 emissions or SO2 intensity in China. The study also reveals that instead of the traditional inverted U-shaped Environmental Kuznets Curve, the relationship between income growth and sulfur pollution in China favors an N-shaped pattern. The empirical results indicate that the TCZ policy has not had a consistent, longterm impact on sulfur pollution control. This is in accord with previous studies and the actual situation in the two control zones. This paper presents two policy recommendations for improving the mitigation of SO2 pollution in China.

scholarly journals The Impact of Green Credit on the Green Innovation Level of Heavy-Polluting Enterprises—Evidence from China

2022 ◽  
Vol 19 (2) ◽  
pp. 650
Author(s):  
Zhifeng Zhang ◽  
Hongyan Duan ◽  
Shuangshuang Shan ◽  
Qingzhi Liu ◽  
Wenhui Geng
Keyword(s):  
Natural Experiment ◽  
Double Difference ◽  
Credit Policy ◽  
Green Innovation ◽  
Innovation Activities ◽  
Corporate Credit ◽  
Credit Financing ◽  
The Cost ◽  
The Impact

This article uses the “Green Credit Guidelines” promulgated in 2012 as an example to construct a quasi-natural experiment and uses the double difference method to test the impact of the implementation of the “Green Credit Guidelines” on the green innovation activities of heavy-polluting enterprises. The study found that, in comparison to non-heavy polluting enterprises, the implementation of green credit policies inhibited the green innovation of all heavy-polluting enterprises. In the analysis of heterogeneity, this restraint effect did not differ significantly due to the nature of property rights and the company’s size. The mechanism test showed that green credit policy limits the efficiency of business investment and increases the cost of financing business debt. Eliminating corporate credit financing, particularly long-term borrowing, negatively impacts the green innovation behavior of listed companies.

The Design and Implementation of Greenhouse Gas Emissions Trading

2016 ◽  
Author(s):  
Harro van Asselt
Keyword(s):  
United States ◽  
Sulfur Dioxide ◽  
Large Scale ◽  
Emissions Trading ◽  
The United States ◽  
Trading Systems ◽  
Sulfur Dioxide Emissions ◽  
Design And Implementation ◽  
Clean Air ◽  
Trading Scheme

This chapter offers a cross-jurisdictional analysis of the design and implementation of mandatory emissions trading schemes. It traces the beginning of emissions trading schemes from the sulfur dioxide emissions trading scheme in the United States, which was implemented through the Clean Air Act Amendments of 1990. After initial experiments at a local and regional level, the United States launched the first large-scale, countrywide trading system. This program sought to address the acid rain problem by creating a trading regime for sulfur dioxide emissions. This was the birthplace of large-scale emissions trading systems and from this point onwards, emissions trading schemes began to spread across jurisdictions. The chapter describes how the EU’s speedy adoption of an emissions trading directive in 2003 could be seen as an instance of horizontal borrowing from the United States, spurred by the simple need to keep the costs of reducing emissions down.

scholarly journals Impact of Control Measures on Nitrogen Oxides, Sulfur Dioxide and Particulate Matter Emissions from Coal-Fired Power Plants in Anhui Province, China

Atmosphere ◽  
2019 ◽  
Vol 10 (1) ◽  
pp. 35 ◽  
Author(s):  
Haitao Dai ◽  
Dawei Ma ◽  
Renbin Zhu ◽  
Bowen Sun ◽  
Jun He
Keyword(s):  
Particulate Matter ◽  
Sulfur Dioxide ◽  
Nitrogen Oxides ◽  
River Basin ◽  
Power Plants ◽  
Air Pollutant ◽  
Control Measures ◽  
Pollutant Emissions ◽  
Huai River ◽  
The Impact

Anhui is one of the highest provincial emitters of air pollutants in China due to its large coal consumption in coal-fired plants. In this study, the total emissions of nitrogen oxides (NOx), sulfur dioxide (SO2) and particulate matter (PM) from coal-fired power plants in Anhui were investigated to assess the impact of control measures on the atmospheric emissions based upon continuous emission monitoring systems (CEMS). The total NOx, SO2 and PM emissions significantly decreased from 2013 to 2017 and they were estimated at 24.5 kt, 14.8 kt and 3.0 kt in 2017, respectively. The emission reductions of approximately 79.0%, 70.1% and 81.2% were achieved in 2017 compared with a 2013 baseline, respectively, due to the application of high-efficiency emission control measures, including the desulfurization, denitration and dust-removing devices and selective catalytic reduction (SCR). The NOx, SO2 and PM emission intensities were 0.125 g kWh−1, 0.076 g kWh−1 and 0.015 g kWh−1 in 2017, respectively, which were lower than the average of national coal-fired units. The coal-fired units with ≥600 MW generated 80.6% of the total electricity amount while they were estimated to account for 70.5% of total NOx, 70.1% of total SO2 and 71.9% of total PM. Their seasonal emissions showed a significant correlation to the power generation with the maximum correlation found in summer (July and August) and winter (January and December). The major regional contributors are the cities along the Huai River Basin and Yangtze River Basin, such as Huainan, Huaibei, Tongling, Maanshan and Wuhu, and the highest emission occurred in Huainan, accounting for approximately 26–40% of total emission from all the power plants. Our results indicated that the application of desulfurization, denitration and dust-removing devices has played an important role in controlling air pollutant emissions from coal-fired power plants.

scholarly journals An Interim Evaluation of Sulfur Dioxide Emissions Trading

1998 ◽  
Vol 12 (3) ◽  
pp. 53-68 ◽  
Author(s):  
Richard Schmalensee ◽  
Paul L Joskow ◽  
A. Denny Ellerman ◽  
Juan Pablo Montero ◽  
Elizabeth M Bailey
Keyword(s):  
Sulfur Dioxide ◽  
Acid Rain ◽  
Large Scale ◽  
Emissions Trading ◽  
Tradeable Permits ◽  
Abatement Costs ◽  
Sulfur Dioxide Emissions ◽  
Acid Rain Program ◽  
The U.S

This paper summarizes recent empirical research on compliance costs and strategies and on permit market performance under the U.S. acid rain program, the first large-scale, long-term program to use tradeable emissions permits to control pollution. An efficient market for emissions permits developed in a few years, and this program more than achieved its early goals on time, and it cost less than had been projected. Because of expectation errors, however, investment was excessive, and permit prices substantially understate abatement costs. The tradeable permits approach has worked well, but it is not a miracle cure for environmental problems. Coauthors are Paul L. Joskow, A. Denny Ellerman, Juan Pablo Montero, and Elizabeth M. Bailey.

scholarly journals Animal Spirits in the Beautiful Game. Testing social pressure in professional football during the COVID-19 lockdown

2020 ◽  
Author(s):  
Carlos Cueva
Keyword(s):  
Decision Making ◽  
Large Scale ◽  
Natural Experiment ◽  
Social Pressure ◽  
Professional Football ◽  
Large Dataset ◽  
Animal Spirits ◽  
Almost All ◽  
And Behavior ◽  
The Impact

The COVID-19 pandemic forced almost all professional football matches worlwide to be played in empty stadiums. This large-scale natural experiment offers a unique opportunity to assess the impact of social pressure on decision making and behavior. In particular, I investigate the effect of the home crowd on match outcomes and referee decisions. Using a large dataset from 41 professional football leagues in 30 different countries, I find that the home advantage in match outcomes drops by around one half and that referee bias against away teams completely disappears following the lockdowns. My results therefore suggest that social pressure exerted by home crowds has an important effect on the behavior of referees and on game outcomes.

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