The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID

Identifying the policy effect of Energy-Consuming Right Trading (ECRT), clarifying its mechanism of energy conservation and consumption reduction, is beneficial to realize the win–win situation of economic growth and emission reduction in China. This study first builds a Propensity Score Matching–Di...

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Autores principales:	Zhong Wang, Mingyu Wu, Shixiang Li, Changji Wang
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	energy-consuming right trading energy intensity policy tools Propensity Score Matching-Difference-in-Differences Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/97cc50ce18ab43549298dc60e3b35fa9
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spelling	oai:doaj.org-article:97cc50ce18ab43549298dc60e3b35fa92021-11-11T19:22:16ZThe Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID10.3390/su1321116122071-1050https://doaj.org/article/97cc50ce18ab43549298dc60e3b35fa92021-10-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/11612https://doaj.org/toc/2071-1050Identifying the policy effect of Energy-Consuming Right Trading (ECRT), clarifying its mechanism of energy conservation and consumption reduction, is beneficial to realize the win–win situation of economic growth and emission reduction in China. This study first builds a Propensity Score Matching–Difference-in-Differences (PSM-DID) model and empirically tests the impact of Energy-Consuming Right Trading policy on energy intensity in pilot areas based on inter-provincial panel data from 2010 to 2019. Then the policy mechanism was analyzed by further regression, and the spatial effects of the policy were explored by the Spatial Difference-in-Differences (SDID) model. The results show that: (1) The policy can reduce energy intensity by 6.4% to 10.2% in the pilot area. (2) The policy mainly achieves energy consumption reduction by optimizing the industrial structure and promoting scientific and technological input, while the resource tax intensity and the proportion of coal consumption also have synergistic and hindering effects on the policy. (3) There is a significant spatial spillover effect of the policy; it can reduce the energy intensity of the adjacent areas of the pilot by 5.3% and the areas with a high economic association with the pilot by 12%. The conclusion is that China’s Energy-Consuming Right Trading policy can effectively control energy consumption, and the policy shows an excellent positive external effect, worth nationwide implementation. Finally, some policy suggestions are put forward according to the results of the empirical analysis.Zhong WangMingyu WuShixiang LiChangji WangMDPI AGarticleenergy-consuming right tradingenergy intensitypolicy toolsPropensity Score Matching-Difference-in-DifferencesEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 11612, p 11612 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	energy-consuming right trading energy intensity policy tools Propensity Score Matching-Difference-in-Differences Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	energy-consuming right trading energy intensity policy tools Propensity Score Matching-Difference-in-Differences Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Zhong Wang Mingyu Wu Shixiang Li Changji Wang The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID
description	Identifying the policy effect of Energy-Consuming Right Trading (ECRT), clarifying its mechanism of energy conservation and consumption reduction, is beneficial to realize the win–win situation of economic growth and emission reduction in China. This study first builds a Propensity Score Matching–Difference-in-Differences (PSM-DID) model and empirically tests the impact of Energy-Consuming Right Trading policy on energy intensity in pilot areas based on inter-provincial panel data from 2010 to 2019. Then the policy mechanism was analyzed by further regression, and the spatial effects of the policy were explored by the Spatial Difference-in-Differences (SDID) model. The results show that: (1) The policy can reduce energy intensity by 6.4% to 10.2% in the pilot area. (2) The policy mainly achieves energy consumption reduction by optimizing the industrial structure and promoting scientific and technological input, while the resource tax intensity and the proportion of coal consumption also have synergistic and hindering effects on the policy. (3) There is a significant spatial spillover effect of the policy; it can reduce the energy intensity of the adjacent areas of the pilot by 5.3% and the areas with a high economic association with the pilot by 12%. The conclusion is that China’s Energy-Consuming Right Trading policy can effectively control energy consumption, and the policy shows an excellent positive external effect, worth nationwide implementation. Finally, some policy suggestions are put forward according to the results of the empirical analysis.
format	article
author	Zhong Wang Mingyu Wu Shixiang Li Changji Wang
author_facet	Zhong Wang Mingyu Wu Shixiang Li Changji Wang
author_sort	Zhong Wang
title	The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID
title_short	The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID
title_full	The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID
title_fullStr	The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID
title_full_unstemmed	The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID
title_sort	effect evaluation of china’s energy-consuming right trading policy: empirical analysis based on psm-did
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/97cc50ce18ab43549298dc60e3b35fa9
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The Effect Evaluation of China’s Energy-Consuming Right Trading Policy: Empirical Analysis Based on PSM-DID

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