Energy quota trading policy and energy efficiency: The role of government supervision and public participation

IF 12.9 1区管理学 Q1 BUSINESS Technological Forecasting and Social Change Pub Date : 2024-06-29 DOI:10.1016/j.techfore.2024.123565

Ge Li , Xiaoyu Wang

{"title":"Energy quota trading policy and energy efficiency: The role of government supervision and public participation","authors":"Ge Li , Xiaoyu Wang","doi":"10.1016/j.techfore.2024.123565","DOIUrl":null,"url":null,"abstract":"<div><p>Unlike carbon emissions trading based on end-of-pipe regulation, the Energy Quota Trading (EQT) policy represents a market-oriented environmental regulation rooted in source control. However, its effectiveness on energy efficiency remains to be scrutinized. Using the panel data of 269 cities in China from 2011 to 2021, we employ the difference-in-differences method to examine whether and how the EQT policy impacts energy efficiency. Our results reveal that the EQT policy can significantly enhance green total factor energy efficiency. Mechanism analysis indicates that this promotion is primarily achieved by fostering green technology innovation and facilitating industrial structure upgrading. Further investigations explore the moderating role of external supervision, demonstrating that government supervision and public participation can amplify the EQT policy's efficacy in promoting energy efficiency. This underscores the complementary role of governmental and public in bolstering the utility of market-oriented incentives. Additionally, we identify significant heterogeneity in EQT policy effects across cities with varying geographical locations and development strategies. Our research offers critical insights into the adoption of source-control environmental regulations for developing countries.</p></div>","PeriodicalId":48454,"journal":{"name":"Technological Forecasting and Social Change","volume":null,"pages":null},"PeriodicalIF":12.9000,"publicationDate":"2024-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Technological Forecasting and Social Change","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0040162524003615","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}

引用次数: 0

Abstract

Unlike carbon emissions trading based on end-of-pipe regulation, the Energy Quota Trading (EQT) policy represents a market-oriented environmental regulation rooted in source control. However, its effectiveness on energy efficiency remains to be scrutinized. Using the panel data of 269 cities in China from 2011 to 2021, we employ the difference-in-differences method to examine whether and how the EQT policy impacts energy efficiency. Our results reveal that the EQT policy can significantly enhance green total factor energy efficiency. Mechanism analysis indicates that this promotion is primarily achieved by fostering green technology innovation and facilitating industrial structure upgrading. Further investigations explore the moderating role of external supervision, demonstrating that government supervision and public participation can amplify the EQT policy's efficacy in promoting energy efficiency. This underscores the complementary role of governmental and public in bolstering the utility of market-oriented incentives. Additionally, we identify significant heterogeneity in EQT policy effects across cities with varying geographical locations and development strategies. Our research offers critical insights into the adoption of source-control environmental regulations for developing countries.

查看原文

微信好友朋友圈 QQ好友复制链接

本刊更多论文

能源配额交易政策与能源效率：政府监督和公众参与的作用

与基于末端监管的碳排放交易不同，能源配额交易（EQT）政策是以源头控制为基础的市场导向型环境监管。然而，该政策对能源效率的影响还有待进一步研究。利用 2011 年至 2021 年中国 269 个城市的面板数据，我们采用差分法研究了 EQT 政策是否以及如何影响能源效率。结果表明，EQT 政策能显著提高绿色全要素能源效率。机理分析表明，这种提升主要是通过促进绿色技术创新和推动产业结构升级来实现的。进一步的研究探讨了外部监督的调节作用，表明政府监督和公众参与可以放大 EQT 政策在促进能效方面的功效。这凸显了政府和公众在增强市场导向激励机制效用方面的互补作用。此外，我们还发现不同地理位置和发展战略的城市在 EQT 政策效果方面存在显著的异质性。我们的研究为发展中国家采用源头控制环境法规提供了重要启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文去求助

来源期刊

Technological Forecasting and Social Change Multiple-

CiteScore

21.30

自引率

10.80%

发文量

813

期刊介绍： Technological Forecasting and Social Change is a prominent platform for individuals engaged in the methodology and application of technological forecasting and future studies as planning tools, exploring the interconnectedness of social, environmental, and technological factors. In addition to serving as a key forum for these discussions, we offer numerous benefits for authors, including complimentary PDFs, a generous copyright policy, exclusive discounts on Elsevier publications, and more.