[Evaluation of Dual Emission Control Effects and Green Innovation Mechanisms: Evidence Based on the Construction of Free Trade Pilot Zones].

Abstract

With the replication and promotion of the experience of pilot reform and innovation, as well as the continuous deepening of institutional openness, exploring green and low-carbon models has become an important measure for the country to promote the high-quality development of free trade pilot zones. This study focused on the core task of institutional innovation in free trade pilot zones, measured and quantified the level of green investment liberalization and green trade facilitation in each region, and explored the carbon emission dual control effect of free trade pilot zones using cutting-edge methods, such as group period average processing effect estimation （CATT）, imputation, and stacked DID. The research conclusions were as follows： ① The phased establishment of free trade pilot zones reduced the total carbon emissions by 27.40% and the carbon emission intensity by 14.30%. ② The pilot free trade zone achieved dual carbon emission control through the spillover effect of green innovation from foreign investment, the direct effect of green innovation from local enterprises, and the indirect effect of green innovation from digital trade. The comprehensive implementation of the negative list of market access, the signing and implementation of free trade agreements between China and other countries, and the increase of international green trade barriers have all had a significant positive regulatory effect on the dual control of carbon emissions in free trade pilot zones. The dual control effect of carbon emissions in the free trade pilot zone exhibited significant spatial spillover characteristics, showing maximum efficiency within a radius of 550 km, resulting in a reduction of 18.30% in the total carbon emissions of surrounding cities and a decrease of 10.10% in carbon emission intensity. Heterogeneity analysis showed that regions with higher levels of institutional innovation and government function transformation had a 13.10% and 13.70% higher total carbon emission control effect compared to that of regions with lower levels and a 8.40% and 3.40% higher carbon emission intensity control effect, respectively. The total carbon emission control effect of cities along the "Belt and Road" was 9.60% higher than that of cities not along the line, and the carbon emission intensity was 8.80% higher. The total carbon emission control effect of cities that had opened the China Europe freight train was 16.80% higher than that of cities that had not opened it, and the carbon emission intensity was 7.50% higher. In terms of aligning with international economic and trade rules and achieving high-quality development, the free trade pilot zone should focus on the green and low-carbon qualification review of newly registered foreign-funded enterprises entering and the first attempt to break through technical barriers to green trade, to help carbon emission dual control process of China with high-level openness and coordination.