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Does the carbon emission trading pilot policy promote green innovation cooperation? Evidence from a quasi-natural experiment in China

Author

Listed:
  • Peng Xiaobao

    (University of Science and Technology of China)

  • Wu Jian

    (Fudan University)

  • Chen Yuhui

    (University of Science and Technology of China)

  • Sumran Ali

    (University of Science and Technology of China)

  • Xie Qijun

    (Tsinghua University)

Abstract

Green and low carbon transition is a broad and profound economic and social systematic change. Green innovation is a critical way to promote energy saving and emission reduction. Has China continuously promoted a carbon emission trading policy to significantly promote green innovation cooperation? Taking the implementation of the carbon emission trading pilot policy as a “quasi-natural experiment,” this study answers this question by exploring the impact of the policy on green innovation cooperation. Based on data on 274 cities from 2008 to 2020, the multi-time difference-in-differences model is used to evaluate the impact of the policy on green innovation cooperation. The results reveal that the carbon emission trading pilot policy significantly improved inter- and intra-city green innovation cooperation through the upgrading effect of industrial structure and the coverage effect of digital finance compared with the non-pilot cities at the city level. In addition, there are significant differences in the policy effects among cities with different degrees of openness to the outside world and command-and-control environmental regulation.

Suggested Citation

  • Peng Xiaobao & Wu Jian & Chen Yuhui & Sumran Ali & Xie Qijun, 2024. "Does the carbon emission trading pilot policy promote green innovation cooperation? Evidence from a quasi-natural experiment in China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-24, December.
    • Handle: RePEc:spr:fininn:v:10:y:2024:i:1:d:10.1186_s40854-023-00556-5
    DOI: 10.1186/s40854-023-00556-5
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