碳交易与企业生产力:来自中国石化企业的证据  

Carbon trading and enterprise productivity:Evidence from China’s petrochemical enterprises

作　　者：梅应丹 邓雅芮 马婷 MEI Ying-dan;DENG Ya-rui;MA Ting(School of Economics and Management,China University of Petroleum Beijing,Beijing 102249,China;Economic Forecast Department of the State Information Center,Beijing 100045,China)

机构地区：[1]中国石油大学(北京)经济管理学院,北京102249 [2]国家信息中心经济预测部,北京100045

出　　处：《中国环境科学》2023年第5期2583-2589,共7页China Environmental Science

基　　金：国家自然科学基金资助项目(71703166);中国石油集团国家高端智库研究中心项目(2022-LA-18)。

摘　　要：基于2008~2020年中国A股上市石化企业数据,采用广义精确匹配方法和双重差分模型从微观层面实证了碳排放权交易制度对石化企业全要素生产率的影响及作用机制.结果显示:第一,处在公告阶段(2011~2012年)和交易阶段(2013~2020年)的碳排放权交易制度分别会提高和降低石化企业全要素生产率.第二,碳交易提高了石化企业融资难度且并未激发技术创新效应,但可以提高资源配置效率.第三,碳排放权交易制度对石化企业全要素生产率的负向影响是短期的,因此中国碳市场从长期看有助于实现石化企业经济和环境的双赢.The paper uses the Coarsened Exact Matching and Difference-in-Difference methods to examine the effects and mechanisms of China's carbon emission trading on the total factor productivity of petrochemical enterprises,based on the data from China's A-share listed petrochemical enterprises between 2008 to 2020.The estimated results indicate that the carbon emission trading improves the total factor productivity at the announcement stage(2011~2012)while reduces the total factor productivity at trading stage(2013~2020).Secondly,the carbon emission trading increases the financing difficulty for petrochemical enterprises,and fails to stimulate technological innovation,but improves the resource allocation efficiency.Thirdly,the negative impact of the carbon emission trading scheme on the total factor productivity of petrochemical enterprises is short-term,and thus China's carbon market will help to achieve a win-win solution for petrochemical enterprises'economic growth and environmental protection in the long run.

关 键 词：碳排放权交易 全要素生产率 石化企业 双重差分模型 广义精确匹配 

分 类 号：X22[环境科学与工程—环境科学]