Green innovation effect of green fiscal demonstration policy: From the perspective of multiple pressure constraints
Year: 2024
Type: article
Abstract: It is a characteristic innovation of China's fiscal environmental governance to leverage local supporting facilities and enterprise capital investment with project demonstration and form local environmental governance forces. Taking the national comprehensive demonstration city of energy saving and emission reduction fiscal policy as the natural experiment, the green innovation effect and multiple pressure constraint mechanism of green fiscal demonstration policy were investigated by using the Difference-in-Difference (DID) method. The results showed that: (1) The construction of demonstration cities significantly promoted the innovation of urban green technology, showing the "leverage" effect of green fiscal demonstration policy. (2) The green fiscal demonstration policy can optimize the incentive behavior of local governments in environmental governance, and promote green technology innovation through mechanisms such as emphasizing the environmental importance of local governments, increasing local supporting environmental protection financial funds and strengthening environmental regulation. (3) From the perspective of multiple pressure constraints faced by local governments, financial pressure and official promotion and assessment pressure weaken the incentive effect of green fiscal demonstration policy, while public demand pressure helps to strengthen the effect of policy. (4) The model policy has a stronger incentive effect on green innovation in areas with higher fiscal transparency and cities with non-resource-based and old industrial bases. The research results have certain reference significance for optimizing green fiscal demonstration policy in the New Era, promoting the construction of green finance coordination mechanism compatible with local finance, and promoting the realization of "double carbon" goal and high-quality development.
Source: 自然资源学报
Authors: Bing-rong LIU, Zhi-hong SUN, Kui FU, Jin-hua LIU
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4402242825