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Do Emission Trading and Subsidies for Clean-technology R&D Improve the Level of Clean-technology Innovation?Evidence from the Pilot Provinces of Industrial SO2 Emission Trading
Pages: 79-90
Year: Issue:  5
Journal: Journal of Shanghai University of Finance and Economics

Keyword:  emission tradingclean-technology R&D subsidytechnical change;
Abstract: The existing environment regulation in China places emphasis on the intervention on the enterprises as the demanders of clean-technology,but neglects the guidance of clean-technology R&D. This paper combines emission trading playing a role in enterprises with subsidies for clean-technology R&D guiding R&D directions,and constructs a theory model to explore whether the combination of these two is conducive to the improvement of cleantechnology level. Then it uses the data from pilot provinces of industrial SO2 emission trading to empirically test the theory model. It arrives at the conclusions as follows:firstly,industrial SO2 emission trading elevates the clean-technological innovation level in pilot provinces,which is in consistent with the conclusions of the theory model;secondly,emission trading policy in pilot provinces cannot result in emissions reduction,which is out of accord with the conclusions of the theory model;thirdly,only a combination of subsidies for clean-technology R&D and emission trading can exert the policy effects fully;fourthly,the subsidies for clean-technology R&D have the double-level threshold effect on corresponding R&D input and as for subsidies,it is really not the more,the better. Therefore,in order to improve clean-technology innovation level in China,governments should pay attention to environmental regulation matching and control the subsidy strength properly.
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