Does marine ecological compensation policy have improved marine carbon emission efficiency? Evidence from coastal areas in China.

Abstract

The marine ecological compensation (MEC) policy is a scheme for protecting and restoring marine ecology. The previous studies have verified that the policy has improved the marine environment, ignoring the comprehensive performance of the economy and environment. Is the MEC policy actually effective for reducing marine carbon emission considering resource input and economy output? To address the question, this paper evaluates the impact of MEC policy on marine carbon emission efficiency by introducing the multi-stage difference-in-difference with propensity score matching. The results show that the MEC policy significantly improves marine carbon emission efficiency, and the positive effects dynamically enhance over time. Low-carbon technology innovation is confirmed to play a mediating role by which the MEC policy improves marine carbon emission efficiency. Therefore, gradually popularizing the MEC policy and accelerating low-carbon technology innovation are crucial measures to improve marine carbon emission efficiency and achieve sustainable marine development.