Abstract
The “New Normal” of Chinese economy represents the importance of economic performance. To analyze the provincial performance of the low-carbon economy in China, this paper constructed a three-stage dynamic Malmquist model considering the evolutionary promotion of productivity and technical progress. This paper incorporates the lag effect of capital accumulation into the performance evaluation to ensure transitivity and continuity. Furthermore, the inefficiency of the low-carbon economy arises from the disadvantages of resources endowments; therefore, it is necessary to eliminate these to evaluate managerial performance. This paper not only evaluates the provincial performance of the low-carbon economy but also suggests the sources and impetus of regional low-carbon economy development to find feasible transition paths. The empirical results reveal that the performance of the low-carbon economy presents a gradient distribution with obvious distinctions among the eastern, central, and western regions. Tianjin and Hebei should emphasize the optimal allocation of their own resources. Jiangxi and Hunan, by contrast, should focus on the perfection of the resources endowments.
Highlights
The economic development model in China is stepping into the “New Normal” economy
The low-carbon economy performance is analyzed based on time-series (Figure 1), and the results indicate a fluctuant rising trend, especially at the stage 2006–2014 (TFP2006 = 1, TFP2010 = 1.0407, TFP2014 = 1.1996)
Considering the “new normal” macroeconomic background, the resource endowment influence restrained the increase of the low-carbon economy performance
Summary
The economic development model in China is stepping into the “New Normal” economy. The characteristics of “New Normal” are economic slowdown with increasing efficiency, structural optimization with upgrading, and efficient resource allocation. During the period 1997–2014, the economic growth in China was 9.5% with an 8.8% increase in carbon emissions. These data indicate that the economic model is of high-energy expenditure with a dual economy background. Each region’s low-carbon economic performance is influenced by its resource endowments and the stage of its economic development. This paper calculates the performance of regional low-carbon economies, but suggests the sources and impetus underlying their development to find feasible transition paths. This paper investigates the managerial performance of the low-carbon economy to eliminate the regional resource endowments influences and their own economic stage. This study has practical implications; the findings may provide decision makers with an increased understanding of the optimal mechanisms and managerial technical level for improving low-carbon economies
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