Research on the Influence and Spatial Effect of Carbon Trading Market on Green Innovation Efficiency of Industrial Enterprises

Abstract

 Based on the panel data of 30 provinces and cities in China from 2005 to 2020, a two-stage value chain model of green innovation of Chinese industrial enterprises is constructed and the green innovation efficiency of industrial enterprises is measured, in which coastal cities such as Guangdong, Beijing, and Shanghai have the highest innovation efficiency, and inland cities such as Ningxia, Inner Mongolia, and Gansu have the lowest efficiency. On this basis, a spatial double difference model is applied to reveal the effect of carbon trading market policies on urban green innovation efficiency and its spatio-temporal heterogeneity. The results show that the carbon trading market policy significantly affects the green innovation efficiency of industrial enterprises, and at the same time, the level of economic development, the level of foreign investment, and the industrial structure of each province and city also have a positive effect on the green innovation efficiency. There is also a spatial spillover effect of the carbon trading market policy, which not only has a significant incentive effect on the green innovation efficiency of the pilot cities, but also has a positive promotion effect on the green innovation efficiency of the neighboring cities. At the same time, the support of provincial and municipal governments significantly affects the spillover effect of carbon market policies.