Abstract
Resource tax is an important means to regulate energy consumption. Recent years, in order to alleviate the structural contradiction of supply and demand of energy in our country, the resource tax rate was adjusted repeatedly. This paper introduced energy factor into the production function model, using 2003-2011 industry panel data to estimate the degree of influence of the adjustment of the resource tax rate to the factor input structure and the production efficiency of resource consuming industries. Through empirical research, the following conclusions can be drawn: 1) The increasing resource tax accounted for the proportion of the total tax will prompt the resource consumption industries for re-allocation of production factors and capital and human resources elements will replace energy factor. This is conducive to optimize the structure of production factors, so as to promote the industry to improve production efficiency. 2) In high energy consumption industry, the substitution effect of capital factor on energy factor is more significant than the substitution effect of labor factor on energy factor; however, in low energy consumption industry, the substitution effect of labor on energy factor is more significant than capital elements’ substitution effect. 3) Compared with non-resource production industry, the impact of increasing the rate of resource tax on resource production industry mainly occurs as the alternative of labor actor for energy actor, and the substitution effect of capital is not significant.
Highlights
This paper introduced energy factor into the production function model, using 2003-2011 industry panel data to estimate the degree of influence of the adjustment of the resource tax rate to the factor input structure and the production efficiency of resource consuming industries
The results show that the adjustment of resource tax can optimize the organization structure of production factors and improve production efficiency
Carbon emissions are the general name of greenhouse gas emissions, because carbon dioxide is the main component of greenhouse gases, we usually refer to as carbon emissions refers to carbon dioxide emissions
Summary
As the mainstream scientific community's concern about the warming effect of carbon emissions has stimulated global political response to global warming, carbon emissions have evolved from scientific issues to economic and political issues In this context, in 1997, the Kyoto Protocol aimed at limiting greenhouse gas emissions in developed countries to curb global warming was recognized and quickly implemented by 39 OECD countries. If any country cannot complete the emission reduction commitments, it will be subject to relevant economic sanctions This protocol fully reflects that the international community has put high attention and made unremitting efforts on global warming. In 2010 China implemented the oil and gas resources tax reform pilot and the way of tax levied change from the amount on volume method to ad valorem method at the rate of 5%.
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