Abstract
As green growth has attracted a great deal of attention due to the growing concern about the degradation of natural resources and environmental pollution in China, the questions of how to achieve it and which factors drive green growth have become hot topics. Environmental regulation and technological innovation are two main fulcrums in the realization of green growth. However, there is lacking a deeper understanding of the impact of environmental regulation and technological innovation on green growth in a methodological framework. Accordingly, this paper attempts to analyze how these factors affect the implementation of green growth in a model. The findings reveal that (1) in the short term, environmental regulation has inhibited green growth, but has a positive impact on green growth in the long run, (2) technological innovation plays a positive role in green growth improvement, and (3) the causality chain among regulation, technological innovation, and green growth is a typical mediation model. Technological innovation plays an important mediation role in the causal chain. This study not only enriches and deepens theories on green growth, but also successfully implements green growth practices and improve their performance.
Highlights
China has achieved phenomenal growth rates since 1978's reform and opening-up
Under the unified analysis framework, this paper aims to contribute to the nascent literature in green growth practices by examining the interactive effects of environmental regulation and technological innovation on green growth performance
2.1 Environmental regulation and green growth performance As resources and the environment are public goods, there are some limitations to using market mechanisms to solve environmental problems
Summary
As the world's largest developing country, China planned to push the urbanization process as early as 2012, so that to stimulate the economic growth and avoid the middle-income trap. Due to the traditional extensive mode of economic growth, the problems of resource depletion and environmental pollution become more and more serious. With the ever-increasing aggravation in resource depletion and environmental pollution, the consensus to transform the original traditional extensive growth mode was reached. Many developing countries have long considered environmental protection costly and worried that sustainable development might curtail their growth rates. New economic growth theory holds that independent research and development can create and accumulate knowledge, promote both products and technical progress, and process innovation, thereby providing a steady stream of motivation and support for sustainable. Under the unified analysis framework, this paper aims to contribute to the nascent literature in green growth practices by examining the interactive effects of environmental regulation and technological innovation on green growth performance
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