补贴
政府(语言学)
业务
环境质量
质量(理念)
政策组合
中国
经济
公共经济学
自然资源经济学
产业组织
市场经济
宏观经济学
哲学
法学
认识论
语言学
政治学
作者
Yechi Ma,Yezhou Sha,Zilong Wang,Wenjing Zhang
出处
期刊:Energy Economics
[Elsevier BV]
日期:2023-01-10
卷期号:118: 106512-106512
被引量:64
标识
DOI:10.1016/j.eneco.2023.106512
摘要
We examine to what extent ‘policy mix’ of green credit policy and government subsidy affects high-quality environmental innovation of high-polluting firms. The green credit policy is a special environmental regulation that guides the distribution of credit from banks. Using the difference-in-difference method, we find that Green Credit Guidelines (GCGs) have a negative impact on the high-quality environmental innovation of high-polluting firms in China. However, the negative relationship between GCGs and high-quality environmental innovation depends on the level of government subsidy. Subsidies can effectively correct the negative impact of GCGs. The mechanism analysis shows that GCGs hinder high-quality environmental innovation through two channels: (1) increase in compliance costs and (2) lack of long-term bank credit that supports environmental innovation. Government subsidies can play a moderating role in the second channel.
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