Horizontal ecological compensation mechanism and technological progress: theory and empirical study of Xin’an River Ecological Compensation Gambling Agreement

Wang, Haisen; Yang, Gangqiang; Ouyang, Xiao; Tand, Ziyi; Long, Xiaohong; Yue, Ziyang

doi:10.1080/09640568.2021.1990030

Cited by 11 publications

(5 citation statements)

References 58 publications

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“…Governments need to invest in renewable energy to control environmental degradation (Batool et al, 2022). In the context of international turbulence and increasing uncertainty of economic policies, once the implementation effect of economic policies is different from the expected, the uncertainty of economic policies will bring about a very adverse impact on economic development (Wang et al, 2021). The destructive impact will affect the development and policy planning of energy, manufacturing, transportation, and so on, which is not conducive to the realization of the "two-carbon" goal.…”

Section: Economic Policy Uncertainty and Lowcarbon Economic Transitionmentioning

confidence: 99%

“…Environmental regulations inhibit technological innovation, and the implementation of carbon emission trading policies will significantly reduce enterprise innovation (Feng et al, 2017). Further, Wang concluded through empirical tests that the Xin'an River Ecological Compensation Bet Agreement (ECGA) inhibited the technological progress of upstream industrial enterprises, especially the heavily polluting enterprises (Wang et al, 2021). The third is the uncertainty theory.…”

Section: Low-carbon Economic Transition and Enterprise Innovationmentioning

confidence: 99%

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The time-varying effects of economic policy uncertainty and low-carbon economic transition on enterprise innovation in China

Zhang

Shao

Wang

2023

Front. Environ. Sci.

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With the increasing concern of all sectors of society about climate change, enterprises have become an important subject to undertake environmental protection. At the same time, enterprises have to seek survival and development under the background of economic policy uncertainty. Therefore, companies need to not only fulfill their environmental responsibilities but also find ways to respond to changes in economic policies through innovation. In the study, a three-variable time-varying vector autoregressive (TVP-VAR) model with stochastic volatility was used to investigate the nonlinear dynamic effects of economic policy uncertainty and low-carbon economic transition on enterprise innovation in China. It is found that the influence of economic policy uncertainty on enterprise innovation is time-varying and asymmetrical, especially with the 2008 financial crisis as the turning point. After the financial crisis, the positive impact of economic policy uncertainty on enterprises has been weakening, and in 2015, the positive impact turned into a negative impact. In general, economic policy uncertainty is not conducive to the transition to low-carbon economic transition, and with the outbreak of the financial crisis in 2008, the negative impact reached a negative peak. The low-carbon economic transition has a significant crowding-out effect on enterprise innovation, while enterprise innovation has a significant spillover effect on low-carbon economic transition. The conclusion can provide the scientific basis for enterprises to adapt to the change in the economic environment to complete low-carbon economic transition and formulate innovation strategies, which is conducive to the sustainable development of the ecological environment and economic society.

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Section: Economic Policy Uncertainty and Lowcarbon Economic Transitionmentioning

confidence: 99%

Section: Low-carbon Economic Transition and Enterprise Innovationmentioning

confidence: 99%

The time-varying effects of economic policy uncertainty and low-carbon economic transition on enterprise innovation in China

Zhang

Shao

Wang

2023

Front. Environ. Sci.

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“…The second view is the "disincentive hypothesis" of neoclassical economics, which suggests that environmental regulations inhibit firm TFP. The "compliance cost effect" of environmental taxes increases the burden on enterprises and has a crowding-out effect on R&D investment and technological innovation, and, thus, enterprise TFP declines [57]. Hancevic (2016) also argued that, under strict environmental regulations, enterprises tend to spend more money on unproductive activities, such as the purchase of environmental protection equipment [58].…”

Section: Theoretical Analysis and Research Hypothesismentioning

confidence: 99%

“…By purchasing special water-saving equipment, improving production technology, and optimizing resource allocations, high water-consuming enterprises can flexibly choose countermeasures that improve production efficiency. This may reduce the cost of production water and ultimately slow or offset the pressure on operating costs created by the shift in water resource policy from a fee to a tax [57].…”

Section: Medeiros Et Al (2018) Argued That a Non-linear Relationship ...mentioning

confidence: 99%

Does the Water Resource Tax Reform Bring Positive Effects to Green Innovation and Productivity in High Water-Consuming Enterprises?

Xu,

Gao,

Hua

et al. 2024

Water

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Water resources are a fundamental natural and strategic economic resource and are closely related to high-quality economic and societal development. This paper uses the pilot implementation of the water resource tax reform to explore the impact of that reform on the green innovation and total factor productivity of enterprises. The study sample includes data for high water-consuming A-share listed enterprises in Shenzhen and Shanghai, China, from 2007 to 2021; the double-difference method was used for the analysis. Study findings indicate that replacing water resource fees with taxes significantly improves the green innovation level and total factor productivity of enterprises. Green innovation has a significant partial mediating effect between the water resource tax reform and total factor productivity. The water resource tax reform promotes green innovation in enterprises, enhancing total factor productivity. When considering different types of enterprise property rights, the economic effect of the water resource tax reform is more pronounced in non-state-owned enterprises, compared to state-owned enterprises. This paper provides empirical evidence for expanding the pilot scope of the water resource tax reform.

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“…Therefore, it is urgent to promote a horizontal ecological compensation mechanism in the upper and lower reaches of the Yellow River Basin and carry out cross-regional joint prevention and governance [12,48]. Domestic research on the basin ecological compensation mechanism has mostly focused on the construction of a single vertical ecological compensation [49] or horizontal ecological compensation mechanism between governments at the same level [50,51]; there is little research on the collaborative construction of a basin ecological compensation mechanism by higher-level governments and upstream and downstream governments. Many studies on the single compensation mechanism show that the effect of vertical ecological compensation on watershed ecological governance is more significant in the short term.…”

Section: Introductionmentioning

confidence: 99%

Study on Influencing Factors and Simulation of Watershed Ecological Compensation Based on Evolutionary Game

Wang

et al. 2022

Sustainability

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In the practice of watershed ecological compensation, due to the inconsistency between the interests of economic development and the objectives of ecological protection, there are typical game characteristics among the relevant stakeholders. Taking the ecological compensation between Henan and Shaanxi in the Yellow River Basin as an example, this paper constructs an evolutionary game model, obtains the external conditions for various stakeholders to achieve stable cooperation from the perspective of the government, and demonstrates the necessity of combining vertical and horizontal ecological compensation. The sensitivity of each party’s decision making to key elements is analyzed through a simulation. The results show that: (1) the optimal strategy is mainly affected by the initial willingness of the upstream government and the central government; the strong regulatory power of the central government can eliminate the influence of the initial will; (2) development opportunity costs and vertical fiscal transfer payments have the most obvious influence on upstream government decision-making; (3) the effect on optimal decision state of downstream paying upstream ecological compensation is higher than that of upstream paying downstream ecological compensation; (4) the punishment of the central government should ensure the binding force on the lower governments, and the revenue and expenditure under its supervision strategy should ensure the effectiveness of the supervision public power. The above conclusions provide support for improving the ecological compensation mechanism of transboundary basins.

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Horizontal ecological compensation mechanism and technological progress: theory and empirical study of Xin’an River Ecological Compensation Gambling Agreement

Cited by 11 publications

References 58 publications

The time-varying effects of economic policy uncertainty and low-carbon economic transition on enterprise innovation in China

The time-varying effects of economic policy uncertainty and low-carbon economic transition on enterprise innovation in China

Does the Water Resource Tax Reform Bring Positive Effects to Green Innovation and Productivity in High Water-Consuming Enterprises?

Study on Influencing Factors and Simulation of Watershed Ecological Compensation Based on Evolutionary Game

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