Environmental regulation and renewable energy technology innovation: Firm-level evidence from China

This paper deploys a quasi-natural experiment formed by the implementation of China's New Environmental Protection Law (NEPL) and evaluates the impact of environmental regulation on renewable energy technology innovation (RETI). The findings indicate that the NEPL results in a substantial and robust increase in firm-level RETI. Further research show that this stimulus impact can be achieved by alleviating financing constraints and optimizing managerial levels. The effect appears more pronounced for state-owned enterprises, during the growth stage, and in regions with high marketization and high-income levels.

本文利用中国新环境保护法实施所形成的准自然实验，评估了环境规制对可再生能源技术创新的影响。研究结果表明，新环保法使得企业层面的可再生能源技术创新显著且稳健地增加。进一步研究显示，这种激励作用可通过缓解融资约束和优化管理水平来实现。对于国有企业、处于成长阶段的企业以及在市场化程度高和收入水平高的地区，这种影响更为显著。