Carbon Intensity and Green Transition in the Chinese Manufacturing Industry
Abstract
:1. Introduction
2. Hypotheses
2.1. The Impact of Carbon Emissions on Green Transition
2.2. Provincial Heterogeneity
2.3. Intermediary Effect of Financial Performance
3. Research Design and Data
3.1. Regression Models
3.1.1. Benchmark Regression Models
3.1.2. Mechanism Test Models
3.1.3. Further Test of Threshold Effects
3.1.4. Dynamic Test
3.2. Variables
3.3. Data
4. Results and Analysis
4.1. Regression Results
4.1.1. Descriptive Analysis
4.1.2. Benchmark Regression Results
4.1.3. Provincial Heterogeneity
4.2. Mechanism Test Results
4.3. Dynamic Test Results
5. Discussion
6. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Dependent Variable | First Level | Second Level |
---|---|---|
Green upgrading | Manufacturing performance | Gross production in manufacturing sector |
Rate of total assets to employees in manufacturing sector | ||
Fiscal revenue per capita on average | ||
Manufacturing ecosystem | Gross production per volume of waste water discharge | |
Gross production per volume of solid waste discharge | ||
The green patient rate | ||
Green sustainability | The rate of R&D employees to total employees in manufacturing sector | |
The rate of R&D expenditure to total fiscal expenditure | ||
The rate of the government expenditure to the national GDP |
Variable | Obs | Mean | Std. | Min | Max |
---|---|---|---|---|---|
upgrading | 360 | 3266.235 | 3134.759 | 442.836 | 17,674.750 |
CE | 360 | 2.710 | 1.626 | 0.792 | 9.340 |
FDI | 360 | 0.023 | 0.020 | 0.000 | 0.108 |
AIS | 360 | 1.098 | 0.615 | 0.519 | 4.165 |
EI | 360 | 0.415 | 0.151 | 0.073 | 0.689 |
urban | 360 | 0.559 | 0.130 | 0.336 | 0.893 |
Gfin | 360 | 0.169 | 0.099 | 0.060 | 0.692 |
PG | 360 | 0.014 | 0.007 | 0.004 | 0.038 |
TL | 360 | 0.376 | 0.088 | 0.120 | 0.526 |
Ileve | 360 | 0.752 | 0.243 | 0.237 | 1.371 |
IL | 360 | 8.461 | 10.492 | 0.445 | 49.262 |
market | 360 | 0.335 | 0.231 | 0.035 | 2.093 |
FDev | 360 | 0.061 | 0.031 | 0.014 | 0.185 |
Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
---|---|---|---|---|---|---|---|
OLS | GLS | FE | Eastern | Central | Western | ||
Upgrading | Upgrading | Upgrading | Upgrading | Upgrading | Upgrading | ||
CE | −0.255 *** | −0.308 *** | −0.152 ** | −0.145 * | 0.389 | −0.524 *** | −0.163 ** |
(−10.989) | (−3.826) | (−2.399) | (−1.790) | (1.495) | (−3.480) | (−2.191) | |
CE2 | 0.032 *** | 0.011 ** | 0.014 ** | −0.031 | 0.050 ** | 0.017 ** | |
(3.933) | (2.269) | (2.167) | (−1.259) | (2.224) | (2.484) | ||
FDI | 1.905 | 3.110 *** | 3.160 *** | −0.554 | −1.143 | 21.827 *** | |
(1.193) | (3.300) | (2.699) | (−0.267) | (−0.327) | (4.263) | ||
AIS | −1.042 *** | −0.043 | −0.078 | 0.215 | −0.246 | −0.788 ** | |
(−5.849) | (−0.512) | (−0.747) | (0.988) | (−1.394) | (−2.029) | ||
EI | 1.054 *** | −0.307 | −0.153 | −0.380 | 1.274 *** | −0.236 | |
(4.501) | (−1.306) | (−0.521) | (−0.413) | (4.735) | (−0.726) | ||
Gfin | 8.157 *** | −1.380 ** | −0.778 | 1.064 | 4.000 ** | 3.552 | |
(8.094) | (−2.419) | (−1.061) | (0.856) | (2.199) | (1.399) | ||
PG | −15.260 *** | 0.420 | −0.546 | 6.257 | −14.539 *** | −3.913 | |
(−2.839) | (0.192) | (−0.205) | (1.233) | (−2.869) | (−0.642) | ||
TL | −1.817 * | 1.302 *** | 1.040 ** | −0.740 | 2.220 *** | −3.492 ** | |
(−1.947) | (3.201) | (2.060) | (−0.716) | (2.778) | (−2.209) | ||
Ileve | 0.511 *** | 0.391 *** | 0.459 *** | 1.345 *** | 0.271 | −1.050 *** | |
(3.162) | (4.706) | (4.458) | (5.581) | (1.459) | (−3.975) | ||
IL | 0.007 | 0.003 | 0.000 | −0.003 | 0.014 | 0.012 | |
(1.195) | (1.004) | (0.175) | (−0.591) | (0.874) | (0.576) | ||
_cons | 8.433 *** | 7.994 *** | 6.787 *** | 7.471 *** | 6.700 *** | 6.882 *** | 9.841 *** |
(114.843) | (14.624) | (24.441) | (21.495) | (7.874) | (12.361) | (10.148) | |
Year | Yes | Yes | Yes | Yes | Yes | ||
Province | Yes | Yes | Yes | Yes | Yes | ||
F values | 186.810 | 7.900 | |||||
N | 360 | 360 | 360 | 360 | 144 | 108 | 108 |
R2 | 0.252 | 0.587 | 0.968 | 0.951 | 0.928 | 0.913 | 0.847 |
(1) | (2) | (3) | (4) | (5) | (6) | |
---|---|---|---|---|---|---|
FE Upgrading | FDev | Upgrading | GMM Upgrading | FDev | Upgrading | |
CE | −0.547 *** | −0.009 *** | −0.630 *** | −0.087 *** | −0.006 *** | −0.095 *** |
(−8.540) | (−3.511) | (−10.376) | (−3.121) | (3.556) | (9.787) | |
CE2 | 0.047 *** | 0.001 *** | 0.056 *** | 0.010 *** | 0.001 *** | 0.011 *** |
(7.421) | (3.978) | (9.331) | (3.863) | |||
FDev | −9.498 *** | −1.093 * | ||||
(−7.280) | (−1.812) | |||||
upgrading−1 | 0.939 *** | −0.005 *** | 0.934 *** | |||
(52.113) | (−9.003) | (51.181) | ||||
FDI | 4.182 *** | 0.011 | 4.283 *** | 0.040 | 0.020 | 0.053 |
(3.387) | (0.222) | (3.726) | (0.074) | (1.264) | (0.099) | |
AIS | −0.739 *** | 0.023 *** | −0.521 *** | −0.110 * | 0.010 *** | −0.098 |
(−5.267) | (4.223) | (−3.885) | (−1.727) | (5.368) | (−1.525) | |
EI | 0.937 *** | 0.025 *** | 1.175 *** | 0.120 | 0.047 *** | 0.158 * |
(5.189) | (3.571) | (6.859) | (1.396) | (17.630) | (1.787) | |
Gfin | 5.083 *** | 0.029 | 5.355 *** | 0.693 * | 0.100 *** | 0.805 ** |
(6.307) | (0.917) | (7.128) | (1.951) | (9.538) | (2.238) | |
PG | −2.590 | 0.403 ** | 1.239 | 0.041 | 0.150 *** | 0.207 |
(−0.604) | (2.424) | (0.308) | (0.023) | (2.880) | (0.116) | |
TL | 0.171 | −0.023 | −0.042 | −0.351 | −0.088 *** | −0.434 |
(0.228) | (−0.773) | (−0.061) | (−1.068) | (−8.928) | (−1.312) | |
Ileve | −0.575 *** | −0.007 | −0.641 *** | 0.015 | 0.007 *** | 0.023 |
(−3.908) | (−1.226) | (−4.673) | (0.266) | (3.999) | (0.414) | |
IL | −0.015 *** | 0.001 *** | −0.008 * | −0.004 * | 0.001 *** | −0.003 |
(−2.905) | (3.445) | (−1.726) | (−1.951) | (18.414) | (−1.418) | |
_cons | 8.753 *** | 0.037 ** | 9.107 *** | 0.826 *** | 0.079 *** | 0.915 *** |
(19.840) | (2.173) | (22.018) | (3.319) | (10.266) | (3.615) | |
N | 360 | 360 | 360 | 330 | 330 | 330 |
AR(1) | 0.000 | 0.000 | 0.000 | |||
AR(2) | 0.130 | 0.165 | 0.135 | |||
Sargan | 0.181 | 0.000 | 0.183 |
Variables | Single Threshold Model | |
---|---|---|
Statistic Values | F Values | |
Urbanization | I = 0.580 | 57.790 *** (0.004) |
Marketization | I = 0.321 | 50.080 *** (0.002) |
Variables | (1) | (2) |
---|---|---|
Upgrading | Upgrading | |
CE(I ≤ λ) | 0.157 * | 0.265 *** |
(1.902) | (3.200) | |
CE(I > λ) | 0.245 *** | 0.336 *** |
(2.974) | (3.974) | |
CE2 | −0.005 | −0.017 ** |
(−0.674) | (−2.386) | |
FDI | 1.442 | 1.523 |
(1.083) | (1.140) | |
AIS | −0.002 | 0.092 |
(−0.020) | (0.809) | |
EI | −1.898 *** | −1.527 *** |
(−6.443) | (−5.104) | |
Gfin | 3.302 *** | 3.109 *** |
(4.558) | (4.271) | |
PG | −1.725 | −1.070 |
(−0.581) | (−0.359) | |
TL | −0.017 | 0.109 |
(−0.032) | (0.204) | |
Ileve | 0.814 *** | 0.740 *** |
(7.455) | (6.860) | |
IL | −0.005 | −0.004 |
(−1.162) | (−0.847) | |
_cons | 6.957 *** | 6.546 *** |
(19.800) | (18.418) | |
N | 360 | 360 |
R2 | 0.738 | 0.736 |
Variables | (1) | (2) | (3) | (4) | (5) |
---|---|---|---|---|---|
FE | GLS | DGMM | SGMM | ||
Upgrading | Upgrading | Upgrading | Upgrading | Upgrading | |
CE | −0.145 * | −0.126 * | −0.125 ** | −0.299 * | −0.087 *** |
(−1.790) | (−1.941) | (−2.116) | (−1.778) | (−3.121) | |
CE2 | 0.014 ** | 0.014 *** | 0.012 ** | 0.032 * | 0.010 *** |
(2.167) | (2.656) | (2.526) | (1.941) | (3.556) | |
upgradingt−1 | 0.862 *** | 0.652 *** | 0.835 *** | 0.939 *** | |
(19.775) | (10.811) | (7.673) | (52.113) | ||
FDI | 3.160 *** | 1.254 | 1.375 | 2.961 | 0.040 |
(2.699) | (1.255) | (1.554) | (1.058) | (0.074) | |
AIS | −0.078 | −0.032 | 0.016 | −0.027 | −0.110 * |
(−0.747) | (−0.372) | (0.209) | (−0.146) | (−1.727) | |
EI | −0.153 | −0.150 | −0.012 | −0.556 | 0.120 |
(−0.521) | (−0.645) | (−0.054) | (−1.558) | (1.396) | |
Gfin | −0.778 | 0.632 | −0.306 | 1.246 | 0.693 * |
(−1.061) | (1.156) | (−0.577) | (1.018) | (1.951) | |
PG | −0.546 | 0.797 | 0.339 | 4.757 * | 0.041 |
(−0.205) | (0.364) | (0.171) | (1.985) | (0.023) | |
TL | 1.040 ** | −0.230 | 0.382 | −0.125 | −0.351 |
(2.060) | (−0.559) | (0.983) | (−0.123) | (−1.068) | |
Ileve | 0.459 *** | −0.003 | 0.146 * | −0.141 | 0.015 |
(4.458) | (−0.039) | (1.858) | (−0.711) | (0.266) | |
IL | 0.001 | −0.002 | 0.000 | −0.004 | −0.004 * |
(0.175) | (−0.612) | (0.129) | (−0.637) | (−1.951) | |
_cons | 7.471 *** | 1.424 *** | 2.544 *** | 0.826 *** | |
(21.495) | (3.481) | (5.090) | (3.319) | ||
Year | Yes | Yes | Yes | ||
Province | YES | Yes | Yes | ||
F value | 7.900 | 145.320 | 227.190 | ||
AR (1) | 0.046 | 0.000 | |||
AR (2) | 0.230 | 0.130 | |||
Sargan | − | 0.181 | |||
Hansen test | 1.000 | − | |||
N | 360 | 330 | 330 | 300 | 330 |
R2 | 0.951 | 0.966 | 0.976 |
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Peng, C.; Guo, X.; Long, H. Carbon Intensity and Green Transition in the Chinese Manufacturing Industry. Energies 2022, 15, 6012. https://doi.org/10.3390/en15166012
Peng C, Guo X, Long H. Carbon Intensity and Green Transition in the Chinese Manufacturing Industry. Energies. 2022; 15(16):6012. https://doi.org/10.3390/en15166012
Chicago/Turabian StylePeng, Cheng, Xiaolin Guo, and Hai Long. 2022. "Carbon Intensity and Green Transition in the Chinese Manufacturing Industry" Energies 15, no. 16: 6012. https://doi.org/10.3390/en15166012