Green Total Factor Productivity Growth: Policy-Guided or Market-Driven?

Administration or marketization: Environmental regulation, marketization and agricultural green total factor productivity

The mature market can effectively reflect the value of green agricultural products, but the market in developing countries is developing slowly, so how to implement administrative environmental policies while cultivating the market has become the key to the green development of agriculture. In this paper, the government and the market are discussed under the common goal of agricultural green development. Based on the provincial panel data of China, taking agricultural green total factor productivity (AGTFP) as a breakthrough point, the relationship between environmental regulation tools, marketization processes and agricultural green development, specific applicable conditions and transmission mechanisms are explored, and further subdivided into factor and product markets to verify their correlation with AGTFP. The results show that environmental regulation and marketization processes and AGTFP are positively correlated. The former can establish a positive relationship with AGTFP through resource reallocation and technological innovation, and the latter can do so by improving the level of information and land transfer and perfecting infrastructure construction. These findings will provide new ideas for developing countries similar to China's agricultural development and enlighten developing countries pay full attention to and cultivate the market while formulating appropriate environmental regulation policies. In addition, they also need to coordinate the development of technology and organizations.

TFP Bioeconomy Impact post Covid-19 on the agricultural economy

BACKGROUND

This research was focused on measuring the TFP bioeconomy post-Covid-19 in six regions of the world.

METHODS

The panel data was organized with FAO Statistics data. Linear programming with an enveloping data analysis (DEA) approach was used to measure the Malmquist TFP indices to determine the inter-annual productivity and technical efficiency changes by region.

RESULTS

The results show that the effect of Covid-19 on the bioeconomy productivity during the period 2012-2021 on average decreased by 11.6%. This effect was explained by the decomposition of the productivity change into the changes in technical efficiency. The workers decreased their efficiency by 11.7%. In the Northern American region, it decreased by 21.6%, in the Southern European region by 10.1, and in Western Europe by 11.7%.

CONCLUSION

The results show a downward trend that was affected in the year 2019 by Covid-19, however, it was possible to recover in the following year. One of the conclusions of these results is the effect of the immediate strategies that the governments of the region implemented. This effect was a little slower in the North American, Southeastern, and Eastern European regions. Finally, it is concluded that the measures implemented by the governments in the studied regions had an increasing effect in conditions of variable scale returns. In other words, the companies that remained on a constant scale decreased.

Exploring the impact mechanism of executives' environmental attention on corporate green transformation: evidence from the textual analysis of Chinese companies' management discussion and analysis

The allocation of executives' environmental attention (EEA) is of great significance in promoting the green upgrading of industrial structures and achieving corporate green transformation. Based on upper echelon theory and the attention-based view, we use panel data of Chinese manufacturing companies from 2015 to 2020 to construct a two-way fixed effects model to explore the impact mechanism of EEA on corporate green transformation performance (CGTP). Baseline regression shows that EEA significantly improves CGTP. The reliability of findings is verified by reducing time windows, replacing the independent variable, expanding the data source, and adding missing variables. In the heterogeneity analysis, the positive effect of EEA on CGTP is significant for eastern companies and does not differ in the property rights grouping. After propensity score matching, environmental attribute grouping shows that the positive effect of EEA on CGTP is more significant for non-heavy polluters. Extended research shows that government subsidies have a positive moderating effect, while female executives play only a symbolic role. Moreover, green innovation activities have positive partial mediating effects. Green innovation is the best way to address environmental pollution and achieve corporate green transformation. Our research provides implications for decision-makers to allocate their attention, and thereby achieve green development appropriately.

Study on Spatiotemporal Features and Factors Influencing the Urban Green Total Factor Productivity in the Yellow River Basin under the Constraint of Pollution Reduction and Carbon Reduction

Whether cities can attain a win-win situation with simultaneous environmental protection and economic growth is a compelling issue in current urban development. It will be of great practical significance to comprehensively evaluate the implementation effect of the multi-dimensional goals of an urban development from the perspective of a green total factor productivity (GTFP) evaluation. The paper places pollution reduction and carbon reduction into the research framework of GTFP, introduces the SBM-DDF model to evaluate the urban GTFP of 58 cities in the Yellow River Basin (YRB) from 2006 to 2020, and employs the panel regression model to empirically study the factors influencing the urban GTFP of the region. The results are obtained as follows: (1) from the perspective of time range, the urban GTFP in the basin displays an evolutionary trend of first declining and then mounting, demonstrating the highest GTFP in the downstream, the second-highest in the midstream and the lowest in the upstream; (2) regarding the spatial distribution characteristics, the urban GTFP in the basin presents obvious spatial differences, showing the regional differences by increasing from the upstream to the downstream; (3) from the perspective of the whole basin, the advancement of economic development, urbanization processes, environmental regulations and the ecological background have significantly positive effects in improving the urban GTFP, while the improvement of the industrial structure, opening-up and energy intensity affects the urban GTFP of the basin negatively; and (4) from the perspective of the regional heterogeneity of the effects of the various influencing factors, the improvement of the opening-up and industrial structure expedites the growth of the urban GTFP of the downstream, the advancement of urbanization process restrains the urban GTFP in the upstream and the impact of the ecological background on the urban GTFP in different regions is relatively complex. This study is of great importance to improve the urban GTFP and boost the high-quality development of the cities in the basin.

Can carbon emission trading pilot policy drive industrial structure low-carbon restructuring: new evidence from China

Industrial structure low-carbon restructuring is an essential channel to accelerate China's economic growth and fulfilling carbon emission reduction goals. Whether carbon emission trading pilot policy, as an influential carbon reduction instrument, fosters industrial structure low-carbon restructuring is of major significance to green economic development. This paper empirically investigates the shock of the carbon emission trading pilot policy on industrial structure low-carbon restructuring using the differences-in-differences (DID) and synthetic control method (SCM). Statistics reveal that sectors with low carbon productivity, such as electricity, steam, and hot water production and supply, ferrous metal smelting and pressing, etc., and sectors with high carbon productivity, such as electrical equipment and machinery, electronics and telecommunication equipment, etc. The industrial structure did not develop a stable trend of change before the 12th Five-Year Plan, but a stable trend of low-carbon restructuring emerged after such a period. Carbon emission trading pilot policy significantly facilitates industrial structural low-carbon restructuring. Carbon emission trading pilot policy inhibits energy-intensive industries in the industrial sector significantly, which promotes industrial structure low-carbon restructuring. Therefore, policymakers need to develop a nationwide carbon emission trading market that includes more industries to guide production factors to industrial sectors with high carbon productivity for industrial restructuring and dual carbon goals.