At present,China is in the period of large-scale tax and fee cuts and external pandemic shocks.Local governments’fi nancial pressure has intensifi ed.There is a lack of existing studies on how it will aff ect local c...At present,China is in the period of large-scale tax and fee cuts and external pandemic shocks.Local governments’fi nancial pressure has intensifi ed.There is a lack of existing studies on how it will aff ect local carbon emissions.This paper uses the quasi-natural experiment of the 2010 educational authority reform to measure exogenous changes in fi nancial pressure.It adopts the continuous double diff erential method to empirically investigate the impact of local fi nancial pressure on carbon emissions.The results of the paper are as follows.First,the financial pressure generated by the educational authority reform has significantly increased local carbon emission intensity.This indicates that local governments will address carbon emissions in other ways when they feel fi nancial pressure.Second,to ease fi nancial pressure,local governments will regulate high energy-consuming enterprises and utilize their high production value and strong tax-generating ability to scale up their production capacity and obtain more tax revenues,which will lead to a large amount of carbon emissions.This study is of important reference significance for how to deal with fi nancial pressure from now on and how to well handle the relationship between local fi nance and carbon emissions.展开更多
基金supported by the General Project of“China’s Feedback Cycle of Fiscal and Financial Risks and Its Collaborative Governance Research”in China’s National Social Sciences Planning(21BJY003)the“Research on the Mutualization of Fiscal and Financial Risks and the Chinese Government’s Control of Hidden Contingent Debt”in Shandong Science&Technology Support Program for Higher Education Youth Innovation(2020RWE007).
文摘At present,China is in the period of large-scale tax and fee cuts and external pandemic shocks.Local governments’fi nancial pressure has intensifi ed.There is a lack of existing studies on how it will aff ect local carbon emissions.This paper uses the quasi-natural experiment of the 2010 educational authority reform to measure exogenous changes in fi nancial pressure.It adopts the continuous double diff erential method to empirically investigate the impact of local fi nancial pressure on carbon emissions.The results of the paper are as follows.First,the financial pressure generated by the educational authority reform has significantly increased local carbon emission intensity.This indicates that local governments will address carbon emissions in other ways when they feel fi nancial pressure.Second,to ease fi nancial pressure,local governments will regulate high energy-consuming enterprises and utilize their high production value and strong tax-generating ability to scale up their production capacity and obtain more tax revenues,which will lead to a large amount of carbon emissions.This study is of important reference significance for how to deal with fi nancial pressure from now on and how to well handle the relationship between local fi nance and carbon emissions.
