Environmental Taxes, Subsidies and Clean Technology Innovation: Theory and Evidence

Abstract

Abstract: This paper studies the effects of environmental taxes and subsidies on clean technology innovation using directed technological change theory and company data. Theoretical models show that the impact of environmental taxes and subsidies on clean technology innovation depends primarily on the elasticity of substitution of clean energy and fossil fuels. When fossil energy and clean energy are complementary, environmental taxes will inhibit clean technology innovation. Environmental subsidies will promote clean technology innovation, but have a greater effect on fossil energy technologies innovation. In contrast, when clean energy and fossil energy are substituted, environmental taxes and subsidies will promote clean technology innovation, and suppress fossil energy technology innovation. Technology spillover reduces the critical point of the elasticity of substitution, thus improving the effect of environmental taxes and subsidies on promoting clean technology innovation. The empirical study shows that clean energy and fossil energy complement each other in china, so environmental taxes suppress clean technology innovation, and environmental subsidies improve clean technology innovation, but have a smaller effect. Government policy should broaden the application of clean technologies throughout the whole industry chain, so as to improve the elasticity of substitution of clean energy and fossil fuels.

Key words: Environmental Taxes, Subsidies, Clean Technology Innovation

摘要： 本文利用偏向性技术创新理论和上市公司数据实证研究了环境税和环境补贴对我国清洁技术创新的影响。理论模型研究表明,环境税和环境补贴对清洁技术创新的影响主要取决于清洁能源和化石能源的替代弹性。当清洁能源和化石能源互补时,环境税会抑制清洁技术创新,环境补贴会促进清洁技术创新,但对化石能源技术创新的作用更大。相反,当清洁能源和化石能源相互替代时,环境税和环境补贴能够促进清洁技术创新,抑制化石能源技术创新。技术外溢降低了替代弹性的临界点,提高了环境税和环境补贴促进清洁技术创新的效果。利用系统GMM和Tobit方法实证研究表明,我国目前的清洁能源和化石能源互补,使得环境税抑制了清洁技术创新,环境补贴能够促进清洁技术创新,但效果较小。政府政策应从全产业链角度扩大清洁技术应用范围,提高清洁能源和化石能源的替代弹性。

关键词: 环境税, 环境补贴, 清洁技术创新

CLC Number:

F810.2

YANG Fei. Environmental Taxes, Subsidies and Clean Technology Innovation: Theory and Evidence[J]. , 2017, 33(8): 19-27.

杨飞. 环境税、环境补贴与清洁技术创新:理论与经验[J]. 财经论丛, 2017, 33(8): 19-27.

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