How does China’s low-carbon city pilot program promote green investment: a spatial–temporal analysis at the city and firm levels
中国の低炭素都市パイロットプログラムはどのようにグリーン投資を促進するか：都市と企業レベルでの時空間分析 (AI 翻訳)
Zining Wang, Pengyu Zhu, Bing He
🤖 gxceed AI 要約
日本語
本研究は、中国の低炭素都市パイロット（LCCP）プログラムがグリーン投資に与える影響を、企業レベルの行動と都市レベルの空間ダイナミクスを連結した二層枠組みで分析。276都市と28,907社のパネルデータを用いた差分の差分法と空間DIDの結果、LCCPが企業レベルで8.1～15.7%、都市レベルで36～56%のグリーン投資増加をもたらすことを確認。市民の環境関与は非線形な伝達メカニズムとして機能し、政策と相互作用する場合短期的な不確実性を生む。また、明確な正の空間的波及効果が観察され、地域の不均一性が顕著である。
English
This study evaluates China's Low-Carbon City Pilot program using a dual-level framework. It finds that the program significantly boosts green investment at both firm and city levels, with spillover effects to neighboring cities. Public environmental engagement plays a nonlinear role. Regional heterogeneity suggests eastern regions are further along in the green investment pole cycle.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国の低炭素都市政策の効果を実証した本分析は、日本における地域間連携やグリーン投資促進政策の設計に示唆を与える。特に、公共参加の非線形効果や空間的波及効果は、日本の自治体政策にも応用可能な知見である。
In the global GX context
This paper provides robust empirical evidence for the Porter Hypothesis in China's hybrid regulatory context. Its spatial spillover analysis offers insights into policy diffusion and regional coordination, relevant for global climate policy design in multi-level governance systems.
👥 読者別の含意
🔬研究者:Provides a rigorous evaluation of China's low-carbon city policy using spatial DID, offering insights into policy spillovers and the Porter Hypothesis.
🏢実務担当者:Highlights how city-level low-carbon policies can stimulate green investment, with implications for corporate location decisions and engagement with local governments.
🏛政策担当者:Demonstrates the importance of regional coordination and public participation in maximizing the impact of low-carbon pilot programs.
📄 Abstract（原文）
The study examines how China Low-Carbon City Pilot (LCCP) program, as a comprehensive environmental regulation, promotes green investment using a dual-level framework that links firm-level behavioral response with city-level spatial dynamics. Using panel data for 276 cities and 28,907 listed firms from 2008 to 2021, we employ multi-period difference-in-differences and a spatial DiD approach. The findings corroborate that the LCCP significantly increases green investment—by 8.1–15.7% at the firm level and 36–56% at the city level—providing clear evidence in support of the Porter Hypothesis under China’s hybrid regulatory framework. Public environmental engagement serves as an important, albeit nonlinear, transmission mechanism: greater public attention encourages investment, but its interaction with the policy generates short-term uncertainty that can weaken firms’ responses. The program also produces clear positive spatial spillovers, showing that pilot cities transmit green investment to surrounding areas and are entering the interaction stage of the green investment pole cycle. Considerable regional heterogeneity is observed, with eastern regions displaying radiation or interaction-stage patterns, while central and western regions remain in early polarization stages. These results underscore the need for strengthened regional coordination and more institutionalized public participation in advancing low-carbon development.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1057/s41599-026-07607-zfirst seen 2026-05-30 05:01:12 · last seen 2026-06-03 05:01:43
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