Empirical Analysis of Renewable Energy Subsidy Policies on Regional Employment and Growth
再生可能エネルギー補助金政策が地域雇用と成長に与える影響の実証分析 (AI 翻訳)
Yuhao Gu, Xin Song, Wenyuan Han, Ming Xie
🤖 gxceed AI 要約
日本語
中国の2016年再生可能エネルギー補助金改革を自然実験とし、企業レベルと地域レベルのパネルデータを用いて、補助金が企業行動を通じて地域雇用と経済成長に与える影響を実証分析。DID、DDD、媒介分析、閾値回帰を駆使し、補助金が雇用と成長を有意に押し上げる一方、企業投資効率とは逆U字関係にあることを示した。
English
Using China's 2016 renewable energy subsidy reform as a quasi-natural experiment, this study empirically analyzes the impact of subsidies on regional employment and growth through firm behavior. Employing DID, DDD, mediation, and threshold models, it finds significant positive effects on employment and growth, with an inverted U-shaped relationship between subsidy intensity and firm investment efficiency.
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
日本の再生可能エネルギー政策（FIP導入、入札制度）や地域経済活性化策に示唆。補助金の効率的な設計と企業行動への影響を理解する上で参考になる。
In the global GX context
Provides rigorous micro-macro evidence on subsidy effectiveness, relevant to global debates on renewable energy support mechanisms and their economic impacts, complementing ISSB/TCFD discussions on transition finance.
👥 読者別の含意
🔬研究者:補助金政策の効果を企業・地域レベルで統合的に分析した方法論と知見を参照。
🏢実務担当者:補助金申請や投資判断における補助金依存度の最適水準（逆U字）を考慮する。
🏛政策担当者:補助金制度設計における入札方式や地域差を考慮した政策調整の重要性を示す。
📄 Abstract（原文）
Against the global backdrop of carbon peaking and carbon neutrality goals, renewable energy subsidy policies worldwide are shifting from universal, tariff-based schemes toward targeted, market-oriented mechanisms. However, existing research remains divided on the incentive effects of subsidies on firm investment and the risk of resource misallocation, and few studies have established a clear micro-macro linkage between firm-level subsidy receipts and regional employment and growth outcomes. Taking China’s 2016 renewable energy subsidy reform—characterized by competitive project bidding and green certificate trading—as a quasi-natural experiment, this study constructs a two-layer panel dataset covering 286 A-share listed renewable energy firms (2010–2023, 2412 firm-year observations) and 30 provincial-level regions in China (2010–2023, 420 region-year observations). Employing difference-in-differences (DID), triple difference-in-differences (DDD), mediation effect models, and threshold regression, combined with instrumental variables and placebo tests to address endogeneity, we empirically examine how subsidy policies transmit from firm behavior to regional employment and economic growth. The results indicate that the 2016 reform significantly boosted regional employment (elasticity = 0.035, p < 0.01) and economic growth (elasticity = 0.031, p < 0.05) in treated provinces. At the firm level, subsidy intensity exhibits an inverted U-shaped relationship with investment efficiency, with an estimated inflection point at 8.3% of operating revenue within the sample. Mechanism analysis shows that easing financing constraints, stimulating technological innovation, and reducing operational risk serve as core transmission channels, with the strongest contribution from financing constraint alleviation. Heterogeneity analysis further finds larger effects for private firms, high-tech enterprises, and coastal regions. This study develops a nonlinear analytical framework of “subsidy intensity–firm behavior–regional outcomes”, identifies context-specific boundaries of subsidy effectiveness, and provides integrated micro-macro empirical evidence for optimizing subsidy policies and advancing the global energy transition.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://www.mdpi.com/2071-1050/18/15/7683/pdf?version=1785310774first seen 2026-08-01 06:48:14 · last seen 2026-08-02 06:36:36
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