Policy, Innovation, and Total Factor Productivity of the Chinese Wind Power Industry: Does Dynamic Capability Matter?
研究中国风电产业政策对创新和全要素生产率的影响，发现政策与全要素生产率正相关，创新起部分中介作用，且整合与重构能力增强政策对创新的正向作用。
Due to the environmental and economic advantages, wind power has been highly valued by the Chinese government in the energy transformation process. The Chinese government has promulgated a series of wind power policies, but their impacts on innovation and subsequent total factor productivity (TFP) are still not clear. Meanwhile, the role of dynamic capability seems to have been ignored. This study systematically evaluates the impact of policy on the innovation and subsequent TFP of the Chinese wind power industry. Then, we distinguish between integration capability and reconfiguration capability and elucidate their moderating effects on the relationship between policy and innovation. The empirical results indicate that policy and TFP of the Chinese wind power industry are positively correlated. Innovation plays a partial mediating role in the above relationship. Besides, both integration capability and reconfiguration capability significantly enhance the positive impact of policy on innovation.