The Effects of The Multi-Target Policy on Green Productivity: Evidence from China’s Fossil Fuel Power Plants
提出了非径向元前沿全球Luenberger生产率指数，利用2005-2015年中国发电厂数据，识别了“十二五”规划中节能和二氧化硫减排目标对绿色生产率的影响，发现节能目标提升生产率而减排目标略有降低。
We propose the non-radial meta-frontier global Luenberger productivity index, which addresses the issues of technology heterogeneity, slack variable, and linear programming infeasibility, and decompose it based on the technology perspective and factor perspective. With the dataset of China’s power plants from 2005 to 2015, we identify the effects of the multi-targets, including energy-saving targets and <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline" overflow="scroll"> <mml:mrow> <mml:mi mathvariant="normal">S</mml:mi> <mml:msub> <mml:mrow> <mml:mi mathvariant="normal">O</mml:mi> </mml:mrow> <mml:mrow> <mml:mn>2</mml:mn> </mml:mrow> </mml:msub> </mml:mrow> </mml:math> reduction targets, in the 12th Five-Year Plan on green productivity encompassing all channels of effects. A <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline" overflow="scroll"> <mml:mrow> <mml:mn>1</mml:mn> <mml:mi mathvariant="normal">%</mml:mi> </mml:mrow> </mml:math> increase in the average energy-saving target cumulatively increases green productivity by <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline" overflow="scroll"> <mml:mrow> <mml:mn>0</mml:mn> <mml:mo>.</mml:mo> <mml:mn>50</mml:mn> <mml:mi mathvariant="normal">%</mml:mi> </mml:mrow> </mml:math> , while a <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline" overflow="scroll"> <mml:mrow> <mml:mn>1</mml:mn> <mml:mi mathvariant="normal">%</mml:mi> </mml:mrow> </mml:math> increase in the average <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline" overflow="scroll"> <mml:mrow> <mml:mi mathvariant="normal">S</mml:mi> <mml:msub> <mml:mrow> <mml:mi mathvariant="normal">O</mml:mi> </mml:mrow> <mml:mrow> <mml:mn>2</mml:mn> </mml:mrow> </mml:msub> </mml:mrow> </mml:math> reduction target cumulatively decreases that by <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline" overflow="scroll"> <mml:mrow> <mml:mn>0</mml:mn> <mml:mo>.</mml:mo> <mml:mn>03</mml:mn> <mml:mi mathvariant="normal">%</mml:mi> </mml:mrow> </mml:math> . In all channels, the technology leadership effect and generation efficiency exhibit sensitivity. Differential effects of the multi-targets on state-owned versus non-stateowned plants imply significant differences in observed production technology.