Cap-and-trade policies and regional environmental innovation: evidence from the EU Emissions Trading System
研究了欧盟排放交易体系下更严格的限额与交易政策是否促进区域环境技术创新，以及这种效应是否溢出到邻近区域，发现区域内溢出效应存在但较弱，区域间溢出通过空间邻近和贸易关系发生。
Abstract We investigate whether more regionally stringent cap-and-trade (C&T) policies induce regional innovation in environmental technologies and whether this effect spills over to proximate regions. Compiling a novel regional dataset, we test this argument for the EU Emissions Trading System (EU ETS) over the period 2005–2020. We find evidence of an intra-regional spillover effect, which is weaker in regions specialized in environmental technologies. We also identify inter-regional spillovers through spatial proximity and trade relationships, but not via knowledge networks. Instrumenting C&T exposure with a Bartik IV supports a causal interpretation of our estimates.