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首页> 外文期刊>International review of economics & finance >The impact of green energy infrastructure on firm productivity: Evidence from the Three Gorges Project in China
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The impact of green energy infrastructure on firm productivity: Evidence from the Three Gorges Project in China

机译:绿色能源基础设施对公司生产力的影响:中国三峡工程的证据

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摘要

Despite the dominant role of hydropower in the global power generation mix and the popularity of studying the productivity impact of infrastructure investment, there is a lack of research regarding the impact of hydropower projects on firm productivity. Such a positive impact can promote a more ambitious action plan for mitigating carbon emissions. This study investigates whether and how China's Three Gorges Project (TGP), the world's largest hydropower project, may affect the productivity of manufacturing firms in the province where the project is located. The empirical results reveal a statistically and economically significant positive impact of the TGP on manufacturing firms' productivity, and various robustness checks confirm the soundness of our findings. We also verify three channels, the capital deepening effect, the scale effect, and the competition effect, robustly. This productivity impact suggests that hydropower projects have an economic benefit in addition to the other well-known ones, such as flood control and improvement of the shipping capacity. The findings imply that policy makers need to consider the broad benefits of green energy beyond the conventional cost-benefit tradeoff, which can help justify some marginal green energy projects and technologies.
机译:尽管水电在全球发电组合中的主导作用和研究基础设施投资的生产力影响的普及,但缺乏关于水电项目对公司生产力的影响的研究。这种积极的影响可以促进更加雄心勃勃的缓解碳排放的行动计划。本研究调查了世界三峡项目(TGP)是世界上最大的水电项目,可能影响项目所在省内制造公司的生产力。经验结果揭示了TGP对制造公司生产力的统计上和经济上显着的积极影响,各种稳健性检查确认了我们的研究结果的健全性。我们还验证了三个渠道,资本深化效果,规模效应,竞争效果强大。这种生产力的影响表明,除了其他知名人士之外,水电项目还具有经济效益,例如防洪和运输能力的提高。这些研究结果意味着政策制定者需要考虑绿色能源的广泛利益,超越传统的成本效益权衡,这有助于了解一些边缘绿色能源项目和技术。

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