Evaluating the Effect of China’s Carbon Emission Trading Policy on Energy Efficiency of the Construction Industry Based on a Difference-in-Differences Method
Table 7
The estimation results of mechanism analysis.
Explained variable
(1) Machinery
(2).Lnee
(3).Rdratio
(4).Lnee
(5).Lnee
(6).Lnee
treatipostt
−1.628∗∗∗
0.226∗∗∗
0.002∗∗∗
0.226∗∗∗
1.386∗∗∗
1.542∗∗
(−2.91)
(2.92)
(3.22)
(2.92)
(3.55)
(2.74)
Productivity
0.001
0.007∗∗∗
0.000∗
0.007∗∗∗
0.007∗∗∗
(0.03)
(3.11)
(1.86)
(3.11)
(2.96)
Urbanratio
13.857∗
3.659∗∗
−0.012
3.659∗∗
3.676∗∗
(1.72)
(2.28)
(−0.72)
(2.28)
(2.45)
Lnesratio
−1.488∗
0.467∗∗∗
0.000
0.467∗∗∗
0.469∗∗∗
(−1.99)
(5.50)
(0.21)
(5.50)
(5.69)
Rdratio
215.803
29.223∗∗
29.223∗∗
31.863∗∗
(1.35)
(2.16)
(2.16)
(2.48)
Machinery
−0.017∗∗
0.000∗∗
−0.017∗∗
−0.017∗∗
(−2.31)
(2.29)
(−2.31)
(−2.24)
Lneninratio
−0.065
0.021
(−0.36)
(0.17)
treatipostt×lneninratio
0.320∗∗∗
0.366∗∗
(2.95)
(2.34)
_Cons
−6.950
1.455
0.020∗
1.455
2.922∗∗∗
1.493∗
(−1.04)
(1.45)
(1.99)
(1.45)
(4.48)
(1.72)
Province FE
Yes
Yes
Yes
Yes
Yes
Yes
Year FE
Yes
Yes
Yes
Yes
Yes
Yes
Adj. R2
0.571
0.941
0.984
0.941
0.892
0.943
N
270
270
270
270
270
270
Standard errors are clustered at the provincial level. t statistics in parentheses. ∗p < 0.10, ∗∗p < 0.05, ∗∗∗p < 0.01.