题目：How effective are Ecological Fiscal Transfers in China? Evidence from Payments for National Key Ecological Function Zones
会议ID：654 925 6852
通过Skype for Business加入
Abstract: Many environmental regulations have been formulated by the Chinese government, but they have often been ineffective. One kind of Ecological Fiscal Transfers (EFT) instruments was introduced in China, namely Payments for National Key Ecological Function Zones (NKEFZs) policy. We provide principal-agent models for the incentive mechanism of NKEFZs policy and test the derived hypothesis empirically. Employing propensity score matching (PSM) and the difference in difference (DD) estimation to investigate the effectiveness of NKEFZs policy. We found evidence that the policy reduced pollution-intensive activity in the NKEFZs. Meanwhile, the implementation of the policy was selective. Firstly, the downstream NKEFZs with lower environmental quality among them, unfortunately, may form a vicious cycle for environmental protection. Because performance-based payments mechanism neglects cost opportunity, the financial stress lead to the Matthew effect. Secondly, local leaders ignore nontarget pollutants, as asymmetry information led to the moral hazards in environmental regulation.