The Environmental Dividend of CRexpress: Theoretical Mechanism and Empirical Test

Abstract

Abstract: The CRexpress is a landmark achievement of the implementation of the “Belt and Road” initiative. In order to promote the green “Belt and Road” construction, it is necessary to clarify the relationship between the opening of CRexpress and environmental pollution. This paper takes the opening of CRexpress as a quasi-natural experiment, adopts the panel statistics of 284 cities in China from 2005 to 2019, and uses the double-difference method to empirically investigate the impact of the opening of CRexpress on urban environmental pollution. The research finds that: compared with cities that have not been opened, the average environmental pollution of cities with CRexpress is reduced by 2.05%, indicating that the opening of CRexpress has released environmental dividends. Mechanism examination shows that, the opening of CRexpress reduces urban environmental pollution by helping upgrade the industrial structure, driving technological innovation and optimizing capital allocation. Heterogeneity analysis confirms that the pollution reduction effect of the opening of CRexpress has significant regional and urban heterogeneity. In western regions and cities with high human capital, strong financial support, and good information infrastructure, the opening of CRexpress can play a stronger role in reducing pollution. At the same time, the pollution reduction effect of the opening of CRexpress shows spatial spillover characteristics, but its contribution rate is very limited.

Key words: green"Belt and Road", CRexpress, environmental pollution, DID

Zheng Wanteng, Zhao Hongyan, Zhang Yue. The Environmental Dividend of CRexpress: Theoretical Mechanism and Empirical Test[J]. Management Review, 2024, 36(10): 22-34.

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