Original scientific paper
https://doi.org/10.1080/1331677X.2021.1931911
Economic policy uncertainty and green economy efficiency: power or resistance?—Empirical evidence from Chinese major urban agglomerations
Junwei Ma
Jianhua Wang
Xiangdong Shen
Abstract
Policy uncertainties have always played a critical role in shaping
economic outcomes, as evidenced by the recent sluggish economic growth in many countries. Green economic efficiency (GEE)
is a comprehensive index to measure economic, social, and environmental development. This paper uses the slack-based measurement (SBM) directional distance function and Luenberger
productivity indicator to measure the static GEE and dynamic
green total factor productivity (GTFP) of China’s urban agglomerations from 2003 to 2020 under constraints of resources and environment. In order to clarify the driving mechanisms of GEE and
GTFP, this paper adds the factor of economic policy uncertainty
(EPU). The results show that there is a positive correlation
between EPU with GEE and GTFP. The possible reason is that the
market mechanism plays a decisive role in improved GEE and
GTFP. Therefore, policymakers should give better play to the government’s macro-control role, and play the decisive role of the
market mechanism in the environmental governance system to
improve GEE and GTFP in a targeted manner
Keywords
Economic policy uncertainty; green economic efficiency; green total factor productivity; urban agglomeration
Hrčak ID:
301853
URI
Publication date:
31.3.2023.
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