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Command vs. market in China's energy intensity reduction strategies: Firm-level evidence.

ABSTRACT: China has significantly reduced the energy consumption for per unit of GDP by using both command-and-controls or market-based strategies. This paper examines empirically the relative effectiveness and efficiency of command-and-control strategy (energy reduction target) vs. market-based strategy (electricity price). We find that (1) electricity price was similarly effective in reducing electricity intensity across firms, but government targets were more effective for firms that were more technologically outdated and energy intensive; and (2) government targets led to expenditures that were not useful in reducing energy intensity, suggesting inefficiency associated with targets. Despite the Chinese governments' capacities and resources in directing and influencing enterprises, market-based approaches might still be more effective and efficient than command-and-control ones to reduce energy intensity.

SUBMITTER: Fan M

PROVIDER: S-EPMC8830638 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature

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Command vs. market in China's energy intensity reduction strategies: Firm-level evidence.

Fan Maoyong M Cao Jing J Zhang Kuangyuan K Lei Zhen Z

PloS one 20220210 2

China has significantly reduced the energy consumption for per unit of GDP by using both command-and-controls or market-based strategies. This paper examines empirically the relative effectiveness and efficiency of command-and-control strategy (energy reduction target) vs. market-based strategy (electricity price). We find that (1) electricity price was similarly effective in reducing electricity intensity across firms, but government targets were more effective for firms that were more technolo ...[more]

PMID: 35143533

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Project description:The digital transformation of firms plays an increasingly important role in the economy and society. However, limited access to data on firm-level digital intensity is an impediment to advancement of multiple research projects concerned with firm digitalization. To alleviate this challenge, this paper proposes a method for estimating firm-level digital intensity based on other more readily available firm-level data and reference data on digitalization, which is available on sector-level. The proposed method utilizes firm-level revenue breakdown by sector to estimate sector revenue-weighted digital intensity scores, which lead to classification of firms into low, medium and high digital intensity groups. The output from the proposed method can be directly used in research concerned with firm digitalization and investigating this multifaceted phenomenon. Results from the application of the proposed method to an illustrative sample of large US and non-US firms (2000 observations in total) indicate that firm-level digital intensity can be efficiently estimated for large samples using data commonly available to researchers. The key differences between the proposed method and alternative methods are:•Recognition of the fact that firms might participate in more than one sector or industry, which partially explains within-sector heterogeneity in firm-level digital intensity. We found that 67.8% of large US firms and 78.6% of large non-US firms were engaged in more than one industry.•Use of reference sector-level digital intensity scores, which allows for rapid update, application across geographies and time, as well as parallel calculation of multiple digital intensity scores for each reference data. Furthermore, use of reference data enables supplementation of firm-level data on digitalization.•Replicability of the method and reproducibility of the results through inclusion of the source code and availability of data through research and commercial databases.

Dataset Information

Command vs. market in China's energy intensity reduction strategies: Firm-level evidence.

Publications

Command vs. market in China's energy intensity reduction strategies: Firm-level evidence.

Similar Datasets

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