Table 6 Effects of ETS–TGC synergy on the CE, CI, REG and PREG.

From: Synergy pathway innovation of carbon emission trading, tradable green certificate and green power trading policies: achieving China’s dual carbon goals

Variable name

lnCEa

lnCEb

lnCIa

lnCIb

lnRGE

lnPRGE

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

\(DI{D}_{pilotETS}\times pos{t}_{TGC}\)

−0.2274*** (0.0642)

 

−0.2360*** (0.0643)

 

−0.1954* (0.1127)

 

−0.1199** (0.0502)

 

\(pos{t}_{nationalETS}\times pos{t}_{TGC}\)

 

0.1970*** (0.0255)

 

0.1967*** (0.0252)

 

0.4471*** (0.0620)

 

0.2115*** (0.0285)

Control variable

YES

YES

YES

YES

YES

YES

YES

YES

Province fixed effect

YES

YES

YES

YES

YES

YES

YES

YES

Year fixed effect

YES

NO

YES

NO

YES

NO

YES

NO

Constant

9.7785** (4.1431)

1.3362 (2.1926)

17.9002*** (4.1490)

10.5017*** (2.1689)

−36.5431*** (7.2709)

−42.1360*** (5.3257)

7.0966** (3.2383)

−0.4724 (2.4519)

Sample size

420

420

420

420

420

420

420

420

R2

0.9456

0.9724

0.9533

0.9641

0.9389

0.9316

0.8607

0.8334

  1. Standard errors are in brackets; ***, **, * indicate significant at the 1%, 5% and 10% levels respectively.