TITLE:
Study on the Carbon Emission Reduction Performance of Resource Tax Reform: Based on the Perspective of Substitution of Factors of Production
AUTHORS:
Jing Chen
KEYWORDS:
Resource Tax, Carbon Emission, Energy Consumption, Factor Substitution, Production Efficiency
JOURNAL NAME:
Open Journal of Business and Management,
Vol.5 No.1,
January
24,
2017
ABSTRACT: Resource tax is an important means to regulate energy consumption. Recent years, in
order to alleviate the structural contradiction of supply and demand of energy in our
country, the resource tax rate was adjusted repeatedly. This paper introduced energy
factor into the production function model, using 2003-2011 industry panel data to
estimate the degree of influence of the adjustment of the resource tax rate to the factor
input structure and the production efficiency of resource consuming industries.
Through empirical research, the following conclusions can be drawn: 1) The increasing
resource tax accounted for the proportion of the total tax will prompt the
resource consumption industries for re-allocation of production factors and capital
and human resources elements will replace energy factor. This is conducive to optimize
the structure of production factors, so as to promote the industry to improve
production efficiency. 2) In high energy consumption industry, the substitution effect
of capital factor on energy factor is more significant than the substitution effect
of labor factor on energy factor; however, in low energy consumption industry, the
substitution effect of labor on energy factor is more significant than capital elements’
substitution effect. 3) Compared with non-resource production industry, the impact
of increasing the rate of resource tax on resource production industry mainly occurs
as the alternative of labor actor for energy actor, and the substitution effect of capital
is not significant.