Green Innovation Effect of China's Comprehensive Reform of Service Sector

Abstract

Abstract: In the context of service-oriented transformation, the service factor input is animportant driving force to drive the green low-carbon transformation, and the green innovation effect triggered by the comprehensive reform of its departments deserves attention. The existing literature highlights the impact of industrial sector deregulation on the improvement of the efficiency of service sector, but ignores the green spillover effects brought forward by the institutional innovation of the service sector. Thus, this paper applies the methods of DID and DDD to explore the green innovation effect of the pilot policy for the service sector comprehensive reform. The findings show that the comprehensive reform of service sector can significantly improve the green innovation performance of firms in the pilot areas, thatthe green innovation effect of the service sector comprehensive reform is more significant in the state-owned enterprises, the enterprises with stronger market power, the enterprises in the non-heavy pollution industry, and the enterprises with lower foreign investment openness and lower digitalization degree in the service sector, and that the comprehensive reform of the service industry can improve the green innovation performance of enterprises by optimizing the intermediate input structure of the service industry, reducing operation and management costs, strengthening the correlation strength between upstream and downstream industries, and establishing a green service system.From the view of high-quality development, it is necessary to unleash the green dividends of service industry reform with a distinctive and differentiated development approach, keep a foothold on the combination between local reality and reform and innovation, explore step by step the experiences and models that can be replicated and promoted, thereby achieving a deep integration of service industry governance modernization and the environmental, social and responsibility demands of enterprises.

Key words: comprehensive reform of service sector, innovation of system and mechanism, innovation of green technology, quasi natural experiment

CLC Number:

F062.9

LIU Sheng, XU Rong-xin, CHEN Xiu-ying. Green Innovation Effect of China's Comprehensive Reform of Service Sector[J]. Contemporary Finance & Economics, 2023, 0(9): 111-122.

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