Emission Reduction Benefits and Economic Benefits of China’s Pilot Policy on Carbon Emission Trading System

Table 2

Variable design and description.

Variable types	Variable name	Code	Measure index
Independent variable	CETS	TIME × TREAT	China’s pilot policy on CETS since 2013
Dependent variable	Emission reduction benefits	CO2	CO2 emissions
	Economic benefits	TFP	Total factor productivity
Control variable	Level of service industry	SI	Value-added service industry/GDP
	Optimization of industrial structure	OIS	Value-added tertiary industry/value-added secondary industry
	Level of foreign capital utilization	FDI	Actual utilization of FDI/GDP
	Level of opening up	OPEN	Total export/GDP
	Level of education	EDU	Total population of high school and above/total population at year end
Mediator variable	Technology innovation	TI	Turnover in the technology market
	Energy efficiency	EE	Total energy consumption/GDP

Note: the original data came from China Statistical Yearbook and China Environmental Statistical Yearbook. The data of TFP and EE were calculated by the authors.