地方债对碳排放的效应分析——基于148个地级市的实证分析
Analysis of the Effect of Local Debt on Carbon Emissions: Empirical Analysis Based on 148 Prefecture Level Cities

2020年9月22日，总书记在第七十五届联合国大会上宣布，中国力争2030年前二氧化碳排放达到峰值，努力争取2060年前实现碳中和目标。当前中国经济增长高度依赖地方政府公共基础设施投资拉动，而地方政府债务(简称地方债)是为公益资本性项目融资的一种财政工具。所以选取2013~2022年148个地级市碳排放与地方债的数据，探究地方债举借对碳排放的影响，通过稳健性检验、异质性检验发现地方债促进了碳排放的增加，尤其是在经济不发达的西部地区，地方债显著促进了碳排放的增加。政府应该严控地方政府债务规模，防范隐性债务风险；优化地方债支出结构，提高资金使用效益。
On September 22nd, 2020, the General Secretary announced at the 75th UN General Assembly that China will strive to achieve the peak of carbon dioxide emissions by 2030 and carbon neutrality by 2060. At present, China’s economic growth is highly dependent on local government’s investment in public infrastructure, and local government debt (referred to as local debt) is a financial tool for financing public welfare capital projects. Therefore, based on the data on carbon emissions and local debt of 148 prefecture-level cities from 2013 to 2022, this paper explores the impact of local debt borrowing on carbon emissions. Through the robustness test and heterogeneity test, it is found that local debt promotes the increase of carbon emissions, especially in the economically underdeveloped western region. Local debt significantly promotes the increase of carbon emissions. The government should strictly control the scale of local government debt and guard against hidden debt risks, Optimize the structure of local debt expenditure, and improve the efficiency of capital use.