题目：Pollution and Innovation: Evidence from Manufacturing Firms in China

主讲人：蒲龙 讲师

主持人：金戈 教授

时间：2022年5月10日15：00-16：20

地点：浙江财经大学财税学院1号楼302室

主办单位：浙江财经大学现代公共经济学研究中心

内容摘要：Constructing a comprehensive database containing firm-level and meteorological-level information, this study examines how air pollution affects firm innovation. Using an instrumental variable approach, we find that air pollution significantly negatively impacts on firm innovation. For every increase of 1μg/m3 of PM2.5 concentration, the number of patent applications will be significantly reduced by 0.72%. In addition, the concentration of PM2.5 is detrimental to the quality of patents. We also find that the negative effect of air pollution on firm innovation is more pronounced in private firms and capital-intensive firms. Mechanistic tests show that air pollution hinders the accumulation of innovative workers and increases production costs. Our finding indicates that firms' behavioral responses should be accounted for when assessing the social welfare of air pollution.