基于我国各地区要素市场存在扭曲的特征事实,研究了要素市场扭曲提高能源回弹效应的机制与效应,发现要素市场扭曲通过扭曲企业投资和生产行为显著提高了能源回弹效应;投资偏向也是回弹效应的重要诱因,并且要素市场扭曲与投资偏向对回弹效应的促增效应具有替代性;结构调整和环境规制政策有利于降低能源回弹效应,而金融危机后的刺激政策则强化了能源回弹效应。
This paper analyzes the mechanism and the effect of factor market distortion that induce the energy rebound effect. It found that: ( 1 )Factor market distortion promotes the energy rebound effect significantly by distorting the enterprises' investment and production behavior; (2)Investment bias is also an important inducement of the rebound effect, and the factor market distortion and investment devia- tion alternately push up the energy rebound effect; (3)The environment regulation and structural adjustment policy are conducive to reduc- ing the energy rebound effect, the stimulus after the 2008 financial crisis strengthens the energy rebound effect.