Economic policy, regulatory policy, or soft policy: Which category of policy can effectively improve the green innovation of Chinese wind power industry?

Abstract

Although wind power is clean in general, its potential adverse impacts on ecology and environment still cannot be ignored. To improve green innovation of wind power industry, the Chinese government has issued a series of policies. With the microdata from listed Chinese wind power enterprises from 2006 to 2019, this study examines the impacts of policies on green innovation. The results indicate that economic policy, regulatory policy, and soft policy significantly improve the green innovation. Unfortunately, the incentive effect only scratches the surface. The further analysis suggests that all categories of policies contribute to the low‐quality green innovation only.