芬兰经济研究所-企业动力在绿色转型中的作用：芬兰制造业的碳生产率分解（英）-2022.12-36正式版

Working Papers|9913.12.2022AbstractThis paper investigates the importance of firm dynam-ics,including entry and exit and the allocation of car-bon emissions across firms,on the green transition.Using the 20002019 firm-level register data on green-house gas emissions matched with the Financial State-ment data in the Finnish manufacturing sector,we ex-amine the sources of carbon-productivity growth and assess the relative contributions of structural change and firm dynamics.We find that continuing firms were the main drivers of carbon productivity growth where-as the contribution of entering and exiting firms was negative.In addition,the allocation of emissions across firms seems to be inefficient;its impact on carbon pro-ductivity growth was negative over the study period.Moreover,we find that there is a positive relationship between labor-intensive firms and carbon productivi-ty but that firms with a larger market share tend to be less productive in terms of carbon use.Natalia KuosmanenEtla Economic Research,Finlandnatalia.kuosmanenetla.fiTerhi Maczulskij(Corresponding author)Etla Economic Research,Finland andIZA Institute of Labor Economics,Germanyterhi.maczulskijetla.fiSuggested citation:Kuosmanen,Natalia&Maczulskij,Terhi (13.12.2022).“The Role of Firm Dynamics in the Green Transition:Carbon Productivity Decomposition in Finnish Manufacturing”.ETLA Working Papers No 99.http:/pub.etla.fi/ETLA-Working-Papers-99.pdfThe Role of Firm Dynamics in the Green TransitionCARBON PRODUCTIVITY DECOMPOSITION IN FINNISH MANUFACTURING2ETLA Working Papers|No 99Rakennemuutos ja vihre siirtym:hiilituottavuuden osatekijt Suomen teollisuudessaTss artikkelissa tutkitaan teollisuuden rakennemuu-toksen ja yritysten uusiutumisen yhteytt hiilituottavuu-den kasvussa.Tutkimuksessa hydynnetn teollisuu-den yritystason tietoja kasvihuonekaasupstist ja tilinptstiedoista vuosille 20002019.Menetelmn kytetn niin kutsuttua hajotelmamenetelm,jonka avulla hiilituottavuuden kehitys voidaan jakaa kolmeen osaan:keskimriseen jatkavien yrityksien hiilituot-tavuuden muutokseen,uusien ja poistuvien yritysten kontribuutioon sek kasvihuonekaasupstjen koh-dentumiseen yritysten kesken.Tulosten perusteella toi-mintaansa jatkaneet yritykset olivat hiilituottavuuden kasvun trkein veturi,kun taas osa tehokkaimmista yri-tyksist oli jostain syyst kannattamattomia ja poistui markkinoilta.Lisksi kasvihuonekaasupstjen koh-dentuminen yritysten kesken nytt olevan tehotonta.Tm tarkoittaa sit,ett pstt kohdentuivat saastut-tavimpiin yrityksiin ja pstjen vhentminen tapahtui jo ennestn vhpstisten yritysten toimesta.Lisksi hiilituottavuus kulkee ksi kdess tyn tuottavuuden kanssa,mutta suhde kilpailukykyyn on pinvastainen.TiivistelmPh.D.Natalia Kuosmanen is a Chief Research Scientist at ETLA Economic Research.Ph.D.Terhi Maczulskij is a Chief Research Scientist at ETLA Economic Research and a Research Fellow at IZA.MMT Natalia Kuosmanen on Elinkeinoelmn tutkimuslaitoksen tutkimuspllikk.KTT,FM,dosentti Terhi Maczulskij on Elinkeino-elmn tutkimuslaitoksen tutkimuspllikk sek IZA:n Research Fellow.Acknowledgements:The authors gratefully acknowl-edge financial support from the TT Foundation.Data used in the empirical application of this paper were provided by Statistics Finland.Kiitokset:Haluamme kiitt hanketta rahoittanutta Teollisuuden ja Tynantajain Keskusliiton(TT)-sti-t.Keywords:Carbon productivity,Decomposition,Firm dynamics,Firm-level data,ManufacturingAsiasanat:Hiilituottavuus,Hajotelmamenetelm,Rakennemuutos,Yritystason aineisto,TeollisuusJEL:D24,L60,Q543The Role of Firm Dynamics in the Green Transition:Carbon Productivity Decomposition in Finnish Manufacturing2 1.Introduction A major cause of climate change is greenhouse gas(GHG)emissions(Solomon,2007).According to the Government Programme,Finland aims to be carbon neutral by year 2035.1 Further,the new Climate Change Act,which came into force in 2022,has set ambitious targets for reducing emissions by 80%by 2040,compared to the levels in 1990(Ministry of the Environment,2022).To meet its carbon neutrality goals,Finland must strengthen its efforts to fight climate change and reduce CO2 emissions.Therefore,it is crucial to understand the driving forces behind the emission changes.The contribution of the manufacturing sector to Finlands total GHG emissions was 22%in 2020(Statistics Finland,2022).Figure 1 depicts the GHG emissions generated by the manufacturing sector between 2000 and 2019.Although this sector is responsible for the great majority of total emissions at the national level,it has been able to decrease its emissions by approximately 2%annually between 2000 and 2019.The emission levels remained fairly constant between 2000 and 2008:approximately 18 million tonnes of carbon dioxide equivalent(CO2 eq.)annually.As the 2008 global financial crisis turned into an economic crisis in the eurozone countries,industrial output declined sharply,which led to a sharp decline in emissions.Since 2009,there has been continuo