Abstract:

It is key to clarify the relationship between energy and capital for government to make energy-saving taxation policies During 2002 to 2007, the capital and energy had an obvious substitution in 28 industries in China's manufacturing. The Morishima elasticities of substitution ratios δ^M_KEand δ^M_EK in highly-consuming energy industries are small and no big difference. The effects could be the same in increasing the energy utilization efficiency if governments apply taxation to adjust the energy price or to adjust the energy-saving equipment investment; however, the ratios in lowly-consuming energy industries are bigger and with big difference. If the energy price is remained unchanged, the effects of a taxation policy to encourage enterprises to invest in energy-saving equipments are bigger in lowly-consuming energy enterprises than in highly-consuming energy enterprises, and the effects of a taxation policy to adjust the energy price are bigger than the effects of a taxation policy to adjust equipment costs in saving energy.

Key words: Morishima elasticities of substitution, panel data, energysaving policy, manufacturing

摘要：

节能税收政策的关键问题是正确认识能源与资本的关系。研究表明，2002—2007年中国制造业28个行业的资本与能源之间存在明显的替代关系。研究发现，高能耗行业的Morishima替代弹性系数σ^k_KE和σ^M_EK都较小，且两者差别不大，运用税收手段调节能源价格或者节能设备投资，对于这些行业提高能源效率的效果可能是相同的；相反，低能耗行业的这两种系数都较大，且两者的差别也大。在能源价格不变的情况下，鼓励企业投资于节能技术设备的税收政策，对低能耗企业的影响效果要大于对高耗能企业的影响效果。调节能源价格的政策对低能耗行业的节能作用，要大于调节设备成本的税收政策对这些行业的节能作用。

关键词: Morishima 替代弹性, 面板数据, 节能政策, 制造业