Resource-based transformation and urban resilience promotion: Evidence from firms' carbon emissions reductions in China

The current research investigating the effectiveness of policy-driven transformation in resource-based cities has focused mainly on city-level impacts and has overlooked firm-level evidence. This paper filled this gap by focusing on its impact on firm-level carbon emissions. Drawing on the quasi-natural experiment of China's reform of resource-based city transformation, we utilize a difference-in-differences (DID) model based on nationwide firm-level tax survey data from 2009 to 2016. The findings indicate a noteworthy reduction in firms' carbon emissions due to the reform, particularly in growing-type resource-based cities and within the manufacturing industry. The empirical results provide evidence that the implementation of the "Plan" has effectively enhanced the level of urban resilience. Moreover, the findings demonstrate stronger effects on large firms, publicly owned firms, and firms in municipal districts.