绿色政策对产业链韧性的影响--兼论有效市场的调节效应

his study examines the impact of green policies on industrial chain resilience and explores the moderating effect of market efficiency. Against the backdrop of increasing global economic instability and uncertainty, enhancing industrial chain resilience has become a critical measure to address complex socio-economic challenges. Green policies have evolved into a sophisticated system involving multiple sectors, policy types, and regulatory tools, exerting profound influence on industrial development. Using panel data from 34 Chinese provinces and municipalities (2002-2022), we conduct an empirical The Impact of Green Policies on Industrial Chain Resilienceanalysis to investigate the mechanisms through which grThe Impact of Green Policies on Industrial Chain Resilience--Examining the Moderating Effect of Market Efficiencyeen policies affect industrial chain resilience. The results demonstrate that green policies significantly improve industrial chain resilience by directing capital flows, restricting high-pollution industries, and fostering green sector development. Robustness tests further validate these findings. Additionally, green innovation serves as a mediating mechanism in the relationship between green policies and enhanced resilience. Moreover, market efficiency positively moderates the effect of green policies on industrial chain resilience.