Resumen
The grassland ecological compensation policy (GECP) is currently the largest grassland ecosystem payment program in the world, trying to manage and restore degraded grasslands to achieve a virtuous cycle of grassland ecosystems. However, responses to the policy may vary across different regions. Based on panel data from 395 counties in six provinces in China?s pastoral areas from 2001 to 2021, this paper uses the difference-in-difference (DID) and moderation effect models to test the relationship between GECP and grassland quality from the perspective of grassland ecosystem vulnerability. The study found the following: (1) The spatial differentiation pattern of grassland ecosystem vulnerability in the six provinces of China?s pastoral areas is obvious, and the vulnerability is mainly slight and moderate (2) The GECP generally has a significant positive impact on grassland quality. (3) Grassland ecosystem vulnerability has a negative regulatory effect on the impact of the GECP on grassland quality. The positive impacts of policies become more pronounced as the vulnerability of grassland ecosystems decreases.