东道国碳规制对制造业企业对外直接投资的影响研究

Research on the Impact of Host Country’s Carbon Regulation on Foreign Direct Investment of Manufacturing Enterprises

本文在扩展的经济地理学理论框架下,采用《中国境外投资企业(机构)名录》和《中国工业企业数据库》合并的微观数据集,分析东道国碳规制对我国制造业企业对外直接投资的影响。研究发现:(1)整体上,通过测算我国制造业行业在2005-2013年的碳排放强度,发现目的地碳规制与我国制造业企业对外直接投资之间存在倒U型关系。(2)在高收入国家,碳规制与我国制造业企业对外直接投资成反比例关系,而在低收入国家,由于清洁技术溢出和能源效率利用方面的比较优势,碳规制与我国制造业企业对外直接投资则成正比例关系。(3)在碳规制达到90百分位时,东道国碳规制和我国企业对外直接投资之间的倒U型关系发生转折,我国制造业企业对外直接投资的能源利用及清洁技术溢出对考察期间内的大多数目的地都能成立。

Under the framework of extended economic geography theory,this paper analyzes the impact of carbon regulation of the host country on China’s manufacturing enterprises’outward direct investment by using the micro data set of"China’s foreign investment enterprises(Institutions)directory"and"China industrial enterprises database".The results show that:(1)on the whole,by measuring the carbon emission intensity of China’s manufacturing industry from 2005 to 2013,it is found that there is an inverted U-shaped relationship between destination carbon regulation and OFDI of China’s manufacturing enterprises.(2)In high-income countries,carbon regulation is inversely proportional to the OFDI of Chinese manufacturing enterprises,while in low-income countries,carbon regulation is positively proportional to the OFDI of Chinese manufacturing enterprises due to the comparative advantages of clean technology spillover and energy efficiency utilization.(3)When the carbon regulation reaches the 90 th percentile,the inverted U-shaped relationship between the host country’s carbon regulation and China’s enterprises’foreign direct investment turns.The energy utilization and clean technology spillover of China’s manufacturing enterprises’foreign direct investment can be established for most of the destinations during the investigation period.