环境规制、FDI与“污染避难所”效应——中国工业行业异质性视角的经验分析

Environmental Regulation, Foreign Direct Investment and 'Pollution Haven' Effect: Empirical Analysis Based on the Perspective of China Industrial Heterogeneity

围绕中国是否存在"污染避难所"效应,学者们展开了激烈的讨论,但尚未形成一致性的研究结论。基于2005—2010年中国37个工业行业的面板数据,对环境规制是否会影响FDI流入进行了实证检验。主要结论有:一是环境规制对工业行业引进外资具有一定的负向效应,且在考虑企业规模、市场化水平、行业利润等其他因素时,这种效应更为明显,即"污染避难所"假说在我国工业行业层面得到了验证;二是环境规制对FDI的影响具有显著的行业异质性,在技术密集度较低、环境污染程度较高、R&D强度较低、垄断水平较低的行业,环境规制对FDI的抑制作用会更加显著。

On the existence of China ＇Pollution Haven＇ effect, scholars have launched a heated discussion, but have not yet formed a consistent conclusion. Based on the 2005-2010 China＇s 37 industrial panel data, on environ- mental regulation and whether the effect of foreign capital introduction inflows is empirically tested. The main con- clusions are： firstly, environmental regulation has certain negative effect on industry＇s foreign capital introduction, and considering the enterprise scale, the level of market, industry profit and other factors, this effect is more obvi- ous. The ＇Pollution Haven＇ Hypothesis has been verified in China＇s industry level; secondly, environmental regula- tion has certain heterogeneity effect on foreign capital introduction. In the industries with low technology inten- sive, high environmental pollution, low R＆D intensity and monopoly, environmental regulation＇s negative effect on foreign capital introduction will be more significant.