异质性企业对外投资行为如何影响中国绿色经济增长?

How does heterogeneous corporate external investment behavior affect China’s green economy growth?

推动绿色经济增长已成为中国高质量发展阶段的迫切任务之一。基于2009—2013年中国工业企业数据库与《对外直接投资企业(机构)名录》,利用双重差分倾向得分匹配来构建计量模型,通过Malmquist指数法来测算并分析环境约束下企业绿色全要素生产率增长状况。结果发现:第一,工业企业绿色全要素生产率高低主要受技术进步的控制。第二,对外直接投资对国内生产清洁化具有显著的积极影响,但存在一定的滞后性,且长期来看这种积极影响将逐渐淡化并消失。第三,沿海企业更高端化的产业类型、研发加工型企业的技术水平和创新能力更胜一筹,这将更有助于提升绿色全要素生产率。研究结论对中国企业在对外投资过程中如何引导母国企业绿色转型以及地方政府如何因地制宜地实施绿色投资政策等有重要启示。

Promoting green economic growth has become one of the urgent tasks of China’s high-quality development stage.Based on the China Industrial Enterprise Database and the Directory of Foreign Direct Investment Enterprises(Institutions)of 2009—2013,this paper uses the dual difference propensity score matching to construct the econometric model,and uses the Malmquist index method to measure and analyze productivity growth of the corporate green elements under environmental constraints.The study found that:First,the green total factor productivity of industrial enterprises is mainly controlled by technological progress.Second,foreign direct investment has a significant positive impact on domestic production cleanliness,but there is a certain lag,and in the long run this positive impact will gradually fade and disappear.Third,the higher-end industry types of coastal enterprises,the technological level and innovation ability of R&D and processing enterprises will help to improve green total factor productivity.The conclusions of the study have important implications for how Chinese companies can guide the green transformation of home-based enterprises in the process of foreign investment and how local governments can implement green investment policies according to local conditions.