对外直接投资对水足迹影响的实证分析

Empirical Analysis of the Impact of Outward Foreign Direct Investment on Water Footprint

如何在走出去的同时降低中国水足迹是当前亟需解决的问题之一。文章基于动态面板数据,利用Sys-GMM法实证研究了对外直接投资对水足迹的影响。结果发现,对外直接投资提高了中国水足迹,其中对外直接投资通过经济规模效应、出口增长效应、环境污染效应和国内投资效应提高了中国水足迹,通过技术进步效应、要素配置效应、产业结构效应和收入效应降低了中国水足迹,后两者降低作用不显著。分类型而言,市场寻求型和资源寻求型对外直接投资提高了中国水足迹,技术寻求型对外直接投资降低了中国水足迹,顺梯度对外直接投资提高了中国水足迹,逆梯度对外直接投资降低了中国水足迹。文章还发现,经济规模、水资源禀赋、城镇化水平、进出口贸易和气候因素提高了中国水足迹,外资并未显著提高中国水足迹,用水效率、技术进步和环境规制有助于降低中国水足迹,产业结构和居民收入水平对中国水足迹的降低作用不显著。

How to reduce China’s water footprint while going out is one of the urgent problems to be solved. Based on the dynamic panel data,this paper empirically studies the impact of OFDI on water footprint by using the systematic GMM method. The results show that OFDI has improved China’ s water footprint,in which OFDI has improved China’ s water footprint through economic scale effect,export growth effect,environmental effect and domestic investment effect,and reduced China’ s water footprint through technological progress effect,factor allocation effect,industrial structure effect and income effect. The latter two have no significant reduction effect. In terms of classification,market-seeking and resource-seeking OFDI have improved China’ s water footprint,while technology-seeking OFDI has reduced China’s water footprint;path-wise OFDI has improved China’s water footprint,and inverse OFDI has reduced China’s water footprint. It is also found that economic scale,water resources endowment,urbanization level,import and export trade and climate factors have improved China’s water footprint,while FDI has not significantly improved China’s water footprint. Water use efficiency,technological progress and environmental regulation have contributed to the reduction of China’s water footprint. Industrial structure and income level of residents have reduced China’s water footprint,but the effects are not significant.