The Effect of Foreign Direct Investment on Air Pollution in the Economic Community of West African States region: What Influence Does Tax Expenditure Have?

Air pollution is one of the crucial environmental challenges facing the countries of the Economic Community of West African States (ECOWAS). The objective of this paper is to examine the effect of an attractive tax policy on the relationship between Foreign Direct Investment (FDI) and air pollution in ECOWAS region over the period 2000 to 2019. By using the Ordinary Least Squares (OLS) method and panel data analyses (fixed effects and random effects), the results show that, in general, FDI does not have a significant effect on air pollution in the region. However, closer analysis reveals that an interaction between FDI and an attractive tax policy has a negative effect on air quality, leading to an increase in air pollution. Thus, companies attracted by tax incentives may not meet rigorous environmental standards. These results highlight the importance for policymakers to balance economic incentives with environmental protection in ECOWAS. Attractive tax policies can stimulate investment, but they must be designed in a way that encourages environmentally friendly practices, thereby helping to improve air quality in the region.

Does Foreign Direct Investment Affect S0_(2) Emissions in the Yangtze River Delta?A Spatial Econometric Analysis

As the major source of air pollution,sulfur dioxide(S0_(2))emissions have become the focus of global attention.However,existing studies rarely consider spatial effects when discussing the relationship between foreign direct investment(FDI)and S0_(2) emissions.This study took the Yangtze River Delta as the research area and used the spatial panel data of 26 cities in this region for 2004-2017.The study investigated the spatial agglomeration effects and dynamics at work in FDI and S0_(2) emissions by using global and local measures of spatial autocorrelation.Then,based on regression analysis using a results of traditional ordinary least squares(OLS)model and a spatial econometric model,the spatial Durbin model(SDM)with spatial-time effects was adopted to quantify the impact of FDI on S0_(2) emissions,so as to avoid the regression results bias caused by ignoring the spatial effects.The results revealed a significant spatial autocorrelation between FDI and S0_(2) emissions,both of which displayed obvious path dependence characteristics in their geographical distribution.A series of agglomeration regions were observed on the spatial scale.The estimation results of the SDM showed that FDI inflow promoted S0_(2) emissions,which supports the pollution haven hypothesis.The findings of this study are significant in the prevention and control of air pollution in the Yangtze River Delta.

Foreign direct investment and environmental pollution:A fiscal decentralization perspective

Based on the panel data of 272 prefecture-level cities in China from 2003 to 2017,this study used the comprehensive index of environmental pollution to measure local environmental pollution,and employed the panel simultaneous equation to analyze the relationship between fiscal decentralization,foreign direct investment,and environmental pollution.The results showed that environmental pollution has the characteristics of time inertia and positive spatial spillover;fiscal decentralization and local government competition have a significant“race to bottom”effect on environmental pollution;and with the increase of fiscal decentralization,environmental quality will deteriorate.In the interaction between foreign direct investment and environmental pollution under the system of fiscal decentralization,foreign direct investment aggravates environmental pollution.Meanwhile,if the environmental pollution in a given region is serious,the willingness of foreign investors to invest therein is lessened to a certain extent.Based on the conditions in China,certain policy suggestions are put forward to increase environmental quality,such as building a comprehensive performance assessment mechanism that includes environmental quality,optimizing the decentralization system,and raising the threshold of foreign investment access.

Impact of China’s outward foreign direct investment on environmental pollution in the home country

In the context of economic globalization and increasingly tight resource and environmental constraints,the environmental effect of open economy has been highly concerned by the academic community.With the implementation of the“Going Global”campaign and the“Belt and Road Initiative”,China’s OFDI has been expanding.What is the impact of the rapid growth of OFDI on the home environment?How can China improve the quality and level of OFDI in order to promote domestic green development under the dual context of constructing a new dual circulation development pattern and advocating green development?These questions deserve further discussion.Most of the existing literature focuses on the empirical interpretation of OFDI’s home country environmental effect by using linear models,while few involve nonlinear models.The literature on the important role of financial development in home country and the threshold effect of OFDI on home country environment is even less common.In view of this,based on the mechanism of argumentation and propositional inference,this paper calculated the environmental pollution index of 30 provinces in China from 2003 to 2017 by using China’s provincial panel data of these years and selecting industrial waste water,industrial waste gas,industrial SO_(2),and industrial soot emissions and industrial solid waste production amount index.Then,this paper empirically studied China's OFDI home environment of financial development threshold effect by constructing financial development as the threshold variables panel threshold model.The results showed that:①China’s OFDI had a significant impact on the environment of the home country,based on the level of financial development of the home country.When China’s financial development level was lower than the first threshold value,China’s OFDI had a significant restraining effect on environmental pollution in the home country.When China’s financial development level crossed the first threshold value but did not exceed the second threshold value,China’s OFDI significantly enhanced its inhibiting effect on environmental pollution in its home country.When China’s financial development level was higher than the second threshold value,the inhibiting effect of China’s OFDI on environmental pollution in the home country was further enhanced.②In the sample period,the financial development level of most provinces in China was not high.Only a few provinces with high financial development level had a strong inhibiting effect on environmental pollution in their home country,and the provinces with a high degree of coupling and coordination between OFDI and financial development tended to have a low level of environmental pollution.Accordingly,this paper proposes to optimize the financial service environment of OFDI,improve the green technology content of OFDI,and strengthen the original innovation and re-innovation ability of green technology.

OFDI与区域碳排放的非线性关系——基于技术创新的门槛效应研究

随着我国外部市场的扩大和经济对外开放政策的推进,对外直接投资(OFDI)呈现出迅猛增长的趋势。然而,由于过去采用粗放式增长模式,生态环境发展不充分,且由于“双碳”目标政策的实施,碳排放已成为对环境产生重大影响的关键因素,并被纳入总排放控制体系。基于此,本文选取中国2005—2019年30个省份(西藏、港澳台地区除外)的面板数据进行分析。结果表明,在不考虑技术创新作为门槛变量的情况下,整体上我国OFDI对本地碳排放具有显著的抑制作用。然而,在引入技术创新作为门槛变量后,处于技术创新水平较高的地区通过加大OFDI带来的逆向技术溢出效应可以降低本地区碳排放水平;中等技术创新水平的地区增大OFDI反而会增加地区碳排放;较低技术创新水平的地区对外直接投资的碳减排效应则不显著,OFDI对区域碳减排效应存在门槛。文章提出建议:技术创新水平较高地区进一步加大对外开放力度,充分发挥OFDI的逆向技术溢出效应;技术创新水平较低地区扩大OFDI规模,优化调整OFDI结构,坚持绿色导向型OFDI,积极引进国外先进技术、管理经验等,缓解全球温室效应等问题。

基于异质性环境规制视角下FDI对碳排放的影响研究

本文利用2000-2015年我国30个省区面板数据,运用面板模型和门槛模型估计方法,考察异质性环境规制下FDI对碳排放的影响研究,得出如下结论:第一,在不考虑环境规制情况下,FDI与碳排放总量呈现正相关;第二,在命令控制型环境规制下,FDI整体不利于中国的碳排放事业,且在较高的环境规制水平下,环境规制的约束力已经完全失去作用,FDI对碳排放的促进作用呈现恶性增加;第三,在市场激励型环境规制下,FDI与碳排放之间呈现一种“U”型关系,随着环境规制的强度不断上升,FDI对碳排放由抑制作用转变为促进作用,本质上是市场激励型环境规制约束作用失效;第四,在公众自愿型环境规制下,FDI整体增加了中国碳排放总量,且随着公众自愿型环境规制的强度增加,FDI对碳排放的促进作用加强。

A study on the factor market distortion and the carbon emission scale effect of two-way FDI

Based on the data of 30 Chinese provinces for the period from 2004 to 2015,this paper expounds the carbon emissions effect of two-way foreign direct investment (FDI) from the perspective of scale effect and factor market distortions.This study uses Kaya identity to decompose carbon emission and construct simultaneous equations model to empirically examine the factor market distortion and the carbon emission scale effect of two-way FDI.The results show that the inward foreign direct investment (IFDI) increase regional carbon emission through scale effect and also exacerbates factor market distortion in China,whereas the outward FDI trends reduce carbon emission and reduces factor market distortions in China.The study also shows that human capital,research and development (R&D),trade openness,and capital accumulation are important determinants of two-way FDI.Therefore,the study proposes that IFDI policies should focus on acquiring green technologies.In addition,the domestic enterprises should be encouraged to participate in global business.

Nexus between selected macroeconomic variables and carbon emission in Kenya

Agriculture is not only influenced by climate change,but it is also one of the significant contributors of CO_(2) emission.Understanding CO_(2) emission and macroeconomic variables is critical to solving the challenges and threats faced by Kenya’s agriculture and environment.This study used the Environmental Kuznets Curve(EKC)hypothesis and the autoregressive distribution lag model(ADLM)to analyze the relationships of CO_(2) emission with agricultural output,government direct investment,trade openness,and inflation rate in Kenya from 1983 to 2019.The study found that there exists a positive(direct)relationship between CO_(2) emission and foreign direct investment in the long run in Kenya.Additionally,CO_(2) emission and trade openness have a negative(indirect)and statistically significant relationship after the error correction term adjustment in the long run.Moreover,the relationship between CO_(2) emission and agricultural output is positive(direct)and statistically significant in the long run.There is a positive(direct)and statistically insignificant relationship between CO_(2) emission and inflation rate in the short run.Notably,the EKC hypothesis indicated that the Kenya’s economy is still on the environmental degradation trade-off through the gradual increase of both CO_(2) emission and agricultural output.Our results are important to Kenya’s economy because the derived insights will assist in relevant departments to formulate sustainable strategies to minimize environmental degradation.

FDI的环境效应:“污染光环”抑或“污染天堂”?——基于面板ARDL-ECM模型的实证检验

构建ARDL-ECM模型,在全国样本和东、中、西地区样本下对外商直接投资(FDI)对碳排放的长期和短期影响进行实证检验。研究发现:(1)FDI对我国碳排放的影响具有明显的地区差异,其中东部地区支持了“污染天堂”假说,其他地区则支持了“污染光环”假说。(2)FDI对碳排放的长期效应与短期效应差异显著。(3)二氧化碳排放的规模效应显著为正,技术进步效应和结构效应显著为负,且东部地区FDI对碳排放的促进作用主要源于较大的规模效应以及较小的技术进步效应。(4)FDI是二氧化碳排放的格兰杰原因,且FDI与GDP、技术进步和产业结构互为因果关系,其他因素通过与FDI的相互作用影响碳排放,为将FDI的碳排放效应分解为规模效应、技术效应和结构效应提供了实际依据。

对外直接投资对我国碳排放的影响——基于多重中介效应模型的分析

中国的碳排放具有显著的产业与空间集中性,对外直接投资会改变要素配置、影响高排放产业与高排放区域布局。中国持续扩大的对外直接投资是否促进了本国碳减排?首先,对对外直接投资影响母国碳排量的经济规模、产业结构、技术水平3个主要途径进行理论推导和分析,提出待检验的假说。其次,选取我国2005−2019年省际面板数据,建立多重中介效应模型,实证检验对外直接投资对我国碳排放影响的3种效应和综合效应,发现对外直接投资通过经济规模和技术水平中介机制,不同程度地加剧我国碳排放,通过产业结构中介机制会抑制我国碳排放;经济规模和技术水平效应大于产业结构效应,故对外直接投资最终会加剧我国碳排放。最后,基于结论提出相关建议。

外商直接投资、技术水平与城市雾霾污染——基于中国276个地级市的动态空间面板数据分析

在环境经济学理论中,污染避风港假说(Pollution Haven Hypothesis)认为国外资本的引入会给东道国的生态环境带来负面影响,这一现象尤其容易发生在发展中国家。而大规模的外资引进正是我国自改革开放以来的重要经济特征之一。同时,我国许多城市的雾霾污染问题也在经济发展过程中日益凸显,并且其中不少城市往往拥有着较高的外资利用水平。为探寻外资引入是否对我国的生态环境产生了负面影响,文章使用广义空间两阶段最小二乘法(GS2SLS)和基于光学卫星空间遥感获得的城市雾霾污染数据,对2004—2018年中国276个城市的外商直接投资、技术水平与雾霾污染之间的关系展开实证分析,并对其中传导机制进行了深入研究。实证研究结果表明:就全国整体而言,外商直接投资的资本存量与雾霾污染之间存在显著的正相关关系,而技术水平则与雾霾污染之间存在显著的负相关关系。在控制内生性问题后,具体数值计算结果显示:城市外商直接投资存量每增加1%,PM2.5年均浓度值会上升0.045%,而城市专利授权数量每增加1%,PM2.5年均浓度值则会下降0.041%;区域异质性分析中,中部城市的外商直接投资对雾霾污染加剧作用大于东部与西部城市,而西部城市的技术水平上升带来的减霾效果要大于东部与中部城市;同时,雾霾污染在中国存在空间上的溢出效应与时间上的叠加效应,意味着雾霾污染可以在城市之间转移,并有随时间逐步恶化的趋势;进一步的中介效应模型的研究结果显示,外商直接投资的进入对国内技术起到了负向的溢出效应,抑制了城市技术水平的提升,进一步导致了雾霾污染的加剧;而门槛效应模型的结果表明,城市技术水平每越过一个更高的门槛值,外商直接投资对于雾霾污染的加剧影响都将会有所下降。因此,为实现我国城市雾霾污染的治理,国家首先应对外商直接投资制定严格的准入标准,严格管控污染型外资流入。加强在技术研发领域的投入,积极推动本土企业与外资企业相互协作,提升中国企业对国外先进技术的学习能力,着重推动本国技术发展进程,从而更好发挥技术进步对我国雾霾污染的改善作用。

碳排放权交易对制造业绿色全要素生产率的影响研究

随着“双碳”目标的提出,碳排放交易系统(ETS)如何影响高碳排放行业,如制造业的绿色全要素生产率(GTFP)增长逐渐成为一个重要研究话题。双重差分法是近年来识别碳排放权交易与制造业绿色全要素生产率之间关系的常用研究方法。以2014年开始试点的碳排放权交易政策为准自然实验,研究显示,碳排放权交易政策能够显著促进我国制造业的绿色全要素生产率提升。进一步研究发现,碳排放权交易能够通过筛选外商对内直接投资(IFDI)的质量,进而对绿色全要素生产率产生积极作用。稳健性检验表明,在考虑双重差分法设定条件、平行趋势检验、反事实检验、更改倾向得分匹配方法等后,碳排放权交易对我国制造业绿色全要素生产率的积极作用依然成立。

中国对外直接投资的碳排放效应研究——基于空间杜宾模型

本文基于2003-2020年中国对外投资面板数据,从理论和实证两方面探讨中国对外直接投资对全球碳排放的影响。结果显示,中国对外直接投资能显著降低东道国碳排放量,存在“污染光环”效应,即中国投资是环境友好型投资。中国投资对“一带一路”和非“一带一路”沿线国家的碳排放影响存在显著差异,对“一带一路”沿线国家投资更能降低东道国碳排放效应,比非“一带一路”沿线国家多降低东道国碳排放量0.008个百分点。进一步研究发现,中国对外直接投资主要通过结构效应和技术效应来抑制东道国碳排放量,而规模效应未产生显著影响,在稳健性检验下该结论仍然成立。建议宏观上持续深化国际经济合作的广度和深度、积极宣传和推广中国境外直接投资的绿色效应,微观上进一步规范和引导中国企业境外投资。

中国对外直接投资的碳排放强度研究——基于省级经济政策不确定性视角

运用中国省级面板数据,在经济政策不确定性视角下,考察对外直接投资(OFDI)对母国碳排放强度的影响。主要结论如下:(1)总体来看,对外直接投资对我国各省份碳排放强度呈显著的抑制作用,省级经济政策不确定性因素亦显著负向影响碳排放强度。同时,对外直接投资对碳排放强度的抑制作用会随着经济政策不确定性的提升而被削弱。(2)中国对外直接投资的碳排放强度效应呈现出中部、东部、西部“渐次弱化”的区域演变特征,可能是各地区不同的产业结构对投资的碳排放效应及政策调整频率的敏感度存在差异所致。(3)中国对外直接投资对母国碳排放强度的影响具有显著的门限效应。当经济政策不确定性小于门限值时,对外直接投资对母国碳排放强度的抑制效应表现出进一步“强化”的作用;当经济政策不确定性大于门限值时,这种“强化”作用消失殆尽,甚至出现反向“削弱”作用。

中国双向FDI协调发展的碳减排效应

该研究依据Copeland-Taylor构建的贸易环境效应一般均衡模型的分析框架,对双向FDI协调发展影响碳排放的作用机理进行阐释,然后基于2003—2020年中国30个省份双向FDI与碳排放数据,采用空间面板模型和Han-Phillips广义矩估计方法测度中国双向FDI协调发展的碳减排效应,并引入中介效应模型探讨其影响机制,最后进一步通过对空间模型求偏微分考察其空间溢出效应。研究发现:(1)中国双向FDI协调发展可以显著抑制中国碳排放水平的提高,碳排放高高聚集和低低聚集的空间分布及时间路径依赖特征显著,且经过稳健性和内生性检验后结果仍然成立。(2)异质性分析发现,东部地区双向FDI协调发展的碳减排作用最为明显,中部地区次之,而西部地区对碳排放影响的回归结果不显著,这主要与东部地区双向FDI协调发展水平最高、中部地区次之、西部地区一直处于极度失调状态有关。(3)影响机制的检验结果表明,双向FDI协调发展一方面通过提高资本劳动比降低碳排放水平,另一方面通过推动产业规模扩张和生产性技术水平提升对碳排放产生积极影响,但在结构效应、规模效应和技术效应的共同作用下,最终对碳排放具有显著的抑制效果。(4)空间溢出效应分析发现,中国各省区双向FDI协调发展水平的提高不仅对本地区的碳排放具有抑制作用,而且对邻近地区乃至全国的碳排放都具有抑制作用。针对以上研究发现,认为应做好双向FDI发展的协调工作,建立区域经济协同发展与污染治理联防联控的长期作用机制,进一步挖掘结构效应的减排效应,并鼓励引导技术进步向污染治理偏重。

Exploring the moderating role of financial development in environmental Kuznets curve for South Africa:fresh evidence from the novel dynamic ARDL simulations approach

The extant literature has produced mixed evidence on the relationship between finan-cial development and ecological sustainability.This work addresses this conundrum by investigating financial development’s direct and indirect consequences on ecologi-cal quality utilizing the environmental Kuznets curve(EKC)methodological approach.Our empirical analysis is based on the novel dynamic autoregressive distributed lag simulations approach for South Africa between 1960 and 2020.The results,which used five distinct financial development measures,demonstrate that financial develop-ment boosts ecological integrity and environmental sustainability over the long and short terms.In the instance of South Africa,we additionally confirm the validity of the EKC theory.More importantly,the outcomes of the indirect channels demonstrate that financial development increases energy usage’s role in causing pollution while attenuating the detrimental impacts of economic growth,trade openness,and foreign direct investment on ecological quality.Moreover,the presence of an inadequate financial system is a requirement for the basis of the pollution haven hypothesis(PHH),which we examine using trade openness and foreign direct investment variables.PHH for both of these variables disappears when financial development crosses specified thresholds.Finally,industrial value addition destroys ecological quality while tech-nological innovation enhances it.This research provides some crucial policy recom-mendations and fresh perspectives for South Africa as it develops national initiatives to support ecological sustainability and reach its net zero emissions goal.

环境污染是否阻碍了外资结构绿色转型?

基于城市层面和微观企业层面的数据,本文以大气逆温和政府环境治理作为环境污染的工具变量,探讨污染对外资结构绿色优化的影响。研究结果表明:环境污染与外资流入之间存在明显的倒“U”型关系,但这种倒“U”型关系仅表现在中西部地区,东部地区污染的加重会减少外资的持续流入;污染主要加重了清洁型外资的流出,从而不利于地区外资结构绿色优化调整;人才流失和效率损失是清洁型外资出走的重要原因。政府环境治理在治污中发挥着重要作用,“先污染后治理”的发展道路不利于地区引资结构绿色转型,环境治理一定程度上能够促进外资结构的绿色优化调整。

基于环境规制视角分析外商直接投资对中国碳排放污染的影响

21世纪以来,中国外商直接投资流入规模逐年增加,2020年首次超过美国成为了最大外资流入国。外商直接投资流入伴随着污染转移、技术转移与结构转移,对中国碳排放产生了复杂影响。外商直接投资流入是否增加了中国的碳排放环境负荷,日趋严格的环境规制是否改变这一效应,为回答以上问题,将环境规制作为调节变量,基于1998−2017年省级面板数据,使用空间杜宾模型分析外商直接投资对中国碳排放的影响。研究发现:一定规模内的外商直接投资流入在中国整体上呈现出“污染光环”效应,即减少了碳排放,到达拐点后会呈现为相反的增排效应;外商直接投资流入对相邻地区碳排放的溢出效应大于对本地区碳排放的直接效应,作用方向分别呈现为倒U型和U型;环境规制的调节作用主要表现为反作用力,缓冲碳排放量的猛增与猛减。

外商直接投资对河北省碳排放的影响研究——“污染光环”抑或“污染天堂”

外商直接投资(FDI)是经济增长的关键要素,河北省在大力引入外资推动经济发展经济的同时,会对本地区碳排放产生一定的作用,厘清二者之间的影响机理,对河北省顺利实现双碳目标具有较高参考价值。首先,选取河北省内各地市的相关数据作为研究对象,运用固定效应模型对FDI与碳排放之间的内在联系进行论证,结果表明:河北省FDI与碳排放存在显著的正相关,城市创新能力提升可有效缓解FDI对碳排放的促进作用。其次,运用面板门槛模型,以政府干预和人口密度为门槛变量,发现FDI对碳排放强度存在显著的政府干预双门槛效应和人口密度单门槛效应。最后,在河北引进外资的过程中,要提高准入门槛,同时注重城市创新力培养和高级人才队伍建设,推动本省FDI与节能减排协调发展。