School of Economics, Shandong Normal University, Jinan, China.
School of Economics and Management, Nanchang University, Nanchang, China.
Environ Sci Pollut Res Int. 2021 Jul;28(26):34868-34884. doi: 10.1007/s11356-021-12930-w. Epub 2021 Mar 4.
Outward foreign direct investment (OFDI) in an open economy has gradually become an important source of green innovation (GI). With the rapid development of China's OFDI, this research studies the impact of OFDI on the country's GI, employing panel data of 30 provinces from 2006 to 2017. We first use the Super-SBM model to measure GI performance and then test the impact of OFDI on GI with the system GMM model. Evidence finds that the negative impact of OFDI on GI is not significant on the whole, but the results of regional regression show that impact of OFDI on GI exhibits obvious regional differences. We then utilize the dynamic threshold panel model to determine the non-linear relationship between OFDI and GI through the perspective of environmental regulation in order to avoid the bias caused by ignoring the impact of institutional factors and time dynamic change. After dividing environmental regulations into command control environmental regulation and market incentive environmental regulation, the research results show that the double threshold effects of both environmental regulations are significant. Command control environmental regulation does not play a role in promoting the effect of OFDI on GI. When the intensity of market incentive environmental regulation is low, OFDI negatively affects GI. Moreover, only when the market incentive regulation shows high intensity can OFDI significantly promote GI. With the continuous growth of China's OFDI, it is therefore necessary to determine the appropriate environmental regulation to improve the reverse spillover effect of OFDI enterprises on the country's GI.
外向型外国直接投资（OFDI）在开放经济中逐渐成为绿色创新（GI）的重要来源。随着中国 OFDI 的快速发展，本研究利用 2006 年至 2017 年的 30 个省份的面板数据，研究了 OFDI 对中国 GI 的影响。我们首先使用 Super-SBM 模型来衡量 GI 绩效，然后使用系统 GMM 模型来检验 OFDI 对 GI 的影响。证据表明，OFDI 对 GI 的总体负面影响并不显著，但区域回归结果表明，OFDI 对 GI 的影响存在明显的区域差异。然后，我们利用动态门槛面板模型，从环境监管的角度确定 OFDI 和 GI 之间的非线性关系，以避免忽略制度因素和时间动态变化的影响而产生的偏差。在将环境监管划分为命令控制环境监管和市场激励环境监管之后，研究结果表明，两种环境监管的双重门槛效应均显著。命令控制环境监管在促进 OFDI 对 GI 的影响方面没有作用。当市场激励环境监管强度较低时，OFDI 会对 GI 产生负面影响。而且，只有当市场激励监管表现出高强度时，OFDI 才能显著促进 GI。随着中国 OFDI 的不断增长，因此有必要确定适当的环境监管措施，以提高 OFDI 企业对国家 GI 的逆向溢出效应。
