The Environmental Regulation Investment Efficiency And Its Influencing Factors Analysis Of China

This paper first analyzes China’s environmental regulation investment efficiency,including its theory and practical significance, then reorganizes the existing research methods, and analyzes the current situation of China’s environmental regulation investment efficiency, including the source of funds, the investment level and investment structure etc..This paper adopts SBM method in order to analyze the environmental regulation investment efficiency of China based on the input and output factors and the data of thirty provinces from 2000 to 2012.The SBM model can measure bad outputs which traditional DEA model can not weigh. The input variables are environmental regulation investment, number of environmental employees and expenditure of energy.The output variables are industrial gas waste,industrial water waste,industrial solid waste and the GDP,the first three of which are bad outputs.In terms of evaluation sample,we select six administrative region and thirty provinces(not including Xizang because of data availability),in order to realize analysis from overall to individual.In terms of evaluation target,we select environmental regulation total effeciency and investment effeciency,going deep into analysis.The index of total effeciency is the score of SBM model,and the index of investment effeciency is calculated by the slack from SBM model.Then we analys what factors influence environmental regulation investment efficiency,and based on this we propose relavent advices. We let the environmental regulation investment efficiency be the dependent variable, and adopt the Tobit model to analyze its influencing factors.Through the analysis of its influencing factors, we have found that government’s environmental assessment number and the number of environmental-concerned letter have positive impact on the environmental regulation investment efficiency; that government’s implementation condition of ’Santongshi’, pollution discharge fees, the scale of second industry and population growth have negative impact;and that government revenue, environment-concerned vist and R&D expenditure do not have impact on the efficiency.After getting rid of irrelevant variables,this paper adopt Tobit model again to analyse the remaining variables.Baesd on our research, we propose appropriate advices including:which provinces we must pay close attention to and how we improve their environmental regulation effiency.Some effective measures are as follows:enforcing environmental impact assessment,preventing abusing investment during Santongshi respection,improve the skills of government to utilize fiscal revenue,strengthen the awareness of public to inspect environmental investment,scientific research should incline to environmental protection in order to produce more high-effective projects,trans form the path of economic development and so on.Our main contribution rests with two main aspects.First,we chooses adequate inputs,bad and good outputs and apply empirical study to evaluate environmental regulation investment efficiency.Second,we use econometric method to analyse the influencing factors of environmental regulation investment efficiency;it is breakthrough relative to existing study which stays on theories.