| Since 1978,China’s economic aggregate has rapidly expanded through market-oriented economic reforms.The company also has considerable strength to conduct outforward foreign direct investment activities.However,after China began to loosen foreign exchange controls in 2003 large-scale outforward foreign direct investment activities occurred.At the same time,the quality of the domestic environment is from bad to worse.This also makes the Chinese government formulate increasingly stringent environmental protection policies to deal with the deteriorating environmental pollution.Under the background of increasing levels of outforward foreign direct investment and environmental pollution in our country,we explore the relationship between outforward foreign direct investment of enterprises and domestic environmental pollution and environmental regulation.Theoretically,it can enrich the related research on opening up factors and environmental pollution.In practice,on the one hand,it can help Chinese enterprises better carry out overseas investment activities.On the other hand,it can also provide a reference for the government to formulate relevant environmental policies.A large number of studies have shown that international trade and foreign direct investment have an impact on environmental pollution,But it paid less attention to the relationship between outforward foreign direct investment and environmental pollution.This paper examines whether there is an inverted U-shaped relationship between outforward foreign direct investment and environmental pollution by constructing the square of outforward foreign direct investment and the interaction between outforward foreign direct investment and economic size,industrial structure,To put forward whether FDI has an effect on our country’s environment quality through scale effect 、 composition effect and technical effect.Using the panel data of 30 provinces and cities in China during 2003-2014,this paper takes industrial sulfur dioxide emissions and industrial wastewater emissions as the explanatory variables,and focuses on foreign direct investment,provincial and city gross domestic product,secondary industry structure and technological progress.As predominant variable by using empirical analysis.It is found that the overall effect of FDI on environmental pollution depends on the direction and size of the effects of scale,structure,and technology.And through the construction of environmental regulatory intensity indicators for empirical analysis of foreign direct investment,in order to test the impact of environmental regulatory intensity on corporate foreign direct investment.The main content of this paper is arranged as follows: The first chapter is an introduction,mainly expounding the background of the topic and its significance.The second chapter is the literature review.First,we review the literature on openness factors(international trade and foreign direct investment)and environmental pollution;secondly,we review the literature on environmental regulation and foreign direct investment,and review the literature on foreign direct investment and environmental pollution.Finally,on the basis of the conclusion of the literature,the significance and differences proposed in this paper are proposed.The third chapter is the theoretical mechanism analysis of foreign direct investment,environmental regulation and environmental pollution.The fourth chapter is based on the above theoretical analysis,using the panel data of 30 provinces and cities in China to conduct empirical research on foreign direct investment in environmental pollution.And draw empirical results that are basically in line with theoretical expectations.The fifth chapter is an empirical analysis of the impact of environmental regulation on foreign direct investment.Chapter VI is the main conclusions and deficiencies and policy recommendations.Based on the above empirical results,the main conclusions and deficiencies are clarified,and constructive policy recommendations are proposed.The results of this study show that:(1)Foreign direct investment and domestic environmental pollution have an inverted U-shaped relationship.That is,when FDI is relatively small,the increase in direct foreign investment will increase environmental pollution.When the amount of FDI exceeds the threshold,the increase in FDI will reduce environmental pollution.(2)When China has a relatively lower level of economic development,,foreign direct investment will increase the pollution of China’s environment;and when the level of economic development is high,foreign direct investment will improve China’s environment;through the calculation of two kinds of pollutants in the environmental database.At the critical point of the kuznets curve,the provinces and cities(Tianjin,Beijing,Shanghai,Jiangsu,and Zhejiang)with the top five economic development levels in China have not reached the critical value,that is,in the left half of the inverted U-shaped curve.It can be explained that the current level of economic development in China is relatively low,and its role in promoting the scale and quality of foreign investment is insufficient.When the proportion of the secondary industry is relatively large,direct foreign investment will increase the environmental pollution in our country;when the secondary industry has a small proportion,it will reduce pollution;in terms of technological progress,foreign direct investment can improve China’s environment by promoting technological progress.(3)Under different economic conditions,environmental regulation has different effects on foreign direct investment of enterprises;that is,in regions where the technological level and the proportion of the secondary industry are relatively low,the intensity of environmental regulation should be increased to promote direct foreign investment,while areas with higher levels and a higher proportion of the secondary industry should reduce the intensity of environmental regulation and thus promote direct foreign investment.From the above regression results,it can be concluded that the impact of foreign direct investment on domestic environmental pollution is closely related to China’s economic conditions.And under different economic conditions,environmental protection policies formulated in different regions will also have different effects on the direct foreign investment behavior of local enterprises.Under the background of vigorously advocating the development of a green economy in our country,we explore the relationship between foreign direct investment of enterprises and environmental pollution in China.It can not only make useful supplements to the existing research on openness and environmental pollution,but also has the following two aspects: On the one hand,through the regulation of relevant economic conditions,it can help enterprises to better carry out direct foreign investment activities,so as to cross the critical point as soon as possible,and realize the increase of direct foreign investment to improve the domestic environmental quality.On the other hand,the government should not adopt a one-size-fits-all and uniform policy for the formulation of environmental protection policies in various regions.It needs to formulate environmental protection policies according to local conditions.This can not only effectively alleviate the current environmental pollution in China,but also promote the direct foreign investment of enterprises. |
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