FDI、environmental Regulation And Green Technology Innovation

With the advancement of reform and opening up,China’s economy has grown rapidly,and green technological innovation is the key to improving the quality and efficiency of economic development and protecting the environment.On the one hand,China’s green technology innovation and international technology spillovers are dependent to a certain extent,that is,Chinese companies mainly adopt "introduction-digestion-absorption" or "introduction-digestion-absorption-recreation" of international advanced green technologies Absorb and transform to achieve the purpose of improving domestic green technology innovation level.On the other hand,as FDI is accompanied by the inflow of advanced green technologies,the ecological and environmental pollution has also been seriously affected,and it should be given sufficient attention.Improving the level of green technology innovation of Chinese enterprises and improving the ecological environmental protection system and mechanism have become an important task for the coordinated development of economic development and ecological protection.The rational introduction of the FDI structure,the control of FDI quality,and the realization of "absorption-transformation" through international green technology spillover One of the important measures to improve the level of green technology and develop ecological economy.Therefore,it is necessary to study the relationship between FDI,environmental regulation,green product innovation and green process innovation,discuss the introduction of structural optimization of FDI,and establish a reasonable level of environmental regulation in order to improve the level of green technology innovation of Chinese enterprises and promote the green development of China’seconomy.This paper selects the panel data of 30 provinces and cities in China from 2004 to 2017.First,construct a theoretical framework for the direct and indirect impact of foreign direct investment on green technology innovation and the regulatory role of environmental regulation in the process of FDI’s impact on green technology innovation.And put forward research hypothesis based on theoretical analysis.After that,construct a measurement benchmark model,design variable indicators,use provincial dynamic panel data and system GMM methods,and use Stata 15.1 to empirically study the direct and regulatory effects of FDI and environmental regulations and their interactions on China’s green technology innovation.Test the theoretical hypothesis and explore the regional heterogeneity of the relationship between the three.The research results show that:(1)FDI and environmental regulations have a significant positive direct impact on green product innovation and green process innovation.(2)The interaction of FDI and environmental regulation reversely regulates the impact of FDI on corporate green product innovation and green process innovation.That is,under the influence of environmental regulatory policies,FDI has weakened the ability of green technological innovation.(3)There is significant regional heterogeneity in the impact of FDI,environmental regulations and their interactions on the two dimensions of green product innovation and green process innovation.Unreasonable FDI introduction structure,“one size fits all”environmental regulation policy,backward economic development level and human capital level lead to the inability of FDI in some areas of China to exert positive green technology spillover effects.The government should,in light of the economic development level,industrial structure,and ecological protection needs of different regions in China,put forward targeted differential FDI introduction policies and environmental regulations to promote the improvement of domestic companies’ green technology innovation levels.