| China’s economic development mode is facing profound transformation and change.R & D innovation and energy conservation and emission reduction have become an urgent need for China to improve the quality of economic development.Green technology innovation will play a more important role in China’s future development,because it can give consideration to both economic and environmental benefits.With the increasingly close global economic ties and the gradual improvement of China’s opening-up,China’s outward foreign direct investment has maintained a good momentum of sustained growth.How to give full play to the positive effects of outward foreign direct investment to serve the domestic development transformation has become one of the key issues in the new era.At the same time,environmental regulation,as an important policy tool for the government to deal with ecological environment problems,can not be ignored for the impact of regional green technology innovation capacity.From the above background,this paper studies the impact of OFDI on the efficiency of domestic green innovation with the moderating effect of environmental regulation.The main ideas and contents are as follows: firstly,from the four aspects of the concept of green innovation,the impact of OFDI on green innovation,the impact of environmental regulation on green innovation and the combined impact of the two on green innovation,this paper summarizes the existing research results at home and abroad.On this basis,combined with the relevant classical theories,this paper summarizes the mechanism of OFDI’s impact on domestic green technology innovation from four perspectives: marginal industry transfer,low-end production link locking,reverse technology spillover and market competition enhancement.Then the author puts forward research hypotheses.After that,the three-stage DEA-SBM model is used to calculate and analyze the efficiency of regional green innovation in China from 2008 to 2017.Based on the calculation results,the panel data model is used to test the relationship among OFDI,environmental regulation and green innovation efficiency.The results show that: first,the efficiency of regional green innovation in China needs to be improved,and it has the characteristics of "high in the east and low in the west".Second,outward foreign direct investment can effectively promote the domestic green technology innovation capacity.Third,environmental regulation has asignificant positive moderating effect.When considering the impact of environmental regulation intensity,the relationship between OFDI and regional green innovation efficiency shows a positive inverted "U" relationship.Fourth,the regulatory role of environmental regulation shows obvious regional heterogeneity in different regions.Finally,based on the above conclusions,the pertinent policy suggestions are put forward.The innovation points of this paper are mainly reflected in the following aspects: First,unlike most of the existing literature,this paper doesn’t analyze the relationship between outward foreign direct investment or environmental regulation and green technology innovation separately,but brings the three into a unified analysis framework,and expands the analysis perspective of the impact of outward foreign direct investment on domestic technology innovation capacity.Second,this paper attempts to build a theoretical model of the impact of OFDI on the efficiency of domestic green innovation with the the moderating effect of environmental regulations,which can analyze the impact mechanism more carefully.Third,this paper uses three-stage DEA-SBM model to effectively control the impact of exogenous differences and random disturbances,making the calculation results of green innovation efficiency more robust and accurate.Fourth,this paper uses the threshold panel model to empirically test the moderating effect of environmental regulation on the positive effect of OFDI,and deeply analyzes the differential impact of OFDI on regional green innovation efficiency in different regions of the intensity of environmental regulation. |
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