Research On The Impact Of Environmental Regulation And Foreign Direct Investment On Green Technology Innovation Efficiency

Environmental issues must be paid much attention in the process of China’s economic development.The concept of green development was first proposed at the Fifth Plenary Session of the 18 th CPC Central Committee.This concept has always been reflected in various economic development policies.Among them,the 14 th five year plan has clearly proposed to adhere to green development.To achieve this goal,we must rely on green technological innovation.Green technological innovation takes into account the dual benefits of the economy and the environment,and can effectively promote China’s economy to achieve green development.Therefore,we must pay attention to improving the efficiency of green technological innovation.Can the environmental regulation be used to correct the externality of green technology innovation and effectively improve the efficiency of green technology innovation? Can we use the expanding scale of foreign direct investment to encourage domestic enterprises to carry out green technology innovation? This paper tries to put forward suggestions after clarifying the impact of environmental regulation and foreign direct investment on the efficiency of green technology innovation.Firstly,this paper summarizes the literature at home and abroad to understand the research status,defines the concepts of environmental regulation and green technology innovation,and determines the classification of environmental regulation and the calculation method of green technology innovation efficiency.Secondly,based on the research results of scholars and relevant theories,this paper analyzes the impact mechanism of environmental regulation and foreign direct investment on the efficiency of green technology innovation,and puts forward research hypotheses.Thirdly,it describes and analyzes the development status of three types of environmental regulation,FDI and green technology innovation efficiency in China,and summarizes the existing problems.Finally,select the macro panel data of 30 provinces in China except Tibet,Hong Kong,Macao and Taiwan from 2008 to 2018.After using the SBM-DEA model to calculate the green technology innovation efficiency,use the panel fixed effect model to study the relationship between heterogeneous environmental regulation,FDI and green technology innovation efficiency,and verify the research hypothesis.In addition,due to the differences in geographical location,natural resources and economic development level between regions,this paper further discusses the different effects of environmental regulation and FDI on China’s green technology innovation efficiency in the eastern,central and western regions.The dependent variable of this paper is China’s industrial green technology innovation efficiency,the independent variable is command control,market incentive and autonomous environmental regulation,and the regulating variable is foreign direct investment.The main conclusions of this paper are as follows:(1)in the empirical study of a full sample of 30 provinces and cities,it is found that the three types of environmental regulation promote the efficiency of green technology innovation;FDI can effectively improve the efficiency of green technology innovation;FDI has played a significant regulatory role in the three types of environmental regulation,and the regulatory direction is positive.(2)In the empirical study of the eastern,central and western regions,it is found that the impact of environmental regulation and FDI on the efficiency of green technology innovation has regional heterogeneity.In the eastern region,command control and market incentive environmental regulation have a significant positive impact on the efficiency of green technology innovation,but independent environmental regulation has no impact on it;FDI has a significant positive impact on the efficiency of green technology innovation in the eastern region;The regulation effect of FDI is only significant in the impact of market incentive environmental regulation on the efficiency of green technology innovation,and the regulation direction is positive.In the central and western regions,command control and independent environmental regulation have a positive impact on the efficiency of green technology innovation,while market incentive environmental regulation has no significant impact;The promotion effect of FDI is not significant in the central and western regions;The regulatory effect of FDI is significant under command control and independent environmental regulation,but not under market incentive environmental regulation.According to the empirical results and conclusions,it is suggested that the government should combine environmental regulation policies and strive to achieve regulatory coordination;Strictly grasp the quality of foreign direct investment and improve the mechanism of foreign capital introduction;Implement environmental regulation policies according to local conditions and deepen regional cooperation mechanisms.