Research On The Influence Of International Direct Investment On Provincial Green Innovation Efficiency

To take the road of high-quality development,it is necessary to strengthen innovation-drive and adhere to green development.As the combination of“innovation-driven” and “green development”,green innovation is endowed with brand-new era value under the new era background.It shoulders the dual mission of “mountains of gold and silver” and “lush mountains lucid waters”,and becomes the only way to realize high-quality economic development.As an important part of the national green innovation system,green innovation at the provincial level helps to give full play to regional advantages,stimulate the vitality of green innovation,promote the development of local green innovation and help build an environment-friendly innovation country.The promotion of provincial green innovation development depends not only on its own efforts and inter-provincial cooperation,but also on the international market to strengthen international exchanges and cooperation in green technology innovation.As the comprehensive carriers of international flows of capital,technology and other factors,international direct investment has become important way for provinces to utilize external green innovation resources.How to promote the development of IFDI,OFDI and two-way FDI coordination to promote provincial green innovation efficiency has become an important problem to be solved urgently.The problems raised from reality need theoretical responses.Research of scholars on the relationship between international direct investment and provincial green innovation efficiency is mostly based on the single perspective of the host country or the investor country,and the role of IFDI or OFDI is analyzed separately,lacking the research on the influence of IFDI,OFDI and two-way FDI coordination on provincial green innovation efficiency from the integrated perspective of IFDI,OFDI,two-way FDI coordination.Moreover,because of the Characteristics of dual externality of green innovation activities,their smooth inplementation often needs regulation,guidance and supervision.As the important means to control and intervene green innovation behaviors,do formal and informal environmental regulation influence the relationship between international direct investment and provincial green innovation efficiency? In addition,international direct investment is conducive to promoting the adjustment of industrial structure to help green innovation development.Does upgrading of industrial structure play the mediation effect in the process of international direct investment influencing provincial green innovation efficiency?Based on this,this paper puts green innovation efficiency,IFDI,OFDI,two-way FDI coordination,formal environmental regulation,informal environmental regulation and upgrading of industrial structure into the research framework,and explores the influence mechanism of international direct investment on provincial green innovation efficiency.Firstly,the related researches on green innovation efficiency,international direct investment,environmental regulation and industrial structure upgrading are sorted out,and electic theory of international production,investment development path theory,innovation theory and sustainable development theory are expounded,and important theoretical viewpoints are clarified.Secondly,the theoretical model is constructed and research hypotheses are put forward,including the direct effects of IFDI,OFDI and two-way FDI coordination on provincial green innovation efficiency,the moderation effects of formal and informal environmental regulations and the mediation effects of upgrading of industrial structure in this process.Thirdly,the econometric model is constructed,the variables involved in this paper are measured,relevant sample data are collected,and the sample characteristics of the relevant variables are analyzed.Then,according to the collected data,the regression analysis was carried out by Stata statistical analysis software to test the research hypothesis.Finally,based on the empirical analysis results,the research conclusions are drawn,corresponding suggestions are put forward,and the shortcomings and future research directions of this paper are pointed out.Through empirical analysis,this paper draws the following conclusions: firstly,IFDI,OFDI and two-way FDI coordination can significantly promote the improvement of provincial green innovation efficiency.Both IFDI and OFDI have a significant positive influence on provincial green innovation efficiency,and their coordinated development also has a significant positive influence on provincial green innovation efficiency.Secondly,formal environmental regulation enhances the positive influence of OFDI and two-way FDI coordination on provincial green innovation efficiency,but it cannot enhance the influence of IFDI on provincial green innovation efficiency.Thirdly,informal environmental regulation enhances the positive influence of IFDI,OFDI and two-way FDI coordination on provincial green innovation efficiency,and plays the moderation effects.Fourthly,the upgrading of industrial structure plays a partial mediation effect in the process of IFDI,OFDI and two-way FDI coordination influencing provincial green innovation efficiency.In view of the above research conclusions,this paper puts forward the following policy suggestions: firstly,relevant department should timely adjust the international direct investment policy,improve the quality of inward foreign investment,encourage technology-seeking outward direct investment,coordinate “bringing in” and “going out” as a whole,promote the coordinated development of two-way FDI,and effectively promote the improvement of provincial green innovation efficiency.Secondly,relevant department should improve environmental protection laws and regulations,introduce environmental protection subsidy policies,establish and consummate formal environmental regulation systems,strengthen environmental supervision and inspection,and create a good institutional environment for green technology spillovers and green innovation activities.Thirdly,relevant department should strengthen public education on green environmental protection,raise public awareness of environmental protection,guide them to actively participate in environmental supervision,improve the level of informal environmental regulation,and“escort” the development of green innovation.Fourthly,relevant departments should handle the relationship between OFDI transferring marginal industries and IFDI undertaking new industries,guide the transformation of industrial structure to rationalization and advancement,release the “bonus” of industrial structure upgrading,and accelerate the development of green innovation.The innovations of this paper are mainly reflected in the following two aspects: firstly,from the research perspective,this paper puts IFDI,OFDI and two-way FDI coordination into the same framework,from the integrated perspective of IFDI,OFDI,two-way FDI coordination,builds a coupling coordination degree model,measures the coordinated development level of two-way FDI,and explores the influence of IFDI,OFDI and two-way FDI coordination on provincial green innovation efficiency.Secondly,in terms of research content,combining with relevant theoretical analysis,this paper puts formal environmental regulation,informal environmental regulation and upgrading of industrial structure into the framework,constructs a theoretical model,and clarifies the influence mechanism of IFDI,OFDI and two-way FDI coordination on provincial green innovation efficiency,which is helpful to provide suggestions for promoting the improvement of provincial green innovation efficiency.