| Driven by the "Go Globally" strategy,the "One Belt One Road" initiative and a series of national policies that continue to deepen reform and opening up,China has achieved a huge leap in economic development,people’s lives and other aspects.Its economic aggregate has ranked second in the world,and OFDI has continued to grow.However,in the context of rapid industrial development,a large amount of natural resource consumption has led to the destruction of China’s ecological environment,and the pollution problem is becoming increasingly serious.The report of the 20 th National Congress of the Communist Party of China further clarified the specific requirements for high-quality development in China,reaffirmed the goal of "emission peak,carbon neutrality",and green development has become an important concept of China’s economic development in the new era.The efficiency of green innovation is an important indicator to measure the level of green development,and OFDI is an important driving force to improve the efficiency of green innovation in the home country.In recent years,the scale of China’s OFDI has been continuously expanding.In 2020,the flow of OFDI ranked first in the world,and the stock has remained among the top three in the world since 2017.At the same time,in order to further promote green and sustainable development of the economy,China officially levied environmental protection tax on January 1,2018.The implementation of green tax policies has had a significant impact on the OFDI activities of domestic enterprises.Therefore,this thesis comprehensively analyzes the impact of OFDI and green taxation on the efficiency of green innovation,in order to clarify the internal relationship between the three and propose targeted suggestions.This thesis follows the path of "mechanism analysis-current situation description-empirical testing-policy recommendations" and explores the impact of OFDI on China’s green innovation efficiency from both theoretical and empirical perspectives,as well as the regulatory role of green taxation in this process.In theoretical research,this thesis analyzes the mechanism by which OFDI entities promote the progress of green innovation efficiency in their home country through learning imitation,competitive backtracking,marginal industry transfer,and optimized resource allocation,from two perspectives: a country’s reverse gradient OFDI in developed countries and a country’s forward gradient OFDI in developing countries The regulatory role of green taxation in this process was analyzed in two negative directions.In the empirical study,based on the panel data of 30 provinces in China(excluding Tibet,Hong Kong,Macao and Taiwan)from 2003 to 2020,this thesis measures the green innovation efficiency of China’s provinces through the three-stage SBM-DEA model,and empirically examines the relationship between China’s OFDI,green tax and green innovation efficiency using the two-way fixed effect model and the moderating effect model.Based on comprehensive theoretical and empirical research,the main conclusions are as follows: firstly,in recent years,the overall green innovation efficiency in China has been continuously improving,but it is still at a relatively low level,and there is a certain development space;There are obvious regional differences,roughly showing a distribution characteristic of "high in the east and low in the west".Secondly,the coefficient of impact of OFDI on domestic green innovation efficiency is significantly positive,indicating that China’s OFDI has a significant promoting effect on the improvement of domestic green innovation efficiency.After distinguishing green innovation efficiency into two stages: green technology research and development and green achievement transformation,this promoting effect is more significant in the green achievement transformation stage,but not significant in the green technology research and development stage.The reasons for this difference may be the high intensity of technological protection in developed countries and the limited absorption capacity of domestic enterprises.Thirdly,green taxation has a positive moderating effect on the process of promoting domestic green innovation efficiency through OFDI,and the positive effect remains unchanged after distinguishing green innovation efficiency into two stages.Especially in the stage of green technology research and development,after being regulated by green tax,OFDI has shifted from no significant effect to a significant promoting effect.Fourthly,there are regional differences and differences in the level of marketization in the impact of China’s OFDI and green taxation on the efficiency of green innovation.In terms of geographical region,OFDI has a significant promoting effect in the western and northeastern regions,while the eastern and central regions have no significant effect,and there has been no change after adding green tax regulation;At different levels of marketization,OFDI has a significant promoting effect in areas with high marketization levels,while the effect in areas with low marketization levels is not significant.However,after adding green tax regulation,areas with low marketization levels also show a significant promoting effect.Fifthly,in terms of controlling variables,a high level of intellectual property protection will limit the dissemination of green technology,thereby inhibiting the efficiency of green innovation;Based on the important role of high-quality talents in green technology research and development,human capital has played a significant role in promoting the efficiency of green innovation.Based on the above research conclusions,this thesis proposes four policy recommendations:firstly,optimize the domestic green innovation environment and strengthen government support.Secondly,continue to expand the scale of OFDI and optimize the structure of OFDI.Thirdly,continue to collect environmental protection taxes and strengthen the collection efforts.Fourthly,formulate reasonable intellectual property protection policies and proactive talent cultivation policies to promote the research and development and promotion of green technologies. |
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