The Research On The Impact Of Two-way FDI On Regional Green Total Factor Productivity From The Perspective Of Human Capital

The report of the 20th National Congress of the Communist Party of China proposed to make "green" the background color of Chinese-style modernization and realize a winwin green economy with economic,ecological and social benefits.Therefore,promoting green and low-carbon economic and social development and improving regional green total factor productivity have become the key links to achieve high-quality economic development in China.As the main driving force of China’s economic development,Twoway FDI not only brings capital effect and technological spillover effect,but also causes serious environmental pollution problems,and the regional human capital level affects the local absorption efficiency and imitation innovation ability of Two-way FDI spillover effect,so scholars have different opinions on whether Two-way FDI can essentially improve regional green total factor productivity.In this context,it is of great significance to study the impact of Two-way FDI on regional green total factor productivity from the perspective of human capital.This paper first defines the concepts of Two-way FDI,human capital and regional green total factor productivity,and analyzes the influence mechanism of Two-way FDI on regional green total factor productivity from the perspective of human capital,and clarifies the influencing factors of improving regional green total factor productivity.Secondly,this paper analyzes the development status of Two-way FDI in China,uses the panel data of 30 provinces and municipalities(including autonomous regions)in China from 2008 to 2020 to calculate the regional DEA-GML index and constructs regional green total factor productivity indicators,and decomposes regional green total factor productivity into comparative analysis of green technology progress and green technology efficiency,and clarifies the development characteristics of green total factor productivity in various regions.Then,the impact of Two-way FDI on regional green total factor productivity and the indirect role of human capital in it are empirically analyzed,and the existence of human capital threshold effect is further analyzed.It is found that:(1)China’s regional green total factor productivity shows an overall upward trend,but the development of interregional development is unbalanced;(2)FDI has a significant negative effect on regional green total factor productivity,OFDI and human capital have a significant positive effect on regional green total factor productivity,and the results are heterogeneous.(3)Human capital significantly inhibits the negative effect of FDI on regional green total factor productivity,significantly promotes the positive effect of OFDI on regional green total factor productivity,and the human capital threshold effect is significant in the impact of FDI on regional green total factor productivity;(4)FDI has a significantly negative impact on green technology progress and green technology efficiency,OFDI has a significantly positive impact on both,while human capital mainly acts on green technology progress.Based on the above research conclusions,this paper provides targeted countermeasures and suggestions for improving regional green total factor productivity,alleviating the imbalance of green development between regions,and improving the level of regional human capital,so as to promote the high-quality development of China’s regional economy.