FDI, FINANCIAL PRESSURE AND GREEN TOTAL
ELEMENT PRODUCTIVITY

doi:10.13776/j.cnki.resourcesindustries.20231011.001

Abstract

Abstract:

China ‘s economy is in a critical transforming period, which is powered by improving environmental pollution and increasing energy use efficiency. This paper, from dual perspectives of financial pressure and FDI, combines financial pressure, FDI and green total element productivity into a united research framework, uses 2003 to 2021 green total element productivity of 30 provinces/cities ‘ panel data in China to establish a SAR, SEM and SDM to experimentally study their relation among FDI, financial pressure and both with green total element productivity and spatial effects. Green total element productivity, FDI and financial pressure are highly spatially correlated. Financial pressure and FDI adversely affect the increment of total green element productivity, but their interaction works positively. FDI, financial pressure and their interaction have regional spatial heterogeneity on green total element productivity. The eastern China ‘s FDI increases green total element productivity through blocking neighboring ‘s green total element productivity, while financial pressure and their interaction constraint it. The central-western China ‘s FDI and financial pressure constraint increasement of green total element productivity, but their interaction and spatial overflowing can promote it. FDI, financial pressure and their interaction have obvious temporal heterogeneity on green total element productivity, outstandingly positively correlated during 2003 to 2008, strikingly negatively during 2009 to 2021 while their interaction positively. This paper presents suggestions on increasing FDI ‘s quality, using pollution halo effect to increase green total element productivity, raising local governmental financing power to economically support green economic transformation, establishing regional cooperation on controlling pollution.

Key words:

FDI, financial pressure, green total element productivity, spatial counting model

摘要： 中国经济处于发展转型的关键时期，改善环境污染、提高能源利用率是实现经济转型的重要举措。基于财政压力与FDI双重视角，将财政压力、FDI与绿色全要素生产率纳入统一分析框架。在理论分析的基础上，基于2003—2021年中国30个省份的面板数据测算绿色全要素生产率，并分别构建空间滞后模型（SAR）、空间误差模型（SEM）以及空间杜宾模型（SDM），实证分析FDI、财政压力及二者交互项与绿色全要素生产率的关系及空间效应。研究结果表明：1）绿色全要素生产率、FDI与财政压力均呈现出显著的空间相关性。2）财政压力、FDI不利于绿色全要素生产率的提升，两者的交互作用有利于本地区绿色全要素生产率的提升。3）FDI、财政压力以及二者交互项对绿色全要素生产率存在明显的区域空间异质性：东部地区FDI有助于提高绿色全要素生产率，但通过“以邻为壑”阻碍了邻近地区绿色全要素生产率提升，财政压力及二者的交互作用抑制绿色全要素生产率的提升；中西部地区FDI、财政压力抑制绿色全要素生产率提升，而两者的交互作用及其空间溢出作用促进绿色全要素生产率的提升。4）FDI、财政压力以及二者交互项对绿色全要素生产率存在明显的时间异质性：2003—2008年，FDI、财政压力与绿色全要素生产率呈现显著的正相关关系，2009—2021年，FDI、财政压力与绿色全要素之间则呈现显著负相关关系，两者交互作用与绿色全要素生产率呈现正相关关系。基于以上结论，提出如下政策建议：1）需要进一步提高外商直接投资质量，以污染光环效应驱动绿色全要素生产率的提升；2）提升地方政府财权事权匹配水平，为实现绿色经济转型提供强有力的经济支撑；3）构建区域间污染治理合作机制，助推中国经济实现绿色转型。

关键词: FDI, 财政压力, 绿色全要素生产率, 空间计量模型

CLC Number:

F124

ZHU Ruirui, WANG Keliang, ZHANG Fuqin.

FDI, FINANCIAL PRESSURE AND GREEN TOTAL ELEMENT PRODUCTIVITY [J]. Resources & Industries, 2023, 25(6): 77-90.

朱瑞瑞, 汪克亮, 张福琴.

FDI、财政压力与绿色全要素生产率 [J]. 资源与产业, 2023, 25(6): 77-90.

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FDI, FINANCIAL PRESSURE AND GREEN TOTAL ELEMENT PRODUCTIVITY

FDI、财政压力与绿色全要素生产率

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