环境分权之于外商直接投资区位选择的影响  

The Impact of Environmental Decentralization on the Location Choice of FDI

作　　者：李国祥 张伟 LI Guo-xiang;ZHANG Wei(School of Public Economics and Administration,Shanghai University of Finance and Economics,Shanghai 200082,China;School of Business,University of Jinan,Jinan 250022,China)

机构地区：[1]上海财经大学公共经济与管理学院,上海200082 [2]济南大学商学院,山东济南250022

出　　处：《现代财经（天津财经大学学报）》2019年第8期36-50,共15页Modern Finance and Economics：Journal of Tianjin University of Finance and Economics

基　　金：国家社会科学基金重大项目(15ZDB163);教育部人文社会科学研究规划基金项目(15YJAZH110)

摘　　要：外商直接投资是促进经济发展的重要推动力,将环境分权和外商直接投资纳入同一分析框架,在深入研究环境分权对外商直接投资的作用机理的基础上,以2008-2015年中国30个省级行政区(西藏和港澳台除外)的面板数据为样本,利用固定效应模型和门槛回归方法实证分析环境分权对外商直接投资区位选择的影响。发现:外商直接投资会逐渐向环境分权水平较高的地区流动;环境行政分权对吸引外商直接投资有显著的促进作用,而环境监察分权和环境监测分权则主要以抑制作用为主。随着环境分权水平提高,相对于经济欠发达地区而言,经济较发达地区在吸引外商直接投资方面更具优势;高排放强度地区的环境分权对外商直接投资有显著的积极作用,但在低排放强度地区,积极影响则不显著。在环境分权影响外商直接投资过程中,环境规制的中介效应占比为3.36%,即环境分权可以通过降低环境规制强度来吸引外商直接投资。Foreign direct investment(FDI)is an important driving force to promote economic development.This paper incorporates environmental decentralization and foreign direct investment into the same analytical framework.On the basis of in-depth study of the influence mechanism of environmental decentralization on FDI,this paper used the panel data of 30 provincial administrative regions in China(except Tibet,Hong Kong,Macao and Taiwan)from 2008 to 2015 to empirically analyze the impact of environmental decentralization on location selection of FDI with fixed effect model and threshold regression method.The conclusions are as follows:(1)FDI will gradually flow to areas with a high level of environmental decentralization;environmental administrative decentralization has a significant role in promoting FDI,while environmental inspection decentralization and environmental monitoring decentralization mainly focus on inhibition;(2)With the improvement of environmental decentralizationlevel,the economically developed regions have more advantages in attracting FDI than the economically underdeveloped regions;the environmental decentralization in high emission intensity regions has a significant positive effect on FDI,but in low emission intensity regions,the positive effect is not significant;(3)In the process of environmental decentralization affecting FDI,the intermediary effect of environmental regulation accounts for 3.36%.Environmental decentralization can attract FDI by reducing the intensity of environmental regulation.Therefore,we should formulate differentiated environmental decentralization strategies according to local conditions,raise the entry threshold of foreign direct investment gradually,deepen the reform of environmental management system,divide the environmental management power between central and local governments rationally,improve the intensity of environmental regulation and formulate strict environmental standards.

关 键 词：环境分权 环境规制 外商直接投资 环保督查 

分 类 号：F832.6[经济管理—金融学]