FDI是否加剧了中国制造业CO2排放?  

Does FDI Exacerbate CO2 Emissions in China’s Manufacturing Industry?

作　　者：张宽 ZHANG Kuan(School of Economics and Business Administration,Chongqing University,Chongqing 400044,China)

机构地区：[1]重庆大学经济与工商管理学院

出　　处：《财经理论研究》2019年第6期88-102,共15页Journal of Finance and Economics Theory

基　　金：重庆市研究生科研创新项目(CYB18016)

摘　　要：关于外商直接投资(FDI)和东道国环境之间的关系存在“污染天堂”(PHH)和“污染光环”的争论。以往研究多着重于国家或者国家内部地区之间进行探讨,很少从一国细分行业层面展开相关研究,忽视了行业之间的异质性。本文在经典的库兹涅茨(EKC)模型框架下,首次基于中国制造业2003-2014年27个细分行业面板数据,运用双向固定面板模型和可行广义最小二乘法(FGLS)考察了FDI、经济增长、能源消费和能源结构对行业碳排放(CO2)的影响。为了探寻上述影响在不同污染程度之间的行业异质性,进一步将27个细分行业分为重污染行业、中度污染行业和轻度污染行业。研究发现:(1)全样本分析表明,FDI对碳排放具有显著的正向影响,经济增长和CO2之间存在显著倒U型关系,这说明中国制造业行业2003-2014显著支持PHH假说和EKC假说;(2)进一步基于行业异质性分析表明,在重污染行业并没有发现支持“污染天堂”或“污染光环”假说的显著证据,而中度和轻度污染行业则支持PHH假说,同时在重污染和轻度污染行业存在EKC假说,而在中度污染行业经济增长与CO2存在U型关系;(3)人均能源消费量的增加和以煤炭为主的能源消费结构是导致碳排放增加的显著原因,且前者比后者正向作用更大。最后引入外资参与度指标替换核心解释指标人均FDI存量,上述结论具有高度稳健性。这些新的发现,不仅加深了对FDI和CO2关系的认识,还对中国制造业“节能减排”具有重要政策启示。The relationship between the foreign direct investment(FDI)and the host country's environment has been disagreed between the pollution haven and the pollution halo.Previous studies have neglected the heterogeneity of industries,because they focus more on the discussions between countries or national areas,and few studies were carried out from the industry level of a country.In the framework of the classic Kuznets(EKC)model,the effects of FDI,economic growth,energy consumption and energy structure on the industry carbon emissions(CO2)in Chinese manufacturing industry are first examined using panel data of 27 segments in 2003-2014 years in this paper.The fixed effect was confirmed through robust Houseman test,and the inter group heteroscedasticity,intra group autocorrelation and inter group heteroscedasticity were also confirmed in panel data model.Therefore,the two-way fixed panel model and the feasible generalized least square(FGLS)method are used to investigate the effect of FDI on CO2.The results show that Chinese manufacturing industry in 2003-2014 significantly supports the pollution haven hypothesis and EKC hypothesis,indicating that FDI has a significant positive impact on carbon emissions,and there is a significant Inverted U-shaped relationship between economic growth and CO2.Further industry heterogeneity analysis shows that there is no significant evidence supporting the"pollution heaven"or"pollution halo"hypothesis in highly polluting industries,while moderate and mild pollution industries support the PHH hypothesis.Finally,energy consumption and energy structure have positive effect on CO2,and the stronger positive effect than the latter.We also introduce foreign investment participation index to replace the core interpretation index per capita FDI stock,and the above conclusion is highly robust.These new findings not only deepen the understanding of the relationship between FDI and CO2,but also have important policy implications for the"energy conservation and emission reduction"of China's manufactur

关 键 词：FDI CO2 行业异质性 中国制造业 污染天堂 

分 类 号：F062.1[经济管理—政治经济学]