排污收费标准提高能影响FDI的区位选择吗?——基于SO2排污费征收标准调整政策的准自然实验  

Can environmental regulation influence the location choice of FDI in China?--a quasi-natural experiment of the adjustment policy of SO2 sewage charge collection standard

作　　者：吕朝凤 余啸 LYU Chao-feng;YU Xiao(School of Public Finance and Taxation,Southwestem University of Finance and Economics,Chengdu Sichuan 611130,China;School of Economics,Southw estern University of Finance and Economics,Chengdu Sichuan 611130,China)

机构地区：[1]西南财经大学财政税务学院,四川成都611130 [2]西南财经大学经济学院,四川成都611130

出　　处：《中国人口·资源与环境》2020年第9期62-74,共13页China Population,Resources and Environment

基　　金：国家社会科学基金项目“基于不完全契约的金融市场化改革对经济增长的影响效果及机制研究”(批准号:17BJL035)。

摘　　要：限制污染物的排放、提升环境质量、建设绿色现代化国家,已成为中国可持续发展的一项长期目标。环境规制强度也必然会随时间不断强化。全面评价环境规制强度的提高对FDI的影响效果,将为今后的政策制定提供参考。由于“污染总量控制”与“污染当量控制”的影响效果存在差异,本文以1995-2017年中国城市数据为样本,利用SO2排污费征收标准调整这一准自然实验,采用双重差分(DID)、倾向得分匹配(PSM)和非线性估计等方法,考察了以该政策为代表的“污染当量控制”型环境规制对FDI区位选择的影响效果。研究结果表明,2007年各省开始实施的SO2排污费征收标准调整政策,对地区FDI的流入有显著的抑制效果,并且通过稳健性检验。这说明,总体上中国环境规制强度对FDI的影响主要表现为“污染天堂效应”。区域异质性分析还表明,该政策对北方城市FDI流入的抑制影响强于南方城市。另外,非线性估计发现,随政策时间的推移和SO2排污费征收强度的提高,SO2排污费征收标准调整对FDI的影响均呈U型特征。这表明,中国环境规制强度对FDI的影响存在多种效应和影响渠道。对此,本文还利用1998-2012年中国工业企业数据,采用三重差分(DDD)等方法进行机制分析。研究发现,该政策对SO2高污染行业FDI具有抑制作用;对高新技术行业FDI具有促进作用;对非SO2高污染非高新技术行业FDI也具有抑制作用,但抑制影响不及SO2高污染行业。这说明,“污染天堂效应”和“污染光环效应”在中国同时成立但适用对象存在差异。这些发现将为我国未来制定环境政策制定提供一定的参考。Limiting pollutant emissions and improving the environment quality to build a green and modern country has been a longterm goal of China’s sustainable development.The environmental regulation intensity will also be strengthened as time goes.Comprehensively evaluating the effects of the improvement of environmental regulation intensity on FDI will provide a reference for the formulation of future policies.As there are differences between the effects of‘pollution total control’and‘pollution equivalent control’,this paper takes the data of Chinese cities of 1995-2017 as a sample,uses the quasi natural experiment of the adjustment policy of SO2 sewage charge collection standard,and adopts the DID,PSM and nonlinear estimation methods to explore the effects of‘pollution equivalent control’environmental regulation represented by this policy on FDI location choice.Result of this study shows that the adjustment policy of SO2 sewage charge collection standard implemented in all provinces since 2007 has obvious inhibitory effects for the entry of FDI in regions,and the conclusion passes a robustness test.It demonstrates that the effects of China’s environmental regulation intensity on FDI are mainly‘pollution havens effects’.According to a regional heterogeneity analysis,the inhibitory effects of this policy on northern cities are stronger than those on southern cities.In addition,the result of nonlinear estimation suggests that during the implementation of the policy and with the strengthening of SO2 sewage charge collection,the impact of the adjustment policy of SO2 sewage charge collection standard on FDI demonstrates a U shape,which indicates that the impact of China’s environmental regulation intensity on FDI has multiple effects and influence channels.To explore it,this study uses China Industrial Business Performance Data of 1998-2012,and carries out a mechanism analysis with the DDD and other methods.The study shows that this policy has inhibitory effects on FDI of SO2 high-polluting industries

关 键 词：排污收费政策 外商直接投资 准自然实验 

分 类 号：F205[经济管理—国民经济]