绿色转型过程中新能源示范城市政策对中国外商直接投资的影响研究  

A Study on the Impact of New Energy Demonstration City Policy on China’s Foreign Direct Investment in the Process of Green Transformation

作　　者：易善宇 尹湲湲 Yi Shanyu;Yin Yuanyuan

机构地区：[1]武汉大学马克思主义学院 [2]中南财经政法大学工商管理学院 [3]中南财经政法大学国际商务研究所

出　　处：《宏观经济研究》2022年第11期147-163,175,共18页Macroeconomics

摘　　要：本文以新能源示范城市政策为准自然实验,基于2005—2019年267个地级市的面板数据,采用倾向得分匹配与双重差分模型、空间双重差分模型等实证方法,系统研究了中国绿色转型过程中新能源示范城市政策对中国外商直接投资的影响及其作用机制。研究发现:新能源示范城市政策能够有效地吸引中国地区外商直接投资的流入,在经过一系列的有效性和稳健性检验后,这一结论依旧成立。新能源示范城市政策对外商直接投资的影响因城市地理区位、要素禀赋和发展等级而异,且机制分析表明,新能源示范城市政策通过提高技术创新能力和能源利用效率促进了地区外商直接投资的流入。进一步的拓展研究发现,新能源示范城市政策具有显著的政策溢出效应,其不仅能够促进本地区外商直接投资的发展,还能有效提升邻近城市外商直接投资吸引能力。本文的研究为客观评估能源政策与外商直接投资关系提供了准自然实验证据,丰富了外商直接投资影响因素的已有研究,对深化中国能源政策的改革和调整具有重要的启示意义,进一步体现了全面建设社会主义现代化国家的内在要求。This paper systematically investigates the impact of new energy demonstration city policy on foreign direct investment in China during the green transformation process and its mechanism of action based on the panel data of 267 prefectural-level cities from 2005-2019 using empirical methods such as propensity score matching and differences-in-differences model and spatial differences-in-differences model,using a quasi-natural experiment of new energy demonstration city policy.It is found that the policy of new energy demonstration cities can effectively attract the inflow of regional FDI,and this conclusion still valid after a series of validity and robustness tests.The impact of new energy demonstration city policy on FDI varies depending on the city’s geographical location,resource endowment,and development level,and the mechanism analysis shows that new energy demonstration city policy promotes the inflow of regional FDI through improving technological innovation capacity and energy use efficiency.Further extension studies show that new energy demonstration cities policy has significant policy spillover effects,which not only promote the inflow of FDI in the region,but also effectively enhance the FDI attractiveness of neighboring cities.This study provides quasi-natural experimental evidence for objectively assessing the relationship between energy policy and FDI,enriches the existing research on the influencing factors of FDI,and has important implications for deepening the reform and adjustment of China’s energy policy,which further reflects the inherent requirements of building a comprehensive socialist modernization country.

关 键 词：绿色转型 生态文明 新能源示范城市政策 外商直接投资 空间双重差分模型 

分 类 号：F832.6[经济管理—金融学] F426.61F426.2