对外直接投资对母国企业污染排放的影响  

The Impact of Outward Foreign Direct Investment on Pollution Emissions of Enterprises in Home Countries

作　　者：刘晓丹 闫帅[3] LIU Xiaodan;YAN Shuai

机构地区：[1]宁波大学商学院 [2]宁波大学中东欧经贸合作研究院 [3]中国出口信用保险公司国别风险研究中心

出　　处：《国际贸易问题》2023年第2期143-157,共15页Journal of International Trade

基　　金：国家社会科学基金重点项目“‘一带一路’中国跨国企业与海外华商双向互动赋能机理及政策机制创新路径研究”(21AGL005)。

摘　　要：在构建双循环新发展格局及倡导绿色低碳发展的背景下,开放经济的环境效应受到学术界和我国政府的高度关注。随着“一带一路”倡议的深入推进,中国对外直接投资规模日益扩大,然而对外直接投资和母国企业污染排放之间的关系还不明确,尤其是针对新兴市场国家的微观研究十分匮乏。鉴于此,本文检验了对外直接投资对母国企业污染排放的影响及作用机制。研究发现,对外直接投资具有“污染光环”效应,即对外直接投资可以减少企业污染排放,且这种效应存在一定的滞后性和持续性。对外投资企业通过采用更加清洁的生产技术而非加强污染物末端处理的方式实现减排。机制分析显示,技术效应和结构效应是对外直接投资抑制污染排放的重要传导机制。此外,对外直接投资的减排效应具有异质性,对于大中规模企业、重污染企业以及出口平台型对外投资企业而言,对外直接投资具有更强的减排效应。本研究为新发展格局下打赢污染防治攻坚战,实现经济与环境双赢发展提供了新思路。Academics and Chinese policy-makers are paying much attention to the environmental effect of open economy in the background of constructing the“dual circulation”new development pattern and advocating green and low-carbon growth.As“the Belt and Road”Initiative goes deep,China’s outward foreign direct investment(OFDI)grows.However,scholars have generated no consensus so far on the relationship between OFDI and pollution emissions of enterprises in home countries,and there is particularly a lack of micro-level research on emerging market economies.In view of this,the paper empirically examines the impact of OFDI on pollution emissions of enterprises in home countries and the mechanism of action.We find that OFDI has a“pollution halo”effect,i.e.,OFDI significantly reduces pollution emissions of enterprises,and certain lag and continuity exist in this effect.OFDI firms reduce emissions by cleaner technologies instead of end-treatment of pollutants.The mechanism analysis shows that technological effect and structural effect are key channels of OFDI curbing pollution emissions.In addition,there exists heterogeneity in the emission reduction effect of OFDI.For large and medium-sized firms,heavily-polluting firms and firms with the OFDI of export platform,the emission reduction effect of OFDI is stronger.This study inspires the policy practice of battling against contamination and achieving the balance between economic growth and environmental protection in the new development pattern.

关 键 词：对外直接投资 污染排放 技术效应 结构效应 双重差分法 

分 类 号：F742[经济管理—国际贸易]