绿色区位导向性政策与外商直接投资:来自国家生态工业示范园区的证据

本文利用199个地级及以上城市2005—2014年的数据,采用渐进双重差分方法实证检验了创建国家生态工业示范园区对外商直接投资的影响。研究结果表明:国家生态工业示范园区的设立对外商直接投资的各项指标均具有显著且稳健的负向影响,该效应的大小在城市行政等级、城市经济地位和城市所在区域等层面存在差异;国家生态工业示范园区的创建显著提高了城市的环境规制水平,导致了外商直接投资的跨城市转移;国家生态工业示范园区的创建还提高了城市科研投入和绿色创新水平,表明这一绿色区位导向性政策在吸引高技术清洁型外商直接投资方面具有较大潜力。

Green Place-based Policy and Foreign Direct Investment:Evidence from China's National Eco-industrial Exemplary Parks

Using data from 199 Chinese cities of prefecture-level and above within 2005 and 2014,and by applying the generalized difference-in-differences approach,this paper studies the effect of China’s National Eco-industrial Exemplary Parks on foreign direct investment.Findings show that the creation of National Eco-industrial Exemplary Parks has significant and robust negative effects on assorted measurements of foreign direct investment.The effect varies by the city’s hierarchical level,economic status and geographical location.Analyses on mechanism show that the creation of National Ecoindustrial Exemplary Parks reinforces the environmental regulation at city level,leading to the transfer of foreign direct investment across cities.Moreover,Eco-industrial Exemplary Parks improve city’s fiscal spending on R&D and level of green innovation,indicating the potential of attracting high-tech and cleaner foreign direct investment.