| Vetical specialization, one of important features of economic globalization, has gradually played the leading role in the international division of labor system in the recent ten years.Under such new mode of labor division, concentration of multinational corporations that was based on the consideration of global value chain was turned to high added value of the production value chain, and gradually manufacturing and other production links that were less competitive were outsourced. This process has provided new opportunities and conditions for manufacturing enterprises of the developing countries to get involved into the global value chain starting from undertaking some middle and low end links of emerging industries.Taking for China for example, there is a big gap in resources abundances and technological capabilities between China and the developed countries.Chinese manufacturing business has been overly dependent on the material resources input and the advantage of lowcost land and labor to participate in international vertical specialization. While facilitating the rapid development of intermediate products trading, they were confronted with increasingly prominent problems in environment pollution and technology upgrade. For environmental concerns, whether the introduction of environmental regulation policies which belong to the social regulation category can stimulate technological innovation of domestic enterprises, if the answer is yes, with the timeliness convergence, China will realize a " win-win" situation in economic development and environmental protection. Conversely, the foreign trade and economic development mode at the expense of environment is unsustainable.To conduct investigation and discussion on this problem, an economic model about the effect of environmental regulation on technological innovation was constructed in this paper based on the perspective of the vertical specialization, to discuss the effect of environmental regulation on the technological innovation direction of enterprises, allocation of element resources and output. On this basis, technological innovation effect of environmental regulation can be divided into two categories:on the production itself and the economy. The internal function mechanism was analyzed, and the effect of vertical specialization and environmental regulation respectively on the enterprise technological innovation performance and green total factor productivity as well as the technological innovation efficiency was analyzed from the perspective of industry characteristic differences and regional differences, taking Chinese manufacturing industry as the research object. In addition to study of the environmental regulation, the incentive effect of different types of environmental regulation tools on technological innovation was also discussed and the discrete counting model was adopted for empirical test, the research showed that:(1) Participation in the international vertical specialization on the whole is beneficial for technological innovation of enterprises in China through acquisition of the technological spillover effect of imported intermediate goods, and forward and backward industrial relevant effect of coordination and distribution. The empirical study of this paper found that from the perspective of the industrial characteristic difference, vertical specialization exerts better function in industries with low concentration, low level of opening up and high level of technology; from the perspective of regional difference, participation in the international vertical specialization has significantly positive effect on technological innovation efficiency of enterprises in the eastern region, but not obvious effect in the central and western regions restricted by the relative lack of human capital and backward infrastructure conditions.(2) Environmental regulation exerts certain incentive role in technological innovation performance through the period effect and strength effect. In this paper, based on the environment input-output model constructed by Julio et al.(2004), CO2content in the intermediate goods imported by China was calculated and introduced into the analysis framework of technological innovation performance. Empirical research of panel data of27manufacturing industries demonstrated that strengthening the environmental regulation can increase the proportion of scientific and technological practitioners and make the patent applications beneficial to improvement of the technological innovation performance of local enterprises, and the effect of carbon emissions of imported intermediate goods and environmental regulation strength on technological innovation performance showed significant difference among heterogeneous industries.(3) Environmental regulation can exert function on technological innovation efficiency through creation of new market demand, influence of enterprise space layout, improvement of communication function and other means. The empirical test of the heterogeneous regions found that the strength of environmental regulation and the overall efficiency of enterprise technological innovation show a relationship of "U" type in the eastern region, inverted "U" type in the western regions, and no significant statistical test "U" type of relationship has not yet formed in the central area. Based on the industrial concentration, mesomeric effect on environmental regulation, industrial concentration, and technological innovation process showed that the effect of environmental regulation on efficiency of two subphase processes of technological innovation were not synchronous in the eastern, central and western economic zones.(4) The cost effect and innovation counter effect present a not simple linear relationship between the green total factor productivity, and the environmental regulation. The empirical research of Chinese manufacturing industry proved that the environmental regulation strength and the green total factor productivity present "U" type relationship on the whole, and regression test to distinguish the clean type sectors from the pollution intensive sectors showed that the positive role of environmental regulation strength present an earlier inflection point on the green total factor productivity of clean type sectors than the pollution intensive sectors.(5) Difference exists among incentive effect of various types of environmental regulation tools on technological innovation. Analysis made in this paper based on introducing theoretical framework of Fisher et al.(2003) showed that in three kinds of environmental regulation tools including emissions tax, free permits and auctioned permits, the identification the environmental regulation policy tool which can maximize the incentive effect of technological innovation depends heavily on integrated balance of the variables among the pollution cost cutting effect, the imitation effect, emission fee payment effect and new patent adopted price effect. Empirical test based on logit measurement model of25industries in Zhejiang Province also showed that incentive effect of environmental regulation tools on technological innovation can be affected by many factors including the economic development level, industry characteristics and external environment.According to the above analysis result, corresponding policy suggestions were put forward in this paper, e.g. encouraging manufacturing enterprise to actively take part in the international vertical specialization; moderate strengthening of the environmental regulation; considering the regional and industrial differences, adopting the differentiated environmental regulation strength, advocating various environmental regulation forms, perfecting the system and mechanism and other supporting policies, etc. |
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