The Impact Of China's Outward Foreign Direct Investment On The Efficiency Of The Green Economy

In the process of economic globalization,the strategy of "going out" has been paid more and more attention by the state,and the pace of OFDI of enterprises is also getting faster and faster.China's OFDI flow increased from US $2.85 billion in 2003 to US $158.29 billion in 2017,an increase of nearly 56 times.At the same time,the 13 th FiveYear Plan clearly proposes to accelerate the pace of ecological civilization construction and environmental governance,build a resource-saving and environment-friendly society,and pay attention to green and low-carbon development.A key indicator is the efficiency of green economy.Facts have proved that OFDI can change the previous phenomena of lack of technology,low production efficiency and focus only on speed but not quality,acquire advanced technology,drive the optimization and upgrading of various industrial structures,and effectively promote green and sustainable development.Therefore,it is necessary to explore the impact of China's OFDI on the efficiency of green economy,both theoretically and practically.Based on this,this paper firstly analyzes the status quo of China's OFDI from three aspects: the scale,location distribution,industry distribution and main body characteristics of OFDI,and USES the super-efficiency model in MAXDEA7.0 software to calculate the efficiency of China's green economy,and analyzes the measurement results according to the provincial and regional levels.Then,on the foreign direct investment and the green economy efficiency is analyzed,the mechanism of effect between showed that foreign direct investment on the home reverse technology overflow,the upgrading of industrial structure and environmental effect,thus affect the efficiency of green economy,and how the foreign direct investment on the home of the three effect is analyzed.Found in the above data,China's foreign direct investment and the economic efficiency of the green trend is different,in the empirical analysis introduces the quadratic term of OFDI,prove the existence of the nonlinear relationship,the empirical part using system GMM model as a parameter to estimate model,using difference GMM model as a robustness test model,using the data of 30 provinces and cities in China,is used to estimate parameters and draw the conclusion: first,the green economy efficiency of spatial heterogeneity;Second,when the scale of China's OFDI is small,it will have a restraining effect on the efficiency of green economy,and when the scale of China's OFDI is expanded to a certain scale,it will have a promoting effect on the efficiency of green economy.Whether to restrain or promote depends on the effects of reverse technology spillover,industrial structure upgrading and environmental effect.Third,in addition to OFDI the level of economic development,urbanization,industrial upgrading,trade openness and energy consumption will also have an impact on the efficiency of the green economy.Finally,according to the conclusion,four countermeasures are put forward.