Research On The Impact Of China's Outward Direct Investment In "One Belt One Road" Countries On Green Total Factor Productivity

Since the“One Belt One Road”initiative was put forward,China's direct investment in countries along the route has continued to rise.From 2013 to 2019,the OFDI stock in the countries along the route has increased from US$72.015 billion to US$1,799.466 billion,and the scale of investment has continued to expand.The continuous growth of OFDI in the countries along the route has a significant effect on China's economic growth.At present,China's economy has entered a stage of high-quality development,and more attention has been paid to the coordinated promotion of economic construction and ecological civilization construction to achieve green and sustainable development.The key to China's green and sustainable development lies in the improvement of green total factor productivity.Therefore,under the conditions of openness,it has important theoretical and practical significance to study the impact of China's foreign direct investment in countries along the“One Belt One Road”on China's green total factor productivity.This article first statistically describes the current situation of China's direct investment in countries along the“One Belt One Road”,and analyzes the characteristics and shortcomings of China's investment in countries along the route.Secondly,combining theory and reality,it deeply studied the influence mechanism of China's OFDI to countries along the“One Belt One Road”on the improvement of green total factor productivity from three levels of enterprises,industries and countries;Thirdly,This paper selects inter-provincial panel data from 2004 to 2017,and uses the GML index based on the SBM direction distance function to analyze the green total factor productivity(GTFP)and its decomposition items of green technology progress(GTC)and green technology efficiency(GEC)of each province in China.Measure and analyze the development level of green total factor productivity in China as a whole and in each region during the observation period.And based on the measurement results,using a fixed effects model to empirically analyze the impact of China's OFDI on the green total factor productivity of the countries along the route from the overall,regional and sub-indices;Finally,this article puts forward countermeasures and suggestions based on theoretical and empirical research.This article draws the following main conclusions:First,the measurement results of green total factor productivity show that China's green total factor productivity level has increased during the observation period,but the increase is not significant enough.In terms of time,after the “One Belt One Road” initiative was put forward,China's overall green total factor productivity growth rate has been improved.From a regional perspective,the development status of green total factor productivity in China's eastern,central and western regions are quite different.The GTFP index in the eastern region has the fastest growth rate;second,China's direct investment in countries along the“One Belt One Road”has contributed to the improvement of green total factor productivity.It has a significant promoting effect.From the point of view of indicators,green total factor productivity is mainly driven by green technology progress,and has no significant impact on the efficiency of green technology.Third,direct investment in countries along the“One Belt One Road”has an impact on China's green total factor productivity.Among them,the green total factor productivity improvement effect on the eastern and central regions is more obvious,and the impact on the western region is not significant.Based on the above research conclusions,this article puts forward policy recommendations from three levels of country,province and enterprise.