Research On The Impact Of Industrial Investment Structure On Green Total Factor Productivity In Resource-based Regions

In recent years,China's rapid economic development has played a vital role in investment.However,with the rapid economic development,the consumption of mineral resources has also increased day by day.As a result,a series of environmental pollution and resource waste problems have arisen,which in turn leads to low efficiency of production.Economic development must not only pay attention to environmental protection,but also take into account the innovative development of technology.Green total factor productivity is an indicator that measures the level of green development and technological innovation of a country and region.The study of green total factor productivity has important practical significance.Resource-based regions are the regions with the richest mineral resources.Excessive consumption of resources makes the transformation and green development issues that they face in their development increasingly prominent.The most important thing in the transformation is the adjustment and optimization of the industrial structure.The optimization of the industrial investment structure is particularly important as the prerequisite and foundation for the optimization of the industrial structure.Relying on their abundant resource advantages,resource-based regions tend to focus their investment on the secondary industry.This has led to the slow development of the primary and tertiary industries in resource-based regions.How does the industrial investment structure of resource-based regions affect their green total factor productivity? How to adjust the industrial investment structure to rationalize the ratio of the structure to increase the level of green total factor productivity,and then promote the development of the resource-based regional economy in a green and stable direction? It is hoped that this research will answer the above questions and provide a reference basis for formulating reasonable investment promotion and green development policies for resource-based regions in the future.This research first sorts out the predecessors' selection indicators and measurement methods for green total factor productivity,and proposes the indicators and methods selected in this article;Then clarifies the investment structure,investment theory,and the mechanism of the relationship between fixed asset investment and green total factor productivity.After that,Shanxi Province was used as a representative of resource-based regions to conduct status quo analysis and empirical analysis,and energy consumption and carbon emission factors were introduced as environmental indicators.The DEA method was used to measure the green total factor productivity of Shanxi Province and 11 cities in 2007-2018.The study found that the green total factor productivity of Shanxi Province showed phased characteristics.The GTFP showed a downward trend in 2007-2009 and 2012-2018,and the GTFP showed an upward trend in 2009-2012.The value of GTFP in Shanxi Province and the 11 cities in most of the time periods was less than the value of TFP,indicating that Shanxi Province has made rapid progress in transformation and development,but the level of green transformation and development is still lagging behind.Subsequently,the three major industries in Shanxi Province are divided into 20 industries and the system GMM method is used for analysis.The results it shows that:(1)The investment in agriculture,forestry,animal husbandry and fishery in Shanxi Province played a role in promoting the growth of GTFP;(2)The investment in the six industries included in the mining industry has a restraining effect on the growth of GTFP.Coal mining and washing industry investment has the greatest inhibitory effect on GTFP,followed by investment in non-metal mining and dressing,and ferrous metal mining.Processing investment,non-ferrous metal mining and processing investment;(3)The six industries included in manufacturing investment inhibit the increase of GTFP.Significant results show that investment in petroleum processing,coking and nuclear fuel processing industries have the greatest inhibitory effect on GTFP.Investment in non-ferrous metal smelting and rolling processing industries,and the inhibitory effect of metal products industry investment weakened;(4)The investment in the production and supply of electricity,heat,gas and water has a negative impact on GTFP;(5)Service industry investment is divided into low-end producer service industry and high-end producer service industry.The investment in the two major industries included in the low-end producer service industry promotes the increase of GTFP.The financial industry investment included in the high-end producer service industry does not have a significant impact on GTFP;Investment in scientific research and technical service industry has a positive effect on GTFP;investment in information transmission,software and information service industry is to restrain the increase of GTFP.Based on the above empirical results,this article proposes corresponding countermeasures and suggestions for resource-based regions from two aspects: from the perspective of investment,it is necessary to adjust the industrial investment structure and focus on low-carbon investment and pollution reduction actions in the process of industrial clusters,while increasing investment in scientific research and human capital;From the perspective of improving green total factor productivity,to improve the ability of low-carbon technology innovation.Promote the transformation of the productive service industry through environmental regulation,the establishment of industrial ecologicalization and diversified development mechanisms,thereby promoting the transformation of resource-based regions to a low-carbon economy.