A Study On The Effect Of China’s OFDI On Carbon Emissions In Countries Along The Belt And Road

In recent years,the scale of China’s foreign direct investment has been expanding,and with"The Belt and Road"initiative,China’s direct investment activities in countries along"The Belt and Road"have been increasing,and the scale of investment has also been expanding.In 2015,the United Nations proposed sustainable development goals,covering social,economic and environmental aspects,which put forward higher requirements for the construction of"The Belt and Road",and China is actively committed to promoting green and sustainable development of"The Belt and Road".Therefore,in order to investigate the carbon emission effect of China’s direct investment in countries along"The Belt and Road",this paper firstly compares the relevant literature and analyzes the mechanism of carbon emission effect of China’s foreign direct investment from three aspects:scale effect,structural effect and technology effect;Second,to analyze the current situation of China’s direct investment in countries along"The Belt and Road"and the environmental situation and environmental management policies of some of the countries along"The Belt and Road";Again,this paper uses per capita CO₂ emissions to reflect the environmental pollution level of countries along the route,constructs a geographical distance weight matrix,and examines the impact of China’s foreign direct investment on CO₂emissions based on panel data of 45 countries along"The Belt and Road"from 2005to 2018,combined with a spatial lag model and a spatial difference model;Finally,a sub-sample regression is conducted on China’s carbon emission effects on countries along"The Belt and Road",taking into account regional differences,the countries along the route are divided into three categories,namely,Asia,CIS and Central and Eastern Europe.resource-based and innovative countries.The results show that:（1）The regression coefficient of China’s direct investment in countries along"The Belt and Road"is significantly negative,indicating that China’s foreign direct investment has not caused an increase in carbon emissions in these countries;（2）The inverted U-shaped relationship between GDP per capita and carbon emissions proves the existence of the environmental Kuznets curve;（3）The impact of industrial structure on per capita CO₂ emissions is significantly positive,while the impact of technological progress on per capita CO₂ emissions is significantly negative,and the pressure of energy consumption on the environment remains severe;（4）The regression coefficient of China’s direct investment in Asian and CEE countries is significantly negative,and the relationship between GDP per capita and carbon emissions in Asian and CIS countries is inverted"U",while that in CEE countries is"U".emissions in Asian countries are mainly due to industrial structure and energy consumption;the effect of energy consumption indicators on carbon dioxide emissions in CIS countries is the most significant among the three categories of countries;the effect of technological progress indicators on reducing carbon dioxide emissions in CEE countries is the best among the three categories of countries;（5）The regression coefficients of China’s direct investment in market-oriented,resource-oriented and innovative countries are all significantly negative,and the GDP per capita and carbon emissions of market-oriented and resource-oriented countries show an inverted"U"shape,while the GDP per capita and carbon emissions of innovative countries show a"U"shape.The positive effect of technological progress on innovative countries is more pronounced.Finally,the corresponding policy inspiration is proposed:（1）Optimize the industrial structure of investment and strengthen multilateral cooperation;（2）Strengthen green energy cooperation to promote the development of the renewable energy sector;（3）Formulate corresponding policies to guarantee technological innovation and talent training;（4）Strengthen environmental regulation and increase investment in environmental protection.