Research On The Impact Of Openness To The Outside World On The Efficiency Of Green Investment In China

As global sustainable development enters a new stage,green investment has gradually become an emerging driving force for the development of major economies in the world.As an important driving force for China’s economic development to transition towards green,green investment plays a crucial role in balancing economic development and environmental protection.The Outline of the 14 th Five Year Plan clearly proposes the construction of a higher level and more open economic system to comprehensively enhance the country’s openness and promote sustainable economic development.This is of great significance for promoting the sustained,healthy and stable development of China’s social and economic development.The improvement of the level of opening up to the outside world has injected a continuous stream of power into economic development,so it is particularly important to balance the protection of the ecological environment during the development process.Based on the relevant theories of Eco-investing,this paper selects 30 provinces in China from 2005 to 2020 as research objects.Firstly,considering the three dimensions of economy,technology,and society,and using the entropy weight method to calculate China’s openness to the outside world;Secondly,the three-stage DEA model is used to measure the efficiency of Eco-investing,and on this basis,the characteristics of Eco-investing efficiency in different provinces are analyzed;Finally,the Tobit model is used to study the impact of the degree of opening up,the upgrading of industrial structure,the level of economic development,environmental regulation,government intervention and population density on the efficiency of Eco-investing in China,with a view to providing more empirical evidence for China’s provinces to improve their openness and increase Eco-investing.The research results indicate that openness to the outside world has a significant positive impact on the efficiency level of green investment,but for regions with lower scale efficiency,an increase in openness to the outside world will actually hinder the improvement of green investment efficiency.Pure technological efficiency contributes significantly to the efficiency of green investment in various provinces and cities,but the scale efficiency is insufficient.The level of economic development,government intervention,and the increase in population density have a positive impact on the efficiency of green investment,while the upgrading of industrial structure and the improvement of environmental regulations will reduce the efficiency of green investment.Finally,based on the research results,this article believes that: firstly,the level of opening up to the outside world should be further expanded to improve the efficiency of green investment.Secondly,implement industrial structure optimization strategies and increase investment in productive service industries.Thirdly,adhere to the sustainable development strategy and prevent pollution at the source.Fourthly,develop regional differentiated green investment policies tailored to local conditions...