OFDI Reverse Technology Spillover Of China,Environmental Regulation And Green Total Factor Productivity

Since China has implemented its reform and opening-up policy,the economic development speed has been significantly improved,and its industrialization and urbanization construction have made brilliant achievements,and the social production efficiency and residents’ material wealth have been growing continuously.However,the rapid economic growth has consumed a lot of local natural energy and seriously damaged the local ecological environment,which makes the sustainable economic development into a difficult dilemma.For the purpose of green and sustainable development,China’s traditional extensive economic development mode urgently needs to be upgraded and optimized.The science and technology,as the basic driving factor of promoting green efficiency reform and improving economic efficiency,are of great significance to realize the low-carbon and intensive transformation of economic growth in the new era.However,a country’s level of technology development level is not only derived from its own long-term innovation research and development and technological accumulation,but also affected by the OFDI reverse technology overflow.As Chinese enterprises continue to "go global" and devote themselves to the advanced production and operation links and innovation value chain of developed countries,the international technology spillover obtained is of great significance to the development of the green economy of the parent country.However,the effect of OFDI reverse technology overflow on green total factor productivity will partly be partly affected by the environmental system of the parent country,as an important means of regulatory enterprise environmental external behavior,the environmental regulation can drive local enterprises to improve industrial manufacturing technology and clean production process,while promoting the expected output to reduce the environmental negative effect,to achieve high quality economic development.In this context,does reverse technology spillover through OFDI have a role in promoting the growth of green total factor productivity? Does this impact effect show nonlinear characteristics due to the different intensity of environmental management policy in the parent country? This is exactly the point to focus on in this paper.This paper through the research results of relevant scholars at home and abroad,to clarify the OFDI reverse technology spillover affect green total factor productivity of direct mechanism,environmental regulation affect green total factor productivity of direct mechanism,and OFDI reverse technology spillover affect green total factor productivity in the process of environmental regulation of the nonlinear threshold mechanism.Secondly,by using Lichtenberg and Pottelsberghe and non-radial and non-angular SBM models combined with ML index,we systematically calculate the technology spillover obtained by China through OFDI channels and the green total factor productivity index.Subsequently,through the construction of benchmark regression model and threshold regression model,the effect of Chinese OFDI reverse technology spillover on green total factor productivity in the parent country and the non-linear threshold threshold effect of environmental regulation were empirically tested.The research conclusion is as follows:(1)The reverse technology spillover effect obtained by Chinese provinces through OFDI channels shows an increasing trend over time,among them,the reverse technology spillover obtained through OFDI channel is relatively large;while China’s green total factor productivity generally shows expansion and polarization.(2)The regression coefficient of Chinese OFDI reverse technology spillover on the green total factor productivity is significantly positive.Regional sample test results show that the OFDI reverse technology spillover in eastern and western China has a direct driving effect on the local green total factor productivity,and the green total factor productivity effect of OFDI reverse technology spillover in eastern region is greater than that in western region,while the positive influence coefficient in the central region is not significant.(3)With the intensity of formal environmental management has increased,the influence of Chinese OFDI reverse technology spillover on green total factor productivity has changed from weak to strong;under the regulation of informal environmental regulation,the impact effect is also gradually increasing.(4)The results of regional heterogeneity test of nonlinear threshold regression show that with the improvement of formal environmental regulation intensity,the green total factor productivity effect of OFDI reverse technology spillover in the eastern region presents the characteristics of "V" type change of first falling and then rising,while the effect effect gradually increases under the regulation of informal environmental regulation.With the gradual improvement of the informal environmental regulation intensity in the western region,the impact of OFDI reverse technology spillover on the green total factor productivity has experienced the change trend of inverted "V" type of the first rising and then decreasing.According on the above index calculation and empirical research results,this paper puts forward the following policy suggestions:(1)The local governments should pay attention to the driving effect of OFDI reverse technology spillover on the level of scientific and technological innovation and the environmental effect of economic growth.And continue to promote Chinese enterprises to "go global",increase the scale and efficiency of OFDI,encourage enterprises to carry out "technology-seeking" foreign investment activities through Greenland investment or mergers and acquisitions,and improve the scientific and technological transformation capacity of the region by cultivating high-quality talent capital and building a technology absorption system with deep integration of industry,university and research.(2)Give full play to the role of formal environmental regulation in forcing enterprise innovation behavior and the development of regional green economy,and drive enterprises to embed in advanced production and manufacturing links in developed countries to learn to imitate green and clean technology.(3)By improving the public awareness of environmental protection to implement informal environmental regulation,appropriately guide environmental protection organizations to use media or lobbying consultation to strengthen the pollution supervision over small and medium-sized enterprises,establish a smooth and effective pollution event information feedback mechanism,make full use of informal environmental regulation drive enterprises through OFDI channels to realize their own green efficiency change.(4)Taking environmental management policies tailored to local conditions,the eastern region should guide local enterprises to achieve high-level technology integration with international advanced technology entities;the central region should strengthen investment activities in resource-based industries or heavy manufacturing industries,enhance green technology spillover;the western region should increase the scale and efficiency of OFDI and improve the green production technology of local enterprises through OFDI channels.