Research On The Combination Of Factors Influencing China’s Green Investment In Countries Along The "Belt And Road"

As the largest developing country in the world,in the process of promoting the "Belt and Road" initiative,my country’s promotion of economic and social development,the protection of resources and the environment,and the fulfillment of social responsibilities in countries along the route have attracted international attention.Countries along the“Belt and Road” have weak economic foundations and prominent ecological and environmental problems.While undertaking the transfer of foreign industries to develop their own economies,countries along the routes need to pay more attention to the sustainable development of domestic resources and ecological environment.Therefore,promoting my country’s green investment in countries along the route will not only help promote the coordinated economic and social development of the countries along the route,but also effectively defeat the "China environmental threat theory".However,the progress of global climate governance is arduous,and the economies,institutions and social environments of countries along the route are complex,and my country faces huge challenges and risks in promoting green investment.At this stage,my country’s green investment in countries along the "Belt and Road" has the problems of complex investment environment,small investment scale and uneven spatial distribution.Under this circumstance,it is of great significance to explore the multiple concurrent causality of the factors affecting green investment in countries along the Belt and Road,and to analyze the multiple paths to improve the level of green investment.First,the relevant literature on green investment and its influencing factors in countries along the Belt and Road is sorted out in China,combined with the development status of green investment environment,investment scale and location distribution,and a non-radial and nonangular SBM-undesirable model is constructed to measure the level of green investment.Second,use the fuzzy set qualitative comparative analysis method(fs QCA)to analyze the linkage effect of the influencing factors of green investment,and refine the multiple paths to improve green investment according to different configuration types;The level of investment gives practical policy recommendations.The empirical results show that:(1)Overall,from 2014 to 2020,my country’s green investment in countries along the “Belt and Road” showed a steady and progressive change.However,it has not yet reached the effective status of green investment.In terms of sub-regions,my country’s green investment efficiency in Central and Eastern Europe and West Asia is relatively high,reaching 0.797 and 0.771 respectively,followed by Russia and Mongolia(0.562),Southeast Asia(0.464),Central Asia(0.394)and South Asia(0.280)in order.decreasing,and the regional heterogeneity of green investment levels is prominent.From 2014 to 2020,there are 32 countries whose average comprehensive efficiency of green investment is higher than the overall average,accounting for 53.3% of the statistical area.(2)The influencing factors of my country’s green investment in countries along the“Belt and Road” need to be linked to better explain the occurrence of the outcome variables.The configuration results show that there are multiple(5 configurations)equivalent paths,which can be summarized as "economy+ system + society + resources","economy + system + resources","economy + system + society","system + Resource","Res ource-driven".(3)The resource endowment factor is the key factor affecting my country’s green investment in the countries along the “Belt and Road”,and the institutional factor is a necessary condition for improving my country’s green investment level in the middle-and high-income countries and middle-low-income countries along the route.(4)The types of configurations that achieve high green investment levels and lead to low green investment levels are asymmetric.Different combinations of economic factors,institutional environment,social development,and resource endowment factors will bring about a variety of results,indicating that my country’s green investment in countries along the route Investing has a compound investment motive.Finally,according to the research results,from exploring the advantages of green industries in various countries,expanding the scale of green investment,paying attention to the impact of different combinations of factors on the level of green investment,choosing the path to improve the level of green investment according to local conditions,and selecting differentiated improvement strategies and strategies according to the level of national development.Five suggestions are put forward to improve the level of green investment from two aspects: promoting high efficiency and inhibiting low efficiency.