| Up to 2022,China’s manufacturing industry has ranked first in the world for 12 consecutive years,and the added value accounts for 27.4% of China’s GDP.However,the manufacturing industry has the characteristics of high energy consumption and high pollution emission,which is obviously contrary to the low-carbon,Green and sustainable development economic model.With the economic globalization,China’s opening-up level has been deepened and the scale of inward and outward foreign direct investment has been continuously expanded,inward and outward foreign direct investment plays an important role in economy,society and culture of our country.It is worth noting that the manufacturing industry occupies a large share in both types of investment capital,and the inward and outward foreign direct investment is closely related to the development of the manufacturing industry.Therefore,it is of great theoretical and practical significance to study the influence of IFDI,OFDI and two-way FDI synergetic development on the total factor energy efficiency of China’s manufacturing industry.This paper uses the method of theoretical analysis and empirical research,combing the relevant literature of inward and outward foreign direct investment and total factor energy efficiency,and establishing the theoretical basis of two-way FDI affecting total factor energy efficiency,based on panel data of 30 provinces and cities in China from 2004 to 2019,capacity coupling system model was used to measure IFDI and OFDI synergetic development index,with the DEA-Malmquist index method,the manufacturing total factor energy efficiency index is calculated,and the static and dynamic panel data models are constructed.Random effects model and system GMM method are used for regression estimation,this paper examines the impact of IFDI,OFDI and two-way FDI synergetic development on total factor energy efficiency(TFEE)in Chinese manufacturing industry,and decomposes TFEE based on DEA-Malmquist index method,the effects of IFDI,OFDI and two-way FDI synergetic development on technical efficiency(EC)and technological progress(TC)are discussed.In this paper,the heterogeneity of IFDI,OFDI and two-way FDI synergetic development on manufacturing total factor energy efficiency(TFEE)in eastern,central and western China is studied based on the National Bureau of Statistics of the People’s Republic of China.The results show that IFDI has a negative effect on the improvement of total factor energy efficiency(TFEE)in China’s manufacturing industry,and OFDI and two-way FDI synergetic development has a significant positive effect on the improvement of TFEE in manufacturing industry.IFDI has a negative effect on EC and TC of manufacturing industry,OFDI and two-way FDI synergetic development have a positive effect on EC and TC of manufacturing industry,and the influence of the former is greater than that of the latter,the results show that EC plays a dominant role in the OFDI and two-way FDI synergetic development on total factor energy efficiency(TFEE)in manufacturing.The effect of two-way FDI on TFEE in manufacturing is regional heterogeneity,the IFDI,OFDI and twoway FDI synergetic development has positive effect on total factor energy efficiency of manufacturing industry in the eastern and central regions,but the impact on the western region is not significant. |
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