The Impact Of OFDI On Industrial Green Total Factor Productivity In The Context Of The Digital Economy

Over the past 40 years of reform and opening up,China’s economy has grown rapidly,but it is also confronted with problems such as high energy consumption and environmental pollution.The 20 st CPC Report calls for accelerating the green transformation of the development model and achieving a shift from quantitative growth to quality improvement in economic development.Green Total factor productivity(GTFP)is the introduction of environmental and energy-related variables into the traditional calculation of total factor productivity,which is an important indicator to measure the high quality of a country’s economic growth.Under the condition of open economy,the main factors that promote the growth of national GTFP include not only the scale effect and the optimization and upgrading of industrial structure,but also the influence of foreign R&D activities on the country through technology spillover.In addition,the digital economy has become a new driving force for the development of the national economy.Not only can the traditional economic driving force be transformed into innovation-driven by the catalytic role of data elements,but also industrial digitalization can accelerate the wide application of digital technology in traditional industries and transform and upgrade the whole chain of traditional industries.Whether OFDI can positively promote GTFP is a question that needs to be discussed at present.Meanwhile,whether digital economy can adapt to the new development pattern of reform and opening up,so as to affect GTFP under the spillover effect of OFDI is also a new perspective for current research.Based on the inter-provincial panel data of China from 2008 to 2019,this paper combines the static fixed-effect model and GMM dynamic panel model,and constructs an empirical study with OFDI capital spillover and technology spillover as explanatory variables,green total factor productivity as explained variables,and digital economy development level as moderating variables.The research results show that,first,OFDI has a significant promoting effect on green total factor productivity and presents a dynamic growth effect.Second,the development of digital economy has a significant positive moderating effect on the improvement of green total factor productivity of the spillover effect of foreign direct investment.Third,China’s OFDI has not significantly promoted the green total factor productivity in eastern China,but can significantly promote the green total factor productivity in central and western China.The sixth chapter puts forward the following feasible suggestions according to the research conclusions: First,digital economy enables manufacturing industry to actively establish the cultivation mode of digital technical talents while the collaborative development of digital technology;Second,through regional differentiation strategy,the government actively guides enterprises to invest in high and new technology,clean energy and green technology abroad,and improves the technology trading market to promote the level of green technology.Third,on the one hand,the government should provide fiscal and tax support and subsidies,on the other hand,it should improve environmental regulation and non-environmental control policies and strengthen the practical application of market mechanism in environmental policies.