环境规制强度与外商直接投资的互动机制

本文使用1999-2011年中国工业分行业面板数据，运用面板协整和误差修正模型等方法从工业总体和行业分组两个层面分别考察了环境规制强度与外商直接投资之间的长期和短期互动机制。研究表明，外商直接投资会导致环境污染程度的正向变动，引起环境规制强度增大，而环境规制强度的增大却会降低外商直接投资的动机；基于不同要素约束进一步研究发现，环境规制强度与外商直接投资的互动机制存在明显的异质性特征：(1)二者之间存在显著长期互动机制，但短期互动机制并未显现；(2)二者在不同约束条件下分别向长期均衡状态调整的速度存在较大差异；(3)在污染程度较高、R&D强度较低的产业，环境规制强度对外商直接投资的短期影响效应更为明显。而在技术密度较高、规模较小、垄断程度较低的产业，外商直接投资对环境规制强度的短期影响效应更加显著。最后，本文提出了调和这一矛盾的政策建议。

The Interactive Mechanism between Environmental Regulation Intensity and Foreign Direct Investment

By using the 1999-2011 panel data of China's industrial sub-sectors, this paper investigates the long and short term interaction mechanisms between environmental regulation intensity and foreign direct investment at two levels of general and industry groups by using of panel co-integration and error correction models. The results show that foreign direct investment will increase the degree of environmental pollution and environmental regulation intensity, while increasing environmental regulation will reduce the intensity of FDI motives. Based on the constraint of different elements, this paper found that the interaction mechanism between environmental regulation intensity and foreign direct investment exists significant heterogeneity characteristics: (1) The long-term interaction mechanisms is significant, but the short interaction mechanisms is not significant; (2) The adjustment speed of the long-run equilibrium is quite difference in two different constraints; (3) The short term effect of foreign direct investment on environmental regulation intensity is more significant in high degree of pollution, low R&D intensity industries, however, the short term effect of foreign direct investment on environmental regulation intensity is more significant in high technical density, small size, low degree of monopoly industries. Finally, this paper proposes policy suggestions to reconcile this contradiction.