【摘要】 本文使用多个中国微观企业数据,通过双重差分法和多种异质性稳健估计方法,识别了中国企业对外直接投资影响污染排放的因果效应和作用机制。研究发现,企业对外直接投资会显著降低其化学需氧量(COD)的排放;并且,在降低COD排放强度的同时提高了总产出。进一步机制分析表明,企业主要通过到环境规制更严格国家对外直接投资产生的逆向技术溢出,以及促进出口的集约边际和拓展边际来实现减排。更多还原

【Abstract】 We empirically examine the causal effects and mechanisms of China’s outward foreign direct investment on pollution emissions. Using a difference-in-differences framework and various heterogeneity robust estimation methods based on a series of firm-level data, we find that outward foreign direct investment significantly reduces firms’ COD emissions. Moreover, it increases total output while reducing COD emission intensity. The mechanism analysis shows that firms achieve emission reductions mainly through reverse technology spillovers from outward foreign direct investment in host countries with stricter environmental regulations and by promoting the intensive margin and extensive margin of exports.更多还原