| 摘要: |
| 环境污染已成为制约经济发展的重要瓶颈，推动生态文明建设，实现绿色发展是 构建高质量发展的必然要求。文章基于2003-2016年长江经济带数据，采用固定效应和门槛模 型对“污染光环”假说进行检验。研究结果表明：外商直接投资能有效抑制废水排放量，有利 于改善环境质量，从而验证了“污染光环”假说；同时，FDI对废水排放的减排效果存在显著 差异性，一方面废水减排效果会受到FDI规模影响，FDI规模过大或过小对抑制废水排放都存 在帕累托改进，另一方面FDI对废水排放的抑制作用依赖于城市化进程、产业结构、技术进步 和环境规制的水平，存在显著的门槛特征。此外，当前经济发展水平与废水排放量呈现显著的 倒“U”型关系，验证了EKC曲线假说。因此，在扩大开放的基础上，要重视FDI质量、优化产 业结构、加快科技成果转化等措施，实现经济与环境的可持续发展。 |
| 关键词: 长江经济带；外商直接投资；“污染光环”假说；门槛回归 |
| DOI： |
| 分类号:F830.59 |
| 基金项目:中国人民银行武汉分行2018年青年研究课题。 |
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| Will Foreign Direct Investment Lead to Environmental Pollution in Host Countries?—Evidence from the yangtze River Economic Belt |
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HUANG Ruoyun ZHOU Qiangjing
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People's Bank of China，Jingmen City Central Branch
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| Abstract: |
| Environmental pollution has become an important bottleneck restricting economic development. Promoting the construction of ecological civilization and achieving green development are the inevitable requirement of building high-quality development. This paper is based on the data of the Yangtze River Economic Zone from 2013 to 2016 to test the hypothesis of "polluting halo" by using fixed-effect model and threshold regression. The results show that foreign direct investment can inhibit waste water discharge and improve environmental quality, thus verifying the "pollution halo" hypothesis, however, it should also be noted that there is a significant difference in the suppression effect of FDI on waste water discharge. On the one hand, the emission reduction effect of waste water will be affected by the scale of FDI, and existing Pareto improvement in curbing wastewater discharge when FDI scale is too large or too small. On the other hand, the restraining effect of FDI on wastewater discharge is affected by the urbanization process, industrial structure, technological progress and environmental regulation, with significant threshold characteristics. In addition, the current economic level and waste water discharge showed an inverse significant "U" relationship, validating the EKC curve hypothesis. Therefore, on the basis of expanding openness, we must attach importance to the quality of FDI, optimize the industrial structure, and accelerate the transformation of scientific and technological achievements to achieve sustainable economic and environmental development. |
| Key words: Yangtze River Economic Belt；Foreign Direct Investment；"Polluting Halo" Hypothesis； Threshold Regression |
