The Influence Mechanism of Bidirectional Foreign Direct Investment on Green Total Factor Productivity in China’s Manufacturing Industry

Sustainability Pub Date : 2024-07-25 DOI:10.3390/su16156386

Zongxian Feng, Huiting Hua, Lingle Wang

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Abstract

Recently, China has actively advocated green transformation in manufacturing. This paper applies the Malmquist–Luenberger (ML) index method to measure the green total factor productivity (GTFP) and its decomposition of 28 segments of China’s manufacturing industry from 2004 to 2020; then, it empirically investigates their causal relationship and impact mechanism on bidirectional foreign direct investment (FDI). The results show that inward foreign direct investment (IFDI) and outward foreign direct investment (OFDI) significantly inhibit GTFP, whereas the interactive development level between the two (DFDI) significantly promotes GTFP during the sample period. After decomposing GTFP, it is found that IFDI or OFDI has a significant promotional effect on green technical change (GTC) but an inhibitory effect on green technical efficiency change (GEC), while DFDI has a promotional effect on GTC or GEC. Further research also finds that OFDI can effectively weaken the inhibitory effects in the long run; IFDI, OFDI, and DFDI have the same direction of impact on GTFP or GEC, only showing heterogeneity at the significant level, while their impact on GTC has uncertainty in different types of manufacturing industries. The more rational the manufacturing industry structure, the more significant the promotional effect of IFDI, OFDI, and DFDI on GTFP.

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双向外商直接投资对中国制造业绿色全要素生产率的影响机制

近来，中国积极倡导制造业绿色转型。本文运用Malmquist-Luenberger（ML）指数法测算了2004-2020年中国制造业28个细分行业的绿色全要素生产率（GTFP）及其分解，并实证研究了它们与双向外商直接投资（FDI）的因果关系和影响机制。结果表明，在样本期内，内向外商直接投资（IFDI）和对外直接投资（OFDI）显著抑制了GTFP，而两者之间的互动发展水平（DFDI）则显著促进了GTFP。分解 GTFP 后发现，IFDI 或 OFDI 对绿色技术变革（GTC）有明显的促进作用，但对绿色技术效率变革（GEC）有抑制作用，而 DFDI 对 GTC 或 GEC 有促进作用。进一步研究还发现，对外直接投资在长期内可以有效削弱抑制效应；IFDI、OFDI、DFDI对GTFP或GEC的影响方向相同，仅在显著水平上表现出异质性，而在不同类型的制造业中，它们对GTC的影响具有不确定性。制造业结构越合理，对外直接投资、对外直接投资和外商直接投资对GTFP的促进作用越显著。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Sustainability

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