信贷绿色水平对外商直接投资强度的影响

The Impact of Green Credit Levels on the Intensity of Foreign Direct Investment

摘要: 本文使用2007~2019年全国31个省级行政区(不含港澳台)的面板数据，考察信贷绿色水平对外商直接投资强度的影响。基准回归结果表明，在控制人口密度、人均GDP、人均受教育年限、产业高级化水平、经济稳定度、政策环境指数、对外开放度、法治水平等变量的情况下，信贷绿色水平的提高会显著提高当年的外商直接投资强度。更进一步的稳健性检验表明，信贷绿色水平的提高同样还会显著提高次年以及后年的外商直接投资强度。

Abstract: This article uses panel data from 31 provincial-level administrative regions (excluding Hong Kong, Macao, and Taiwan) in China from 2007 to 2019 to examine the impact of green credit levels on the intensity of foreign direct investment. The benchmark regression results indicate that, under the control of variables such as population density, per capita GDP, per capita education years, industrial upgrading level, economic stability, policy environment index, openness to the outside world, and legal level, an increase in the green level of credit will significantly increase the intensity of foreign direct investment in that year. Further robustness tests indicate that an increase in the green level of credit will also significantly increase the intensity of foreign direct investment in the following year and the following year.