FDI. Factor Endowment Hypothesis FDI. Pollution Haven Hypothesis PHH PHH FDI FDI FDI. Race to FDI FDI. the Bottom PHH FDI PHH

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1 CHINA POPULATION RESOURCES AND ENVIRONMENT Vol. 23 No ,2 林季红 刘 莹 F832 F062 A doi /j. issn FDI Factor Endowment Hypothesis FDI 1 Pollution Haven Hypothesis PHH PHH 3 PHH 1993 FDI FDI FDI Race to FDI the Bottom FDI PHH FDI FDI PHH PHH BJY B R

2 Roy 16 PHH 4 - Walter Ugelow 5 FDI Dean 6 Copeland Taylor 7 PHH Esty 8 Fredriksson FDI FDI Levinson PHH FDI Taylor PHH Cole Elliott PHH FDI PHH Eskeland Harrison 9 FDI FDI Sonia Natalia 3 13 PHH Smarzynska FDI FDI Millimet FDI PHH Wei FDI PHH PHH PHH PHH Dean Lucas 11 OECD 18 FDI Mani PHH Wheeler 12 FDI PHH 19 Xing Kolstad 13 FDI PHH FDI 20 FDI FDI Keller Levinson FDI 21 FDI PHH FDI 22 PHH 23 FDI Cole 15 PHH 14

3 FDI 12 SPSS FDI it = α i + β 1 ER it + β 2 KL it + β 3 TFP it + β 4 RD it + β 5 MP it + β 6 SOE it + β 7 HC it + β 8 EP it + β 9 WAGE it + β 10 PD it + ε it 1 i t TFP FDI FDI t Sonia Natalia 3 10 TFP i ER KL Fare DEA Malmquist TFP FDI ER KL TFP RD Sonia Natalia Total Factor Productivity TFP RD MP TFP R&D TFP SOE HC TFP EP WAGE R&D PD α i 25 ε it E ε it = FDI MP Cole Elliott FDI ER SOE HC COD SO 2 EP Cole Elliott FDI Cole 7 Elliott Y ij = 2 - X ij /X j Y ij i j WAGE X ij i j X j j PD SO 2 2 Y ij = X ij /X j n n = 2 KL GDP R&D 15

4 Fixed Effect FE Random Effect RE 1 Hausman α i ER i t - 1 ER it 1 FDI Instrumental Variables IV Tab. 1 Panel Data Model Regression Result of Lagrange Multiplier LM Determinants of FDI Inflow in China 1 LM Explanatory Fixed variables Effects Model ER KL TFP RD MP SOE HC EP WAGE PD Random Effects Model * *** *** ** *** *** *** *** *** *** ** *** ** *** *** *** *** *** *** Adjusted R Hausman FE vs RE LM test Fixed Effects Model-Instrument Variables FDI FDI FDI FDI TFP RD FDI MP FDI SOE FDI HC FDI N EP t *** ** * 1% 5% 10% Hausman LM p FDI 16

5 WAGE PD 6 Dean J M. Trade and the Environment A Survey of the Literature FDI FDI 8 Esty D C. Greening the GATT Trade Environment and the Future C. Washington DC Institute for International Economics Eskeland G S Harrison A E. Moving to Greener Pastures Multinationals and the Pollution Haven Hypothesis J. Journal of Development Economics Smarzynska Javorcik B Wei S - J. Pollution Havens and Foreign Direct Investment Dirty Secret or Popular Myth C. NBER Working Paper Lucas R E B Wheeler D Hettige H. Economic Development FDI Environmental Regulation and the International Migration of Toxic Industrial Pollution C. World Bank Discussion FDI Paper Mani M Wheeler D. In Search of Pollution Havens Dirty Industry FDI in the World Economy 1960 to 1995 J. Journal of Environment and Development Xing Y Kolstad C D. Do Lax Environmental Regulations Attract FDI Foreign Investment J. Environmental and Resource Economics Keller W Levinson A. Pollution Abatement Costs and FDI Inflows to U. S. States J. Review of Economics and Statistics Cole M A Elliott R J R Fredriksson P. G. Endogenous Pollution Havens Does FDI Influence Environmental Regulations J. Scandinavian Journal of Economics FDI 16 Millimet D L Roy J. Three New Empirical Tests of the Pollution Haven Hypothesis When Environmental Regulation is Endogenous C. IZA Discussion Paper Fredriksson P G List J A Millimet D L. Bureaucratic Corruption Environmental Policy and Inbound US FDI Theory and Evidence J. Journal of Public Economics References Cole M A Elliott R J R. FDI and the Capital Intensity of Dirty Sectors A Missing Piece of the Pollution Haven Puzzle J. Review of Development Economics Levinson A Taylor M S. Unmasking the Pollution Haven Effect J. International Economic Review Ben Kheder S Zugravu N. The Pollution Haven Hypothesis A Geographic Economy Model in a Comparative Study C. CES Working Paper Walter I Ugelow J L. Environmental Policies in Developing Countries J. Technology Development and Environmental Impact Walter I. Environmentally Induced Relocation to Developing Countries M. U. K Allanheld Osmun C. World Bank Discussion Papers Copeland B R Taylor M S. Trade and Environment A Partial Synthesis J. American Journal of Agricultural Economics Dean J M Lovely M E Wang H. Are Foreign Investors Attracted to Weak Enviromental Regulations Evaluating the Evidence from China J. Journal of Development Economics J Ying Ruiyao Zhou Li. Foreign Direct Investment Industrial Pollution and Environmental Regulations J. Finance & Trade Economics J Liu Zhizhong Chen Guo. Environmental Regulations and Location Distribution of Foreign Direct Investment Empirical Study Based on 17

6 Urban Panel Data J. Journal of International Trade Environmental Regulation Foreign Direct Investment and Pollution 21. J. Haven Hypothesis J. Economic Theory and Business Management Chen Honglei Chen Qiufeng The Pollution Haven Hypothesis & Its Empirical Test in China 24. M. J. Journal of Jinan University Philosophy and Social Sciences Environment Protection and Industrial International Competiveness 22. Theoretical and Empirical Analysis M. Beijing China Social J. Sciences Press Qi Jianhong Ju Lei. An Empirical Analysis on Environmental Regulation and FDI Location Lointegration and Granger Fest Based on China s Data of J. Finance and Trade Research J Zeng Xiangang Zhao Xikang. 25. J Li Yongjun. The Determinants of Industrial Location of Foreign Direct Investment in China J. The Journal of World Economy Endogenous Environmental Regulations Retesting of Pollution Haven Hypothesis in China LIN Ji-hong 1 2 LIU Ying 1 1. Department of International Economics and Business Xiamen University Xiamen Fujian China 2. World Economy Research Center Xiamen University Xiamen Fujian China Abstract Pollution haven hypothesis PHH holds the viewpoint that changes in environmental regulation ER result in a relocation of pollution - intensive industries from countries with stringent environmental regulations to those with relax environmental regulations. Although PHH is rational in theory empirical analysis can not provide abundant proof to support it. There are two important reasons One is the endogeneity of environmental regulations and the other is that the effect of factor endowment on FDI inflow is always neglected in empirical analysis. By treating factor endowment as explanatory variable considering the endogeneity of environmental regulations and from the view of the industry this paper attempts to retest whether PHH exists in China. We choose 36 industries panel data of China during using panel data fixed effect model and random effect model as estimation methods and instrumental variables to eliminate the endogeneity of environmental regulations. The result shows that when we treat ER as an strictly exogenous variable PHH does not exist in China the main decisive factor of China s FDI inflow is the capital-labor ratio. However when we treat ER as an endogenous variable ER is also the main decisive factor of China s FDI inflow and PHH exists in China. Key words pollution haven hypothesis foreign direct investment FDI environmental regulations endogeneity factor endowment 18