外商直接投資地區(qū)集聚效應與污染避難所假說【外文翻譯】

1、1本科畢業(yè)論文外文翻譯本科畢業(yè)論文外文翻譯出處：處：EnvironResourceEcon原文：文：AgglomerationEffectsinFeignDirectInvestmentthePollutionHavenHypothesisUlrichJ.WagnerChristopherD.TimminsDoesenvironmentalregulationimpairinternationalcompetitivenessofpol

2、lutionintensiveindustriestotheextentthattheyrelocatetocountrieswithlessstringentregulationturningthosecountriesinto“pollutionhavens”Wetestthishypothesisusingpaneldataonoutwardfeigndirectinvestment(FDI)flowsofvariousindus

3、triesintheGermanmanufacturingsectaccountfseveraleconometricissuesthathavebeenignedinpreviousstudies.MostimptantlywedemonstratethatexternalitiesassociatedwithFDIagglomerationcanbiasestimatesawayfromfindingapollutionhavene

4、ffectifomittedfromtheanalysis.WeincludethestockofinwardFDIasaproxyfagglomerationemployaGMMestimattocontrolfendogenoustimevaryingdeterminantsofFDIflows.Furthermeweproposeadifferenceestimatbasedontheleastpollutingindustryt

5、obreakthepossiblecrelationbetweenenvironmentalregulatystringencyunobservableattributesofFDIrecipientsinthecrosssection.Whenaccountingftheseissueswefindrobustevidenceofapollutionhaveneffectfthechemicalindustry.1Environmen

6、talRegulationPollutionHavensDoesenvironmentalregulationimpairinternationalcompetitivenessofpollutionintensiveindustriestotheextentthattheyrelocatetocountrieswithlessstringentenvironmentalregulationsturningthosecountriesi

7、nto“pollutionhavens”Thisquestionhasbeenthematterofavigouscontroversialpolicydebatefyearsitcontinuestobeofcentralinteresttopolicymakerspublicsecteconomiststhegeneralpublic.Recentlytheissuehasreceivedattentioninthecontexto

8、fassessingtheenvironmentalimpactsofinternationaltradeagreementssuchasNAFTAtheWTOinbroader3summarizesourdataalongwithexplainingwhyGermanyisarelevantcountryfsuchananalysis.InSect.5wereptdiscussourresults.Section6concludes.

9、2RelatedLiteratureEconomistshavetackledtheissueofpollutionhavensindifferentways.Thecommondenominatacrossthevariousstrsofresearchisthatcompliancewithenvironmentalregulationraisesfirms’costs.Fromtheretheliteraturefollowsdi

10、fferentavenues.Sincepollutionhavensaremanifestinthegeographicconcentrationofplantsproducingpollutionintensivegoodstheycaninprinciplebedetectedbylookingateitherpatternsofinternationaltradeindirtygoodsatlocationdecisionsof

11、multinationalfirmsinpollutionintensiveindustries.Ideallyonewouldliketoanalyzechangesinthesepatternsinresponsetotheimplementationofenvironmentalregulation.Manyresearchershaveanalyzedthisproblembylookingdirectlyattradeflow

12、s.Merelevantfourstudyisastroftheliteraturethatfocusesontheroleofcapitalmobility.Thislineofresearchisbasedontheassumptionthatcapitalusedintheproductionofpollutionintensivegoodsyieldsahighermarginalproductincountrieswheref

13、irmsdonotbearthecostofcompliancewithenvironmentalstards.Assomecountriesimposesuchstardsothersdonotcapitalshouldmoveinternationallytoequalizeratesofreturn.Theeconomicvehiclefthisarbitragemechanismisfeigndirectinvestmentby

14、whichfirmsindirtyindustriesrelocateassetstocountrieswithlaxenvironmentalregulations.Thesecountriesbecomepollutionhavens.MostresearchinthisareahasfocusedontherelationshipbetweenenvironmentalregulationinUSjurisdictions(i.e

15、.statescounties)theplantlocationdecisionsofinternationaldomesticfirmsacrossthosejurisdictions.ThisliteratureiscomprehensivelyreviewedbyJeppesenetal.(2002).Thestudiescitedinthatsurveyattempttoexplainthevariationintheproba

16、bilitythePoissonarrivalrateofnewmanufacturingplantlocationdecisionsacrossjurisdictionsbydifferencesinenvironmentalstringencymeasuresotheracteristicsofthechosenlocation.Theresultssupptaweakpollutionhaveneffectatbestinmost

17、regressionstheenvironmentalstringencymeasureisinsignificant.MillimetList(2004)suggestthatthisfindingmaybeduetoheterogenousresponsestoenvironmentalregulationcrobatetheirhypothesiswithevidencefromapropensityscematchingesti