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Do environmental regulations affect FDI decisions? The pollution haven hypothesis revisited
Science and Public Policy ( IF 2.087 ) Pub Date : 2020-10-14 , DOI: 10.1093/scipol/scaa060
Haeyeon Yoon 1 , Almas Heshmati 2
Affiliation  

In an attempt to verify the pollution haven hypothesis, this study investigates the impact of environmental regulations on foreign direct investment (FDI). We use Korean outward FDI data covering the manufacturing sector for 2009-15. The study not only considers the stringency but also the enforcement of environmental regulations when measuring the degree of the host country’s environmental regulations. Since the pollution haven’s effects indicate moving the polluting production stages from the home country to other (host) countries, we distinguish between investments in the ‘production’ part from that in the non-production part using location information about the host country. The main results of the estimation of a FDI model show that the stricter the regulations in host countries in Asia the lower the FDI both intensively and extensively to those countries. This supports the prevalence of the effects of pollution havens. However, before we separate the FDI into the production part, the effect of environmental regulations on FDI is hindered by the FDI in the non-production part. The results indicate that environmental regulations are determinants of FDI in the production part, while environmental regulations do not have a significant effect on FDI decisions when the entire FDI is considered.

中文翻译:

环境法规会影响 FDI 决策吗?重新审视污染天堂假说

为了验证污染天堂假说,本研究调查了环境法规对外国直接投资 (FDI) 的影响。我们使用涵盖 2009-15 年制造业部门的韩国对外直接投资数据。该研究在衡量东道国环境法规的程度时,不仅考虑了环境法规的严格性,还考虑了环境法规的执行情况。由于污染港的影响表明污染生产阶段从母国转移到其他(东道国),我们使用东道国的位置信息区分“生产”部分和非生产部分的投资。FDI模型估计的主要结果表明,亚洲东道国的监管越严格,对这些国家的集中和广泛的FDI越低。这支持了污染避难所影响的普遍性。但是,在我们将FDI划分到生产部分之前,环境法规对FDI的作用受到了非生产部分的FDI的阻碍。结果表明,环境规制是生产环节 FDI 的决定因素,而当考虑整个 FDI 时,环境规制对 FDI 决策没有显着影响。非生产部分的 FDI 阻碍了环境法规对 FDI 的影响。结果表明,环境规制是生产环节 FDI 的决定因素,而当考虑整个 FDI 时,环境规制对 FDI 决策没有显着影响。非生产部分的 FDI 阻碍了环境法规对 FDI 的影响。结果表明,环境规制是生产环节 FDI 的决定因素,而当考虑整个 FDI 时,环境规制对 FDI 决策没有显着影响。
更新日期:2020-10-14
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