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Article

Economic Policy Uncertainty, Outward Foreign Direct Investments, and Green Total Factor Productivity: Evidence from Firm-Level Data in China

1
School of Business, Henan Normal University, Xinxiang 453007, China
2
School of Economics, Tianjin University of Commerce, Tianjin 300134, China
3
Faculty of Political Sciences, Istanbul Medeniyet University, Kadıköy/İstanbul 34720, Turkey
*
Author to whom correspondence should be addressed.
Academic Editor: Juan Ignacio Pulido-Fernández
Sustainability 2021, 13(4), 2339; https://doi.org/10.3390/su13042339
Received: 5 January 2021 / Revised: 24 January 2021 / Accepted: 27 January 2021 / Published: 22 February 2021
(This article belongs to the Special Issue Economic Policy Uncertainty and Sustainability of the Green Economy)
This paper uses Chinese firm-level data to investigate the effect of China’s outward foreign direct investment (OFDI) on green total factor productivity (GTFP) under economic policy uncertainties (EPU). We found a significant positive impact of OFDI on GTFP. Moreover, an increase in EPU was shown to decrease GTFP. We also found that OFDI positively contributes to GTFP for private firms and foreign-invested firms in China. Technology-seeking OFDI contributes greater to GTFP than resource-seeking OFDI and market-seeking OFDI. These results remain robust when considering OFDI from firms in Central and East China as well as Western China. The findings are also robust with green labor productivity (GLP) substituting for GTFP using different econometric techniques. We also discuss potential implications in enhancing green innovation performance and sustainable industrial development in China. View Full-Text
Keywords: sustainable industrial development; green total factor productivity; outward foreign direct investments; economic policy uncertainty; Chinese economy sustainable industrial development; green total factor productivity; outward foreign direct investments; economic policy uncertainty; Chinese economy
MDPI and ACS Style

Song, Y.; Hao, F.; Hao, X.; Gozgor, G. Economic Policy Uncertainty, Outward Foreign Direct Investments, and Green Total Factor Productivity: Evidence from Firm-Level Data in China. Sustainability 2021, 13, 2339. https://doi.org/10.3390/su13042339

AMA Style

Song Y, Hao F, Hao X, Gozgor G. Economic Policy Uncertainty, Outward Foreign Direct Investments, and Green Total Factor Productivity: Evidence from Firm-Level Data in China. Sustainability. 2021; 13(4):2339. https://doi.org/10.3390/su13042339

Chicago/Turabian Style

Song, Yuegang, Feng Hao, Xiazhen Hao, and Giray Gozgor. 2021. "Economic Policy Uncertainty, Outward Foreign Direct Investments, and Green Total Factor Productivity: Evidence from Firm-Level Data in China" Sustainability 13, no. 4: 2339. https://doi.org/10.3390/su13042339

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