1、 外文翻译 原文 The impact of foreign direct investment on developing economies and the environment Material Source: http:/search.scielo.org/?q=%20investment%20%20environment its effects are conditioned by the overall Empirical studies driven primarily by cross-sectional variation have found an inverted U
2、shaped relation between income and environmental quality, especially for local pollutants which is called the Environmental Kuznets curve (henceforth EKC) This has raised questions whether growth in income has a negative or positive impact in environmental quality. These empirical studies have not i
3、ncorporated the effect of international trade and growth in any given economy. This model fills this void by allowing these effects to interact in determining the final outcome. Additionally having environmental policy as an endogenous variable in the model, it provides an instrument that may be use
4、d to influence these forces; the endogenously determined pollution tax in each country influences the overall shape of the relation as well as determines the exact levels of results. This happens because the environmental policy affects the payment to capital. This influences the desire to invest ev
5、ery period, and for any given period also determines the allocation of world capital stock between the two economies. So the environmental policy has both a dynamic and static role in determining the amount of capital that is accumulated and the location where it is employed, leading to the emission
6、 results. While using the inter temporal income-environment relation of one economy to make predictions for another economy, the model considers that one needs to account for the differences in structure of production, techniques of production, stage of development, nature of environmental policy an
7、d pattern of trade simultaneously, which is done in a tractable manner in this model. The model is a dynamic general equilibrium model of a developing country trading with the rest of the world. The dynamic aspect of the model allows analyzing the growth of the economies and the scale effects on env
8、ironment. Traded commodities are classified into clean and dirty sectors. This allows analyzing the change in the mix in production composition as the system moves towards the steady state. In this model environmental policy is modeled as a per-unit pollution tax. Change in the pollution tax affects
9、 the per unit emission of each good. The spirit of the model is similar to the Ramsey-Cass- Koop mans Neoclassical Growth Model with an endogenous savings rate. This model uses a system of difference equations that arise from the first order conditions of inter temporal welfare maximization, and als
10、o uses analytical results and numerical simulation to track the complete time path of income and environmental conditions of the two economies. Evolution of the variables is defined as the movement from the initial conditions to the steady state along the saddle path. Change in the initial condition
11、s, parameters of the model and the environmental tax rule translate into changes in the paths and the relations between variables. These dimensions of the exercise provide a more comprehensive understanding of the economic reasons underlying the Environmental Kuznets Curve. It examines whether and w
12、hen it is realistic for polluted economies to pin their hope on higher incomes as a solution to improve environmental quality. We can conclude that during growth of an economy, whether developed or developing, a stricter environmental standard with growth of the economy is a necessary condition for
13、the inverted-U shaped relation between increasing capital inflows, income and emissions to emerge. This is because at higher taxes in greater economic prosperity encourages profit maximizing producers to adopt cleaner technologies and at the same time provides reasons to move to cleaner sectors. Dif
14、ference in trade patterns cause shifts in the inverted-U shape, but does not change the overall shape of the relation. Efficient emission taxation laws correctly reflecting the increasing disutility of emissions is a special case of the necessary condition of pollution taxes rising with capital infl
15、ows and economic growth. This efficient taxation leads to an inverted U relation between capital mobility, income improvement and pollution that is welfare maximizing for the economy. Anyhow, observing an inverted U-shape is not enough to infer efficiency of the environmental policy or the effect of
16、 capital inflows or the income environment outcomes for that economy. We cannot rely solely on higher incomes as a remedy for environmental degradation issues, whereas environmental concerns are already an important fact in developing countries agendas. When emission tax policies do not respond to c
17、onsumer disutility, pollution shows no sign of decreasing at higher income levels. Which is the case in some Asian countries, sufficiently high fixed taxes may make the fixed-tax steady state outcomes consistent with the steady-state under optimal tax but this would impose an unnecessary burden at e
18、arlier stages of development when the shadow cost of pollution to those affected is relatively smaller. However, without accounting for the difference in environmental policy between developed and developing economies, it would be misguided for all to expect that environmental degradation will decli
19、ne at higher income levels. Governments need to respond to consumer preference to attain the optimal outcome. In a free trade, open economy framework, and identical efficient policy regimes will not deliver identical environmental outcomes to economies that have different trade patterns like it is t
20、he case of Mexico and the USA. For two economies that begin international trade starting at different points in their growth path, the implications are very different. In absence of other sources of comparative advantage caused by difference in factor endowments, the developing economy will accept f
21、oreign capital inflows and will experience a worse environmental outcome than its developed partner. The developed economy will be able to invest its capital abroad, wherever the highest returns are available, and use them to buy dirty commodities. This result highlights the fact that predictions fo
22、r individual economies using analyses based on two economies might be misleading. When Cropper and Griffiths predict that “A country with population density of 0.7 persons per hectare requires an income of $11,650 per year to achieve the same rate of deforestation” they do not consider that the timi
23、ng of growth itself will have an inter temporal influence on the income environment relation which cannot be taken care by country specific fixed effects or by other explanatory variables. If the developed economy adopts a suboptimal environmental policy, then the share of capital that is invested w
24、ithin the developed economy is large. If the developing partner implements a more efficient environmental regime, then the developed partner may end up accepting the bigger share of world capital at a bigger environmental cost to itself. Hence the inverted-U curve of the poor foreign economy is init
25、ially above that of the rich home economy. At a later stage of growth of the world economy, the inverted-U of rich home might intersect and rise above that of the poorer foreign economy. Additional factors that affect the relationship of environmental outcomes and income are pollution disutility awa
26、reness, price changes in the sectors that the country has comparative advantage in, and the technology of production and abatement. But environmental policies may or may not be implemented when economy is developing. There are several points that impede a clear policy conclusion derived from the EKC
27、s but the path for further investigation is being built. 译文 外商直接投资在发展经济环境中的影响 资料来源 : http:/search.scielo.org/?q=%20investment%20%20environment每个国家的内生决定的污染税影响了整体造型的关系以及决定结果的准确程度。这是因为环境政策 影响资本支付。这会影响投资的每一个时期，对于任何给定时间也决定了两者之间的世界经济资本存量的分配。因此，环境政策，拥有决定资本积累的数量是动态和静态，和其所在就业位置的作用，从而影响排放结果。当使用暂时收入经济环境的关系，去预言
28、另一经济体系，这个模型认为，需要考虑生产结构的差异，生产技术，发展阶段，环境政策和同时贸易模式，这是在简单模型方式下进行。该模型是一个动态的，与世界其他发展中国家贸易的一般均衡模型。该模型允许动态方面分析对环境的经济和规模效应的增长。交易的商品分为清洁和肮脏的行业。这允许分析生产在作 为实现该系统稳定运动组成结构的变化。在这种环境政策的模式是建模在每个单位为污染税。污染税的变化影响到每一个单位良好的排放。该模型的精神，类似与储蓄率的内源性拉姆齐 -卡斯 -库普曼的新古典增长模型。该模型采用了差分方程，产生于第一次暂时最大福利，并利用系统分析结果和数值模拟，跟踪正确时间收入和两个经济体的环境条件
29、。该变量的演化是指从初始条件的运动路径沿稳定状态变化。初始条件的变化，模型和环境税规则转化为跨期路径的变化和变数关系。这些方面的工作提供了广泛的环境库兹涅茨曲线的经济原因以便更全面的了解。它证明了是否要 及何时污染的经济来压住他们渴望的高收入作为一个解决方案，作为改善环境质量的希望是可行的。我们得出结论，在一个增长的经济体系中，无论是发达国家还是发展中国家，更严格的经济增长的环境标准是一个倒 U 形关系资本流入增加，收入和排放出现的必要条件。这是因为在经济繁荣中，高税收利润鼓励生产者采用清洁技术，并在同一时间提供了转向清洁行业的理由。贸易格局的差异造成的倒 U 形变化，但不改变这种关系的整体形
30、状。高效的税收法律正确反映增加废气排放负效用是必要的污染税，以及资本流入增加和经济增长状况的特殊情况。这种高效的税收导致了资 本流动，以及收入水平的提高和最大经济福利的污染的 倒 U 型关系。总之，观察一个倒U 形来推断环境政策或资金流入或该经济收入环境成 果的影响效率是不够的。我们不能仅仅依靠高收入作为环境退化问题的补救措施，而环境问题已经成为发展中国家议程的重要事实。当排放税政策不反应无效的消费者，污染不显示出较高的收入水平下降的迹象。这是对在一些亚洲国家来说，足够高的固定税可能使固定税稳态结果与稳定的最佳状态保持一致，但根据这将对在发展早期阶段的国家造成不必要的负担以及受相对较小的污染阴
31、影影响。然而，没有说明差异的原因在与发展和发展中 经济体中的环境政策，它将误导所有的期望，环境恶化将使更高的收入水平下降。政府需要对消费者偏好作出反应以达到最佳结果。在一个自由贸易，开放经济框架，相同高效的政策不会产生对于经济的相同环境的结果，有不同的贸易模式比如墨西哥和美国的情况正是如此。在缺乏其他比较优势来源造成差异因子天赋，经济开发将接受外国资本流入，我们将会体验到一个比它的开发同伴更坏的环境结果。发展经济表示将来投资资本到国外，去最高返回可用的地方，驱使他们去购买不公平的商品。这个结果突出表明，对于个别经济预测上使用两个经济为基础的分析可能会产生误 导。当涉及农作物，格里菲思预测那样“
32、一个国家 0.7 的 人口密度每公顷人要求收入为 $11， 650， 相当于每年实现同一森林的砍伐率”他们不认为，发展的时间本身将对收入环境有影响联系 不能被国家照顾的具体固定效应或由其他说明的变量。 如果发展经济体采用一个次优环境政策，那么资本的股份被开发经济体投资就会变大。如果发展中的合作伙伴实现了一个更有效的环境制度，那么发达国家的合作伙伴，最终可能接受在更大的自我环境消耗去实现更大的世界资本份额。因此 投资 U 曲线的 贫穷外国经济最初超越那些有钱人的家庭经济。后来的世界经济，富裕 家庭的投资可能增加对相对贫穷的外国经济的投资。额外的因素影响环境的结果和收入是污染的负效用意识，领域内的价格调整比较有优势，生产技术相对下降。然而当经济在开发中环境政策可能或不可能被执行。有一些要素阻碍来自环境库兹涅茨的明确政策结论然而为更远的调查道路正在建立。
