关键词: 绿色经济效率, 资源环境约束, 环境管制, 非参数条件效率模型, 国际资本流动冲击, 经济增长, 国际合作, 动态结构面板向量自回归

Abstract: Taking BRICS as an example, This paper builds a dynamic structural panel VAR model from the perspective of international cooperation by estimating the potential output as an indicator of economic growth to identify and decompose the structural composite shocks of autonomous international capital flowing into the common shocks shared by all members and the member-specific idiosyncratic shocks, and develops econometric ideas to analyze the economic effects of international capital flow shocks. Evidences show that the international capital flow shocks have divergent effects on individual countries varying with capital liberalization progress, but have persistent positive effects on the integrated BRICS, which cannot be disturbed by specific shocks. The results imply that the model we builds is feasible and meaningful. China should promote South-South cooperation to diversify capital flow shocks and realize common development.

Key words: Green Economic Efficiency, Resource and Environmental Constraint, Environmental Regulation, Nonparametric Conditional Efficiency Model., International Capital Flow Shocks, Economic Growth, International Cooperation, Dynamic Structural Panel VAR