Abstract: This paper estimates environmental regulation efficiency of China using the heteroscedastic stochastic frontier model from the institutional perspective, and analyzes the impact of fiscal decentralization, ownership and foreign investment on the efficiency. The results show that: (1) the environmental regulation efficiency of China declines due to the institutional factors and average efficiency is only 57.7%. (2) Improvement of fiscal decentralization, higher level of foreign investment and proportion of state-owned assets help to enhance the regulation efficiency. (3) According to the time chart , The environmental regulation efficiency of the east is the highest, then the middle, and level of west is the lowest. Environmental regulation efficiency of China shows an upward trend especially from the year 2010.

摘要： 本文构建异质性随机边界环境规制模型，基于制度约束视角定量估算了中国省区环境规制效率，分析了财政分权、所有制以及外资水平对环境规制效率的影响。结果表明：（1）在以重经济绩效轻公共服务为特点的目标机制下，地方政府具有降低环境规制的动机，这导致中国省区环境规制效率普遍低下，平均环境规制效率仅为57.7%。（2）完善的财政分权体制、较高的私营经济比例以及外资水平有助于减少这种动机，提高省区环境规制效率。（3）根据绘制的时序图，我们进一步发现，中国东部地区的环境规制效率水平最高，其次为中部地区，西部地区的环境规制效率最低，中国省区环境规制效率在样本期间内呈现稳步提升趋势，尤其从2010年以来，中国环境规制效率有明显提升。