environmental legislation governance approach 3 Environmental regulations 2 Investments 2 heterogeneity 2 Agglomeration 1 China 1 Consumer surplus 1 Critical infrastructures 1 Driving factors 1 Economic and social effects 1 Economics 1 Efficiency 1 Environmental quality 1 Foreign direct investment 1 Foreign direct investments 1 Heterogeneous firms 1 Infrastructure 1 Kernel Density Estimation 1 Malaysia 1 Markov chain 1 Markov processes 1 PM 2.5 1 PM2.5 reduction efficiency 1 PM2.5 reduction efficiency (PRE) 1 Penang 1 Pollution damage 1 Public infrastructures 1 Public works 1 Reduction efficiency 1