外商直接投资最佳行业渗透水平
阅读全文
下载全文 |
| Title | The Optimal Sectoral Level of Foreign Direct Investment
|
| 作者 | 钟昌标 |
| Author | Zhong Changbiao |
| 作者单位 | 云南财经大学 |
| Organization | Yunnan University of Finance and Economics |
| 作者Email | zhongchangbiao@163.com |
| 中文关键词 | 外商直接投资 溢出效应 非线性 拐点 |
| Key Words | FDI; Spillover Effects; Non-linearity; Inflection point |
| 内容提要 | 利用中国制造业1999-2008的面板数据，本文试图从外资溢出效应角度实证分析跨国公司在行业方面渗透的最佳水平。本文主要结果发现中国制造业外资存在水平与内资企业绩效之间呈非线性的而不是已有研究所发现的线性函数关系。当某一行业中外资份额接近三分之二左右时，内资企业的绩效开始下降，表明负效应开始显著增加。进一步研究发现这种非线性关系在低技术行业尤其显著；而在高技术行业，外资存在与内资企业绩效之间则呈现常规的线性关系。本文结果提出内向外商直接投资存在阈值效应，外资技术溢出阈值效应对东道国科学地制定利用外资的政策具有重要理论意义和现实意义。 |
| Abstract | Using data for Chinese manufacturing industry for 1999-2008, this paper attempts to search for the most appropriate sectoral level of foreign penetration in light of spillover benefits arising from foreign presence. Our key result supports a nonlinear functional form. Foreign penetration rates in excess of just about two third of industrial capital are associated with declining spillover benefits, indicating the dominance of negative spillovers. The nonlinear relationship is found to be particularly strong in low-technology industries, contrasting a standard linear relationship in high-technology sectors. The finding of the complexity of spillover effects not only challenges the laissez-faire view of ‘the more inward FDI, the better’ and also has important policy implications. |
| 文章编号 | WP79 |
| 登载时间 | 2011-07-13 |
|