最低工资与中国企业“走出去”
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| Title | Minimum Wage and OFDI of China
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| 作者 | 李磊 于明言 冼国明 |
| Author | Li Lei, Yu Mingyan and Xian Guoming |
| 作者单位 | 南开大学国际经济研究所；天津行政学院经济发展战略研究所 |
| Organization | Institute of International Economics, Center for Transnationals' Studies, Nankai University; Tianjin Administrative College |
| 作者Email | nklilei@nankai.edu.cn；yumy515@126.com；gmxian@nankai.edu.cn |
| 中文关键词 | 最低工资 劳动力成本 对外直接投资 投资动机 |
| Key Words | Minimum Wage; Labor Cost; OFDI; Investment Motivation |
| 内容提要 | 在中国劳动力成本日益上升和中国对外投资“如火如荼”的背景下，论文研究了中国最低工资的上升对企业“走出去”的影响。理论模型发现本国相对外国最低工资的上升，将导致本国与外国资本利润差减小，进而引起资本从本国流出。计量分析的结果表明最低工资越高的城市，位于其中的企业将越早并且越多的对外直接投资。城市最低工资水平每增加1%，会导致企业对外直接投资次数增加1.943%。进一步的分析表明，具有较低工资水平的企业更易受最低工资标准的影响而对外直接投资。并且最低工资的影响对研究开发型OFDI和垂直生产型OFDI的影响更大，对于资源寻求、水平生产和出口平台型OFDI的影响较小。最后，最低工资的影响随着时间的推移也会产生变化。在2004年《最低工资规定》实施之后的几年，最低工资对企业OFDI产生了最大的影响，之后逐步降低。本文对我国应对劳动力成本上升及制定企业“走出去”政策具有较重要参考价值。 |
| Abstract | In the background of Chinese rapid growing labor cost and OFDI, this paper theoretically and empirically examines the relationship between changes in the minimum wage and firms' OFDI behavior in China using detailed firm-level data of medium and large manufacturing enterprises between 1998 and 2013. Theoretical model was build to analyze the mechanism. Empirical results find that a 1% increase in the log value of the minimum wage is associated with a 14.462 percentage-points increase in the times of OFDI. We further observe a larger decline among firms with lower average wage. The minimum wage effect is more pronounced for firms which OFDI motive is R&D, and vertical production. Finally, the impact of the minimum wage on OFDI will change over time. In the several years after the implementation of the minimum wage law, the impact of minimum wage on OFDI is the greatest, and then gradually decrease. |
| 文章编号 | WP1245 |
| 登载时间 | 2017-12-12 |
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