摘要
为了考察东道国腐败对中国对外直接投资的影响,本文采用2003-2011年中国对东道国直接投资的跨国面板数据进行实证检验。结果表明:在一些腐败水平较低的国家,腐败会对中国对外直接投资产生明显的"摩擦效应",而在一些腐败水平较高的国家,腐败会作为一种次优选择对中国对外直接投资产生一定程度的"润滑效应"。在采用动态面板GMM方法控制腐败的内生性问题后,这一结论依然成立,表明东道国腐败对中国对外直接投资的影响是一定制度环境中腐败的"摩擦效应"和"润滑效应"这两种力量相互平衡的结果。
The paper uses data on China＇s OFDI to 61 host countries during 2003-2011 to empirically analyze the influence of host country corruption on China＇s OFDI. The results show that when the host country corruption is moderate, the corruption would have a negative effect on China＇s OFDI, but when corruption rises to a certain level, it would have a positive effect on China＇s OFDI. After using the system GMM estimators to control the endogenous problem of corruption, we discover that the above conclusion remains true, indicating that the actual effect of host country corruption on China＇s OFDI is a balance struck between hindering and lubricating forces within a certain institutional environment.
出处
《国际贸易问题》
CSSCI
北大核心
2013年第10期138-148,共11页
Journal of International Trade
基金
教育部人文社科研究项目“中国对外直接投资影响因素的实证研究”(11XJC790003)
关键词
东道国
腐败
对外直接投资
动态面板GMM
Host country
Corruption
Outward foreign direct investment
System GMM
