摘要
本文采用1998-2011年中国OFDI数据进行了实证检验。在理论上分析了制度因素对中国OFDI的影响,研究结果表明:中国OFDI整体具有显著的制度依赖性,且国有制企业OFDI的依赖性大于非国有制企业;东道国制度因素对中国OFDI具有差异性影响,发达国家的制度因素对中国OFDI具有正向影响,发展中国家则具有反向影响;中国OFDI不具有制度相似性特征,即中国企业倾向于到制度差异较大的国家进行投资;作为特殊性制度保护机制的BIT对中国在发展中国家的OFDI具有显著促进作用,并对一般性制度因素具有显著替补作用,在发达国家BIT则不存在上述效应。
Since traditional intemational investment theory does not fully apply to China＇s OFDI, this paper conducts a theoretical empirical analysis of the impact of institutional factors on China＇s OFDI using data from 1998 to 2011. The findings show that in addition to traditional factors such as the host country＇ s market size, resource endowment and distance costs, institutional factors are al- so important determinants of China＇s OFDI. Specifically, first, China＇s overall OFDI is significantly dependent on the institution, with the dependence of state-owned enterprises greater than that of non-state enterprises; second, the influence of host country＇s institutional factors on China＇s OFDI vary： institutional factors in developed countries have a positive impact on China＇s OFDI, while those in developing countries have a negative impact; third, China＇s OFDI is not characterized by ＂institutional similarity＂, indicating that Chinese enterprises invest in countries of huge institutional differences. Further studies show that as a protective mechanism, BIT plays a significant role in promoting China＇s OFDI in developing countries, and has a significant substitution effect for general institutional factors, but in the developed world this effect does not exist.
出处
《国际贸易问题》
CSSCI
北大核心
2014年第9期98-108,共11页
Journal of International Trade
基金
国家自然科学基金项目"中国企业海外并购与产业国际竞争力研究"(71273142)
国家自然科学基金项目"我国区域经济增长的制度影响与空间计量研究"(12BJL065)
中央高校基本科研业务费专项资金资助项目"外商直接投资
产业关联与中国经济增长"(NKZXA10003)
教育部人文社会科学重点研究基地重大项目"对外直接投资与我国经济发展的理论和政策研究"(13JJD790017)
