摘要
俄罗斯各地区营商环境的变化对地区FDI流入的影响是国内投资者关心的问题，论文基于俄地区1999＂-＇2014年的动态面板模型，运用系统GMM估计方法分析了滞后一期FDI、劳动力、消费、生产、财政、制度、创新、基础设施、自然资源等营商潜力类营商环境变量以及政治、经济、财政、社会、治安、生态等营商风险类环境变量对地区FDI流入的影响，研究发现，劳动力潜力和制度潜力对俄地区FDl流入会产生积极影响且较为显著，经济风险、社会风险和治安风险则显著不利于FDl流入；进一步综合营商环境因素和地区虚拟变量的分析得出启示，作为转型大国的俄罗斯，其不断释放出的制度红利仍然为各国投资者所重视；同时，从数据分析上看不出自然资源禀赋给外国投资者带来的好处；相对地，传统的投资动机比如市场规模、劳动力状况、市场体系完善程度等可能仍然是俄罗斯各地区FDI流入的主要推动力。
It has become a concern of the domestic investors that the region- al FDI inflow is influenced by the change of investment environment in different regions in Russia. Based on the Dynamic Panel Model of different regions of Russia from 1999 to 2014, this paper analyzes the influence of potential factors of investment such as one- phase- lagged FDI, labor, consumption, production, fi- nance, institution, innovation, infrastructure and natural resources as well as the investment risk factors such as politics, economics, finance, society, public securi- ty and ecology on regional FDI inflow by system GMM estimation method. The study discovers that labor potential and institution potential have a positive and significant impact on Russia＇s regional FDI inflow, while economic risk, social risk and security risk have a significantlynegative impact on Russia＇s regional FDI inflow. Furthermore, through the analy- sis of investment environment factors and regional virtual factors, this paper makes a conclusion that the institution of a transitional great power Russia, is at- tached great importance by investors from different countries; meanwhile, the da- ta analysis shows that Russia＇s natural resource endowment cannot bring much benefit to foreign investors; relatively, traditional investment motives such as mar- ket scale, situation of the labor force, market system perfection are probably still the main driving forces for Russian regional FDI inflow.
基金
国家社科基金重大项目"构建开放型经济新体制的重点及基本框架研究"
项目批准号:15ZDA056
国家社科基金重点项目"构建开放型经济新体制研究"
项目批准号:014AZD017
教育部人文社会科学重点研究基地重大项目"转型国家与美国的共生与博弈研究"
项目批准号:14JJD810021
山东软科学基金项目"山东省培育对外贸易新型竞争力对策研究"
项目编号:2014RKB01412
山东省社会科学规划项目(12CJJJ17)
2013年辽宁省教育厅人文社会科学研究一般项目
项目编号:W2013002
