欧债危机对在华外国直接投资影响的实证研究

发布时间：2018-05-28 08:43

本文选题：欧债危机 + 外商直接投资　；参考：《华中科技大学》2013年硕士论文

【摘要】：自改革开放以来，我国顺应国际产业转移的趋势，凭借廉价的劳动力、需求潜力巨大的消费者市场以及各项优惠政策，吸引了世界各地的外商前来直接投资，吸收利用了巨额的外商直接投资。尤其是伴随着我国加入世界贸易组织，我国的利用外商直接投资得到了飞跃的发展。2012年首次超越美国，成为全球最大FDI目的国。然而欧债危机以来，全球经济不景气，国内不仅经济增长速度放缓，需求锐减，而且还面临着人民币升值的压力，劳动力成本优势岌岌可危。虽然实际利用外商直接投资金额在逐年增加，但是FDI吸引力能否持续下去以及其吸引力相对增强背后隐藏的绝对数额下降问题不容小觑。本文采用38个国家2002年一季度至2012年一季度的面板数据，利用引力模型，对FDI决定因素进行了回归分析。分别对总样本、样本中发达国家以及发展中国家子样本进行了三次回归，检验市场规模、贸易额、地理距离、知识产保护、贸易成本、投资环境、投资成本、产业集聚、区域一体化以及心理距离对FDI的作用。结果表明：强知识产权保护有利于促进FDI的流入。来自高收入国家的外国直接投资对除了中国的市场规模以外的其他因素更为敏感。距离的估计参数为正与假设相反，但是与浓度接近理论相一致，并且为来自高收入国家的水平外国直接投资代替出口因为中国和母国的距离增加。同样的，，结果也表明交易成本对外国直接投资有显著为正的作用。此外，我们发现投资成本和集聚效应几乎对外国直接投资流入中国没有影响或者存在微乎其微的影响。
[Abstract]:Since the reform and opening up, China has complied with the trend of international industrial transfer, relying on cheap labor, a consumer market with huge potential demand and various preferential policies, which has attracted foreign direct investment from all over the world. A huge amount of foreign direct investment has been absorbed and utilized. Especially with China's accession to the World Trade Organization, China's utilization of foreign direct investment (FDI) has developed by leaps and bounds. In 2012, China overtook the United States for the first time to become the largest FDI destination country in the world. However, since the European debt crisis, the global economy has been depressed, domestic economic growth rate has slowed, demand has plummeted, but also face the pressure of appreciation of the yuan, labor cost advantage is in jeopardy. Although the amount of foreign direct investment actually utilized is increasing year by year, the problem of whether the attraction of FDI can be sustained and the absolute amount of decline hidden behind its relative enhancement cannot be underestimated. In this paper, the panel data of 38 countries from the first quarter of 2002 to the first quarter of 2012 are used to analyze the determinants of FDI using gravity model. For the total sample, the subsample of developed country and developing country were regressed three times to test market scale, trade volume, geographical distance, knowledge production protection, trade cost, investment environment, investment cost, industrial agglomeration. The effect of regional integration and psychological distance on FDI. The results show that strong intellectual property protection is beneficial to promote the inflow of FDI. Foreign direct investment from high-income countries is more sensitive to factors other than the size of China's market. The estimated distance parameter is positive and contrary to the hypothesis, but consistent with the concentration approach theory, and is replaced by exports by the level of FDI from high-income countries because the distance between China and the home country increases. Similarly, the results show that transaction costs have a significantly positive effect on FDI. In addition, we find that investment costs and agglomeration have little or no impact on FDI inflows into China.
【学位授予单位】：华中科技大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.6

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