中国对美国直接投资与企业生产率关系研究——基于浙江省制造业企业层面数据的实证分析

发布时间：2018-06-03 02:32

本文选题：对外直接投资 + 新新贸易理论　；参考：《宏观经济研究》2015年08期

【摘要】：近年来,随着中国经济实力的不断增强以及"走出去"战略的实施,越来越多的中国企业在美国进行直接投资。尽管中国企业在美国的直接投资无论是在数量上还是在规模上都有明显的增长,但中国对美国直接投资的总存量与其他发达国家对美国的总投资量相比还非常小。在此背景下,本文在借鉴前人研究企业异质性、出口与企业生产率关系的方法基础上,构建了三个计量模型——OFDI溢价模型、自我选择效应模型和生产率效应模型,采用《中国工业企业数据库》和《境外投资企业(机构)名录》合并而成的浙江省制造业2000—2007年企业层面的数据,实证分析了中国对美国直接投资与企业生产率的关系。研究发现:对美国进行直接投资的企业的生产率要高于未进行直接投资的企业生产率;对美国进行直接投资的企业在投资之前的生产率高于未进行直接投资的企业;随着企业在美国直接投资年龄的增长,企业的生产率会有明显提升。也就是说,中国企业对美国进行直接投资既存在自我选择效应,也存在生产率效应。
[Abstract]:In recent years, with the strengthening of China's economic strength and the implementation of the "going out" strategy, more and more Chinese enterprises have invested directly in the United States. Although the direct investment of Chinese enterprises in the United States has obviously increased in both quantity and scale, the total stock of Chinese direct investment in the United States is still very small compared with the total amount of investment in the United States in other developed countries. Under this background, based on the previous research on the relationship between enterprise heterogeneity, export and enterprise productivity, this paper constructs three econometric models: OFDI premium model, self-selection effect model and productivity effect model. This paper analyzes the relationship between China's direct investment in the United States and the productivity of enterprises in Zhejiang Province from 2000 to 2007 by using the data of China Industrial Enterprise Database and the list of Enterprises (institutions) with Foreign Investment. The data from 2000 to 2007 are used to analyze the relationship between China's direct investment in the United States and the productivity of enterprises. It is found that the productivity of firms investing directly in the United States is higher than that of enterprises without direct investment, and the productivity of firms investing in the United States is higher than that of enterprises without direct investment. As firms grow in age for direct investment in the United States, productivity increases significantly. In other words, Chinese firms have both self-selection and productivity effects in their direct investment in the United States.
【作者单位】：中南财经政法大学统计与数学学院;中南财经政法大学工商管理学院;
【基金】：中央高校基本科研业务费专项资金(2014144)的资助
【分类号】：F425;F125

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