制度距离对我国OFDI的影响分析

发布时间：2018-01-02 14:26

本文关键词：制度距离对我国OFDI的影响分析　出处：《西南财经大学》2014年硕士论文　论文类型：学位论文

【摘要】：顺应经济全球化和经济一体化的趋势,中国在“走出去”战略引导下,2002年之后在对外直接投资方面取得了较为突出的发展。我国的对外直接投资额流量从2003年28.5亿美元到2013年的878亿美元,发生了质的飞跃。2012年,在世界总体投资环境恶化情况下,中国OFDI的发展逆势上扬,并首次成为全球三大对外投资国之一。正是由于中国OFDI近十年的良好表现,逐渐使其成为了关注焦点。因此本文结合大量文献的阅读和思考,顺应目前讨论热点,把研究对象定位于中国对外直接投资,并以研究较少的制度作为切入点,即从制度的角度研究各因素对中国OFDI的影响情况。通过在传统的客观影响因素中加入主观的制度因素,从而更为准确的呈现各影响因素在中国OFDI行为和发展中的贡献度。基于该研究,为使中国的资金得到充分利用,并发挥出最大化效益而提供一定的参考意见,以期中国在今后的对外直接投资发展中取得更好的成绩。具体到文章内容,本文主要研究制度质量及距离对中国OFDI的影响情况。着重关注两个方面：对流量和存量的影响情况、对区域选择的影响情况。首先,通过文献研究法,梳理并归纳对外投资理论并落脚到本文研究的具有中国特色的对外投资理论。在此基础上,梳理制度经济学以及制度概念引入到对外投资研究中的过渡,最终总结出中外关于制度以及制度距离对于OFDI影响的理论研究和实证研究效果。再者,通过分析中国2003年-2012年的对外直接投资状况,得出目前中国对外直接投资的实际特征。通过比对中国对外直接投资的理论特征之后,提出相应的待研究和待解释的问题,为下一步实证研究打好基础。最后,基于前文中国对外直接投资的理论和现状分析,本文提出了相应的假设,采用中国对外直接投资的100个国家的10年的OFDI面板数据进行实证分析,除开采用经典的客观影响变量之外,主要加入了代表制度质量的权威性统计指标和权重公式换算得来的制度距离解释变量,从狭义的制度质量和制度距离角度观察其对影响OFDI的存量以及区域选择的情况。本文的实证和建议部分主要采用计量模型研究和SPSS统计研究。第一个层次是采用普通面板回归模型进行数据分析,主要验证传统的影响因素模型中加入新的主观制度因素之后,各个变量的影响效果会与前人的研究有什么异同点；第二个层次,还运用统计分析方法,在最后建议部分给出九方格的筛选分析框架,使建议更加具体可操作。本文共分为五个部分。第一部分：引言,其中包括研究背景与意义等内容。第二部分：文献综述,主要分为两条主线。一条是主流的对外直接投资理论成果总结；另一条主线是制度距离作为OFDI影响因素的研究成果。第三部分：我国对外直接投资的现状、特征及影响因素；第四部分：实证分析,包括理论假设,基于前人研究结论和前文现状问题的分析结果,提出本文中需要验证的三个假设；样本、变量和数据的选取等具体事项说明；模型建立和结论分析。本文通过实证分析得出如下结论：经典的客观影响变量在OFDI的影响中仍然发挥着作用,但有些变量变得不显著；东道国的制度质量越好,中国的投资意愿越强,投资量越大；我国与东道国的制度距离越大,中国的投资可能性越小；具体到发达国家和发展中国家有些因素的影响有一定的差异。第五部分：政策建议,通过模型的结论分析和解释,建议中国的对外直接投资在国家层面上要有一些导向性的政策支持和咨询服务,并且坚持走分层化规划管理模式,充分挖掘我国在发达国家与发展中国家不同投资优势和特征,因地制宜的投资和发展。
[Abstract]:With the economic globalization and the trend of economic integration, China in "going out" strategy under the guidance, after 2002, foreign direct investment in developing more prominent. Foreign direct investment flows in China in 2003 from $2 billion 850 million to $87 billion 800 million in 2013, made a qualitative leap in.2012 years, the overall investment in the world the deterioration of the environment conditions, the development of Chinese OFDI bucked the trend, and become one of the world's three largest foreign investor in China for the first time. It is because of the good performance of OFDI Chinese for nearly ten years, it gradually became the focus of attention. This paper combined with a large number of literature reading and thinking, conform to the current hot discussion, located in the study China foreign direct investment, and less research system as a starting point, the situation of the system from the point of view of various factors on the Chinese OFDI. The objective factors in the traditional In addition the system subjective factors, so as to more accurately reveal the contribution of each factor in China OFDI behavior and development. Based on this research, in order to make full use of China funds, with the greatest benefits and provide some suggestions, in order to Chinese achieve better results in the future foreign direct in the development of investment.
Specific to the contents of the article, this paper mainly studies the system quality and distance effect on Chinese OFDI. Focuses on two aspects: the influence of stock and flow, the impact of regional choice. First, through literature research, combing and summarized the theory of foreign investment and settled in this study has the characteristics of foreign Chinese the theory of investment. On this basis, combing the institutional economics and system research to introduce the concept of transition in foreign investment, finally summarizes the Chinese and foreign about the institution and the distance for the OFDI of theoretical research and empirical research results. Furthermore, through the analysis of China 2003 -2012 years of foreign direct investment, the actual characteristics of China foreign direct investment. After comparison of characteristics China through the theory of foreign direct investment, and put forward to research some problems to be explained, for the next step. Lay a good foundation for empirical research. Finally, theoretical and empirical analysis based on the above Chinese foreign direct investment, this paper proposes the corresponding assumptions, the empirical analysis using 10 years of OFDI panel data of 100 countries Chinese foreign direct investment, in addition to the objective impact of classical variables, mainly involved the authoritative statistical indicators and the weight formula representing institutional quality system distance variables from the narrow institutional quality and institutional distance angle to observe its effect on OFDI stock and regional selection. The empirical part uses statistics and suggestions of econometric model research and SPSS. The first level is the general panel regression model after adding the subjective data analysis, new institutional factors influence the main factors in the model to verify the traditional effect of each variable with the previous studies What are the similarities and differences? At the second level, we also use statistical analysis method. In the last part of the suggestion, we give the nine squares screening and analysis framework, making the proposal more specific and operable.
This paper is divided into five parts: the first part is the introduction, including research background and significance of the content. The second part is the literature review, mainly divided into two lines. One is the foreign direct investment theory summary of the achievements of the mainstream; the other thread is institutional distance as the research results of influential factors of OFDI. The third part status quo of China's foreign direct investment, characteristics and influencing factors; the fourth part is empirical analysis, including theoretical assumptions, the results of previous research conclusions and problems based on the previous status, put forward three hypotheses to verify this paper; sample, variables and data selection and other specific matters; analysis model and conclusion. This paper draws the following conclusions through empirical analysis: the classic objective impact variables in the OFDI influence continues to play a role, but some variables become insignificant; quality system of the host country The amount of the better, Chinese willingness to invest more, the greater the amount of investment system; the distance between China and the host country is bigger, the smaller possibility of investment China; specific to the influence of developed and developing countries, some factors are different. The fifth part: policy recommendations, through model analysis and conclusion, suggestions for foreign direct investment China at the national level to have some guiding policy support and consulting services, and adhere to the hierarchical planning management mode, fully tap our country in the developed countries and the developing countries of different investment advantages and characteristics of investment and development of local conditions.

【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.6

【参考文献】