地方政府“土地引资”背景下的FDI挤入挤出效应研究

发布时间：2018-06-19 02:22

本文选题：地方政府 + 土地引资　；参考：《财经研究》2016年01期

【摘要】：文章基于税收优惠空间缩小条件下地方政府为追求经济增长而将"土地引资"作为重要招商手段的现实背景,根据中国2004-2007年259个地级及以上城市数据,从理论和实证两个层面系统研究了地方政府"土地引资"行为对FDI与国内投资之间关系的附加影响。(1)理论分析表明,在最大化本地产出的目标下,地方政府有激励压低工业地价并给予高效率企业更多优惠,这种干预行为有可能会放大FDI对国内投资的挤入或挤出效应。(2)实证结果显示,样本期内"土地引资"有效地刺激了当地总投资规模增长。在全国,"土地引资"强化了FDI的挤入效应。在城市群层面,FDI在发达城市有较大的挤入效应,"土地引资"的影响作用不明显;在发展水平居中的城市,政府"土地引资"效果最显著,强化了FDI的挤入作用。在其他城市,"土地引资"及FDI对国内投资比重的影响不显著。
[Abstract]:Based on the realistic background of the local government taking "land introduction" as an important means of attracting investment under the reduction of tax preference space, according to the data of 259 prefectures and above cities in China for 2004-2007 years, this paper systematically studies the FDI and domestic investment by the local government "land introduction" from two levels of theory and demonstration. The additional influence of the inter relationship. (1) theoretical analysis shows that, under the goal of maximizing the local output, local governments have the incentive to lower the industrial land price and give more benefits to the efficient enterprises. This intervention may enlarge the effect of FDI on the domestic investment. (2) the empirical results show that the "land introduction" in the sample period is effectively stabbed. In the whole country, "land introduction" has strengthened the effect of FDI on the crowking effect. In the urban agglomeration level, the effect of "land introduction" is not obvious, and the effect of "land introduction" is not obvious. In the middle cities with the middle development level, the government "land investment" has the most significant effect, and the effect of FDI is strengthened. In other cities, " The impact of land investment and FDI on domestic investment is not significant.
【作者单位】：广西大学商学院;复旦大学金融研究中心;复旦大学经济学院;
【基金】：教育部人文社会科学研究青年基金项目(14YJC790129) 国家社会科学青年基金项目(15CJL040)
【分类号】：F832.6

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